ROUTE MOBILE LIMITED has informed the Exchange regarding 'ISD updates'.
ROUTE · price
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Awaiting price reaction for this filing.
Route Mobile Limited has released a post-offer advertisement for the open offer made by Proximus Opal (Acquirer) along with Proximus (Person Acting in Concert). The offer was for up to 1,64,05,338 equity shares (26% of expanded voting share capital) at ₹1,626.40 per share plus ₹18.27 interest, totalling ₹1,644.67 per share. Actual acceptances stood at 1,57,68,803 shares (24.99%), for a total consideration of about ₹2,593 crore. Post-offer, the Acquirer's shareholding stands at 82.70% (5,21,83,089 shares) of the expanded voting share capital, leaving public shareholders with 17.30%. The underlying Share Purchase Agreement is yet to be completed within SEBI's prescribed timelines.
This signals a near-complete takeover of Route Mobile by Belgium's Proximus group, leaving public shareholders with only ~17% stake. The stock may see reduced liquidity and re-rating, though shareholders who tendered received the premium offer price plus interest.