Route Mobile Limited (NSE: ROUTE, BSE: 543228), a leading global cloud communications platform service provider to enterprises, over-the-top (OTT) players, and mobile network operators, announced today that its promoter entity, Proximus Opal S.A., has successfully divested a 6.03% stake in the company through an Offer for Sale (OFS) on Sep 12 and 13, 2024, in addition to the 1.95% sell down that was completed on 26 July 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).
Mark Reid, Finance Lead of the Proximus Group, expressed gratitude, stating, “We would like to extend our heartfelt thanks to all the investors for their enthusiastic participation in the OFS. This overwhelming response reinforces our confidence that we are on the right track with Route Mobile’s growth strategy. We remain committed to supporting Route Mobile as it continues its upward trajectory.”
Gautam Badalia, Group Chief Strategy Officer, Route Mobile Limited, added, “First of all, I would like to express my gratitude to all the investors who have believed in our long-term vision. The success of this OFS is a testament to our vision of revolutionizing enterprise communication. The fact that we received strong demand from long-only marquee funds places a tremendous responsibility on us to continue delivering exceptional results. We are motivated to unlock even greater value for all our shareholders and stakeholders.”
Route Mobile continues to strengthen its position as a leader in the cloud communications industry, providing innovative solutions to clients across various sectors globally.
About Route Mobile Limited (www.routemobile.com) BSE: 543228; NSE: ROUTE) Established in 2004, Route Mobile Limited (RML) is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). RML’s portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics and monetization. RML has a diverse enterprise client base across a broad range of industries including social media companies, banks and financial institutions, e-commerce entities and travel aggregators. RML is headquartered in Mumbai, India with a global presence in Asia Pacific, Middle East, Africa, Europe and North America. Proximus Group acquired a majority stake in Route Mobile in May 2024.
For more information, contact:
Mr. Sumit Zawar
Email : press@routemobile.com
Tel: +91-22-40337676
About Proximus
Proximus Group (Euronext Brussels: PROX), headquartered in Brussels, is a provider of future-proof connectivity, IT and digital services, operating in the Benelux and global markets. The Group is actively engaged in building a connected world and in ensuring the trustworthiness, security and sovereignty of digital services, to the benefit of society.
Proximus has the ambition to build the #1 gigabit network for Belgium and plays a central role in creating inspiring digital ecosystems, while fostering an engaging culture and empowering ways of working. Building upon these strengths, Proximus aims to contribute to an inclusive and sustainable digital society, delight customers with an unrivalled experience and achieve profitable growth both locally and internationally to deliver long-term value for stakeholders.
In Belgium, Proximus’ core products and services are offered under the Proximus, Mobile Vikings, Scarlet and Proximus NXT brands. The Group is also active in Luxembourg (Tango and Telindus Luxembourg) and in the Netherlands (Telindus Netherlands). The Group’s international carrier activities are managed by BICS, a leading international communications enabler, one of the key global voice carriers and the leading provider of mobile data services worldwide. With Telesign and Route Mobile, the Group also encompasses fast-growing leaders in digital communications and digital identity, serving the world’s largest internet brands, digital champions and cloud native businesses.
With 11,654 employees, imbued with Proximus’ Think Possible mindset and all engaged to offer a superior customer experience, the Group realized an underlying Group revenue of EUR 6,042 million end-2023.
For more information, please visit www.proximus.com & www.proximus.be.