Route Mobile Buyback

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

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 NameRoute Mobile Limited
Buyback TypeOpen Market Through Stock Exchange
Buyback Announced Date28 June 2022
Issue Open Date11 June 2022
Issue Close Date10 Jan 2023
Issue Size (Amount)Rs 120 Crores
Listing AtBSE, NSE
Buyback PriceRs. 1700 per share
Face ValueRs. 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.

You may also read this: What is BuyBack of Share?

Route Mobile Buyback FAQs

What is Route Mobile Buyback price?

The Route Mobile Buyback price is set at Rs 1700 Per Share. The Route Mobile Buyback opens on 11 June 2022 and closes on 10 Jan 2023.

How do I get the Tender Form for Route Mobile Buyback?

There is no concept of Tender form in case of an open market offer through the Stock exchange. Any equity shareholder holding the Equity shares of Route Mobile Buyback can participate in the buyback offer through their stockbroker.

Where can I get the Public Announcement for Route Mobile Buyback?

The Public Announcement for Route Mobile Buyback can be download here.

How to participate in for Route Mobile Buyback?

Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.

The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.

Why is Route Mobile Buyback coming up with buyback?

The necessity for Route Mobile Buyback is not yet declared.

Is Route Mobile Buyback good or bad?

The Route Mobile Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one’s need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.

What is opening date for Route Mobile Buyback?

The Route Mobile Buyback opening date is 11 Jul 2022.

What is record date for Route Mobile Buyback?

The Route Mobile Buyback record date is 28 June 2022/ Open Market.

What is the issue size of Route Mobile Buyback?

Route Mobile Buyback issue size is a Rs. 120 Crores.

What is Buyback Price of Route Mobile Buyback?

Route Mobile Buyback issue price is a Rs. 1700 per share.