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Route Mobile rises as its arm inks pact to acquire 100% stake in M.R Messaging FZC

04 Feb 2022 Evaluate

Route Mobile is currently trading at Rs. 1813.40, up by 8.80 points or 0.49% from its previous closing of Rs. 1804.60 on the BSE.

The scrip opened at Rs. 1820.00 and has touched a high and low of Rs. 1838.00 and Rs. 1804.25 respectively. So far 5567 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2388.10 on 12-Oct-2021 and a 52 week low of Rs. 1122.30 on 04-Feb-2021.

Last one week high and low of the scrip stood at Rs. 1886.60 and Rs. 1565.65 respectively. The current market cap of the company is Rs. 11454.81 crore.

The promoters holding in the company stood at 59.98%, while Institutions and Non-Institutions held 26.45% and 13.56% respectively.

Route Mobile’s wholly-owned subsidiary -- Routesms Solutions FZE (RSL FZE) has entered into a Share Purchase Agreement (SPA) with the existing shareholders of M.R Messaging FZC (Target Company) to acquire 100% of the equity shares of the target company. Post-acquisition, the target company shall become a wholly-owned subsidiary of the RSL FZE.

The target company is involved in the business of CPaaS (Communication Platform as a Service) solutions including A2P messaging, number lookup and 2-way messaging, offered to enterprises as well as aggregators, using its technology platform. The acquisition will help deepen company’s business mainly in Europe and South Africa over the near term. The Acquisition will be effective subject to the fulfillment of various terms and conditions as specified in the SPA.

Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO).

Route Mobile Share Price

513.50 6.60 (1.30%)
17-Apr-2026 16:59 View Price Chart
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