Route Mobile Buyback – Board Approves Rs 120 crore share buyback

Route Mobile Buyback of Rs 120 crore approved by the board of directors at the meeting was held on June 28, 2022. Route Mobile Buyback will be done via the Open Market route through the stock exchange mechanism.

The board of directors of the company approved the buyback by the Company of its fully paid-up equity shares having a face value of Rs 10 each equity share at a price not exceeding Rs 1,700 per Equity Share and for an aggregate amount not exceeding Rs 120 crores from the shareholders.

Route Mobile buyback will be a maximum number of 705,882 equity shares which will be 1.12% of the total number of paid-Up Equity Shares of the Company. Route Mobile Buyback shall not exceed the Maximum Buyback Size, which represents 9.95% and 7.31% of the aggregate of the Company’s total paid-up equity share capital and free reserves as of March 31, 2022, respectively, and is within the prescribed statutory limit of 10% of the aggregate of the fully paid-up equity share capital and free reserves.

Route Mobile Buyback Details are as under:

• Route Mobile Announcement Date: June 28, 2022, Tuesday
• Route Mobile Buyback Price: Rs 1,700 per Equity Share
• Route Mobile Buyback Size: Rs 120 crores
• Route Mobile Buyback Type: Open Market
• Route Mobile Buyback Equity Shares: 705,882 (1.12% of the total number of paid-up shares)

For more details please check our Route Mobile Buyback 2022 page.