RouteSMS plans to launch IPO by October 2016

Mumbai-based messaging and voice interface company RouteSMS is planning to launch an IPO by October 2016. The company is likely to dilute 25-30 per cent stake through the IPO, which is being handled by YES Bank and Kotak Mahindra Bank. However, it is yet to file its draft prospectus with the Securities and Exchange Board of India. The company expects to raise Rs 5 billion through the IPO launch.