Route Mobile Limited, a prominent global provider of cloud communications platforms for enterprises, over-the-top (OTT) services, and mobile network operators, announced today that its promoter entity, Proximus Opal S.A., has successfully sold a 6.03% stake in the company through an Offer for Sale (OFS) held on September 12 and 13, 2024. This follows a 1.95% reduction completed on July 26, 2024. These transactions ensure compliance with the 25% minimum public holding requirement.
The OFS was notably oversubscribed, attracting substantial interest from long-term marquee investors. As a result, Proximus Opal, a member of the Proximus Group, has decreased its holding in Route Mobile from 83.11% to below 75%, aligning with the Securities and Exchange Board of India (SEBI) regulations.
Mark Reid, Finance Lead at the Proximus Group, expressed his appreciation: “We extend our sincere thanks to all investors for their enthusiastic participation in the OFS. This strong response reaffirms our confidence in Route Mobile’s growth strategy. We remain dedicated to supporting Route Mobile’s continued success.”
Gautam Badalia, Group Chief Strategy Officer at Route Mobile Limited, commented: “We are grateful to the investors who have supported our long-term vision. The success of this OFS underscores our commitment to transforming enterprise communication. The significant demand from long-term investors places a great responsibility on us to deliver outstanding results. We are driven to create even more value for our shareholders and stakeholders.”