Thursday, May 19, 2022
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Route Mobile Shareholders Approve Raising Rs 2,000 Crore Via Securities

The scrutinizer report filed late night on Saturday said that close to 95 per cent of Route Mobile shareholders who participated in the process voted in favour of 'raising funds.'

Route Mobile Shareholders Approve Raising Rs 2,000 Crore Via Securities

Enterprise communication service provider Route Mobile has received shareholders' approval to raise Rs 2,000 crore through the sale of securities, according to the company's regulatory filing.

A majority of shareholders also approved to increase limits of foreign portfolio investments in the company.

The scrutinizer report filed late night on Saturday said that close to 95 per cent of Route Mobile shareholders who participated in the process voted in favour of "raising funds through the issuance of equity or such other securities up to Rs 2,000 crore".

Around 24.45 per cent of public institution shareholders who participated in the voters voted against the proposal.

Over 99 per cent of shareholders, who participated in the process, voted in favour of increasing "investment limits for foreign portfolio investors", according to the filing.

(With inputs from PTI)

 

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