last week, saw some off-loading by promoters and Abakkus is completely out in June qtr. So both DIIs & Promoter free float shares are in market.
Seems for now, limited upside and there’s no traction in the company. CPaaS as a space is here to grow, esp with WhatsApp business & Google’s RCS getting into more thick of things while businesses are looking to find new engaging ways to keep a connect with their customers and also be instantly available, without a human need. Recently, Route also got Metro ticket booking contract and has been expanding the services tie-ups. Airtel already shared the intent to get into CPaaS and that’s off course has very great synergy to them.
But for now, the upside seems limited seeing Route’s valuations, more free float & offloading from promoters to happen (i expect they will complete by Mar’25 or least come to 77-78%). Tanla is there on lower deck of valuations but with Proximus buy-out, the leverage exists more with Route.
Coming months to see how this pans out and if looking to buy into a CPaaS growth story, Route can be considered as it should give good window for slow accumulation, fair valuations wrt growth runway and a strong promoter group with global reach & associations with big firms.