Route Mobile Board of Directors Approves Rs2000cr Fundraising Plan; Stocks gain almost 2%

Route Mobile Ltd informed that the board of directors on Wednesday September 22, 2021 approved the fundraising proposal worth Rs2000cr.

The Board of Directors has approved the raising of funds through the issuance of equity shares or other securities convertible or exchangeable into equity shares or non-convertible debt securities (with or without warrants) or any combination of these through a private placement, a preferential issue, the issue of American Depository Receipts. , global certificates of deposit or bonds convertible into currencies, placement of qualified institutions, additional public offering or by any other authorized mode or any combination thereof, in one or more tranches for a total amount not exceeding Rs2000cr (rupees two thousand crore only).

In application of the above, the Board has decided to convene an Extraordinary General Assembly (“EGM”) of Members of the Society on Saturday October 16, 2021 to seek Members’ approval for the proposed fundraising activities.

At around 1:28 p.m. Route Mobile was trading at Rs 1,985.95 per coin, up Rs 33.95 or 1.78%.

Previously, the certificate ended at Rs 1,951.20 per coin on the ESB.

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