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Route Mobile moves up on getting shareholders’ approval to raise Rs 2,000 crore

Route Mobile moves up on getting shareholders’ approval to raise Rs 2,000 crore

Route Mobile is currently trading at Rs. 2289.75, up by 67.70 points or 3.05% from its previous closing of Rs. 2222.05 on the BSE.

The scrip opened at Rs. 2268.00 and has touched a high and low of Rs. 2335.00 and Rs. 2222.05 respectively. So far 10267 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. 687.90 on 16-Oct-2020.

Last one week high and low of the scrip stood at Rs. 2388.10 and Rs. 2151.60 respectively. The current market cap of the company is Rs. 13305.15 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 received shareholders’ approval to raise Rs 2,000 crore through the sale of securities. A majority of shareholders also approved to increase limits of foreign portfolio investments in the company.

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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