Route Mobile Buyback Details: On June 28, 2022, Route Mobile announced their repurchase programme. The open date for the Route Mobile buyback is July 11, 2022, and it will end on January 10, 2023. Since Route Mobile is an open market buyback offer, the record date is not set in stone. To be eligible for the buyback, the investor must purchase shares in Route Mobile before the record date.
Route Mobile Buyback Record Date
On June 28, 2022, the Board of Directors authorized the Route Mobile Buyback of Rs 120 crore. The stock exchange’s Open Market route will be used for the Mobile Buyback route. The board of directors of the firm gave its approval for the company to repurchase from the shareholders fully paid-up equity shares with a face value of Rs.10 each at a price not to exceed Rs.1700 per equity share and for a total not to exceed Rs.120 crores.
Route Mobile Buyback Price
The shareholders of the Company, excluding the promoters, promoter group, and persons in control of the Company, have approved the buyback by the Company of their fully paid-up equity shares with face values of Rs.10 each (“Equity Shares”) at a price not to exceed Rs.1,700 per Equity Share (“Maximum Buyback Price”) and for an aggregate amount not to exceed Rs.120,00,00,000. Payment will be made in cash via the “Open Market” route through the stock exchange (the process hereinafter referred to as the “Buyback”).
Route Mobile Buyback Details
|Security Name||Route Mobile Limited|
|Buyback Type||Open Market Through Stock Exchange|
|Buyback Announced Date||28 June 2022|
|Issue Open Date||11 June 2022|
|Issue Close Date||10 Jan 2023|
|Issue Size (Amount)||Rs 120 Crores|
|Listing At||BSE, NSE|
|Buyback Price||Rs. 1700 per share|
|Face Value||Rs. 10 Per Equity Share|
Route Mobile Buyback 2022 Acceptance Ratio
The investor should buy around 117 shares at a current market price of ₹1322 (as of June 28, 2022). The calculation will be ₹2,00,000 / ₹1700 buyback price = 117 shares.
About Route Mobile Buyback
One of the top Cloud Communications Platform service providers, Route Mobile is publicly traded and provides Communication Platform as a Service (CPaaS) solutions. We offer solutions in messaging, phone, email, SMS filtering, analytics, and monetization, and we serve businesses, OTT players, and mobile network operators (MNO).
Infusing Conversational AI across a wide range of businesses, such as social media organisations, banks and financial institutions, e-commerce entities, and travel aggregators, we supply a full communication product stack based on CPaaS principals.
With offices throughout Asia Pacific, the Middle East, Africa, Europe, and the Americas, Route Mobile has its global headquarters in Mumbai, India.
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