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NEW DELHI: Enterprise messaging agency Route Cellular’s public shareholders have tendered shares value about Rs 2,500 crore at present worth for the corporate’s ongoing open supply, in keeping with a regulatory submitting. The open supply has been triggered with Belgium-based Proximus Group, by its subsidiary, initially buying a 57.56 per cent stake in enterprise messaging agency Route Cellular for Rs 5,922.4 crore in an all-cash deal.
The acquisition has triggered an open market supply for the sale of 26 per cent of Route Cellular in compliance with regulatory tips.
Relying on the result of the MTO (necessary takeover supply), the stake held by Proximus Opal may additional improve to round 75 per cent of Route Cellular’s shares.
“1,57,68,803 fairness shares have been tendered within the Escrow Demat Account (with The Hongkong and Shanghai Banking Company Restricted (HSBC),” Route Cellular mentioned.
The tendered interval has closed now.
Shares of Route Cellular closed at Rs 1,600.65 apiece, down 0.54 per cent, at BSE on Friday.
The acquisition has triggered an open market supply for the sale of 26 per cent of Route Cellular in compliance with regulatory tips.
Relying on the result of the MTO (necessary takeover supply), the stake held by Proximus Opal may additional improve to round 75 per cent of Route Cellular’s shares.
“1,57,68,803 fairness shares have been tendered within the Escrow Demat Account (with The Hongkong and Shanghai Banking Company Restricted (HSBC),” Route Cellular mentioned.
The tendered interval has closed now.
Shares of Route Cellular closed at Rs 1,600.65 apiece, down 0.54 per cent, at BSE on Friday.
