Route Mobile jumps 2.7% on big fundraising plan
Route Mobile said the fundraising plan would be done through sale of securities and that close to 95 per cent of shareholders present were in favour of the plan.
By Bhaskar Dutta, ETMarkets.com |
iStock
NEW DELHI: Shares of Route Mobile added 2.7% in early Mumbai trading on Monday after the cloud communications platform said it has received approval from shareholders for a Rs 2,000 crore fundraising plan as well as permission to increase limits of foreign portfolio investment in the company.
At 09:40 hours (IST), shares of Route Mobile traded at Rs 2,282.95 on the National Stock Exchange, registering a gain of 2.69% from the previous close.
On Sunday, the company released a regulatory filing stating that the fundraising plan would be done through sale of securities and that close to 95 per cent of shareholders present were in favour of the plan. About 99 per cent of investors voted in favour of raising the FPI investment limits for the company, the release said.
At 09:40 hours (IST), shares of Route Mobile traded at Rs 2,282.95 on the National Stock Exchange, registering a gain of 2.69% from the previous close.
On Sunday, the company released a regulatory filing stating that the fundraising plan would be done through sale of securities and that close to 95 per cent of shareholders present were in favour of the plan. About 99 per cent of investors voted in favour of raising the FPI investment limits for the company, the release said.
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