Route Mobile’s promoter entity, Proximus Opal S.A., has successfully divested a 6.03% stake in the company through an Offer for Sale (OFS) on September 12 and 13, 2024, in addition to the 1.95% sell down that was completed on July 26, 2024, to comply with the minimum public holding requirement of 25%. The OFS was oversubscribed and received strong participation from long-only marquee investors.
With this development, Proximus Opal, part of the Proximus Group, has reduced its holding in Route Mobile from 83.11% to below 75% and is compliant with the minimum public shareholding criteria, in accordance with the regulatory guidelines set by the Securities and Exchange Board of India (SEBI).
Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO).
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