Monday , 29 November 2021
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Route Mobile jumps on raising Rs 867.5 crore through QIP

Route Mobile jumps on raising Rs 867.5 crore through QIP

Route Mobile is currently trading at Rs. 1968.00, up by 27.40 points or 1.41% from its previous closing of Rs. 1940.60 on the BSE.

The scrip opened at Rs. 1942.00 and has touched a high and low of Rs. 1990.90 and Rs. 1924.70 respectively. So far 6112 shares were traded on the counter.

The BSE group ‘B’ 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. 919.00 on 17-Nov-2020.

Last one week high and low of the scrip stood at Rs. 2008.00 and Rs. 1924.70 respectively. The current market cap of the company is Rs. 11468.74 crore.

The promoters holding in the company stood at 65.12%, while Institutions and Non-Institutions held 20.94% and 13.94% respectively.

Route Mobile has raised Rs 867.5 crore through qualified institutional placement (QIP). The company has allotted over 46.84 lakh equity shares via qualified institutional placement at the issue price of Rs 1,852 per equity share (including a premium of Rs 1,842 per equity share).

Pursuant to the allotment under the QIP, the paid-up equity share capital of the company stands increased from Rs 57,91,26,920 consisting of 5,79,12,692 equity shares to Rs 62,59,68,080 consisting of 6,25,96,808 equity shares.

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