Business Standard

Proximus Opal completes divestment of 6.03% stake in Route Mobile

Image

Route Mobile announced today that its promoter entity, Proximus Opal S.A., has successfully divested a 6.03% stake in the company through an Offer for Sale (OFS) on 12 September and 13 September 2024, in addition to the 1.95% sell down that was completed on 26 July 2024, to comply with the minimum public holding requirement of 25%. The OFS was oversubscribed and received strong participation from long-only marquee investors.

With this development, Proximus Opal, part of the Proximus Group, has reduced its holding in Route Mobile from 83.11% to below 75% and is compliant with the minimum public shareholding criteria, in accordance with the regulatory guidelines set by the Securities and Exchange Board of India (SEBI).

 

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 16 2024 | 12:03 PM IST

Explore News