Route Mobile gains as its arm acquires 100% stake in Mobilelink Telecomunicaciones
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Route Mobile is currently trading at Rs. 1267.35, up by 2.00 points or 0.16% from its previous closing of Rs. 1265.35 on the BSE.
The scrip opened at Rs. 1266.95 and has touched a high and low of Rs. 1273.45 and Rs. 1265.75 respectively. So far 587 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1657.80 on 05-May-2022 and a 52 week low of Rs. 1052.60 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1296.95 and Rs. 1252.25 respectively. The current market cap of the company is Rs. 7901.25 crore.
The promoters holding in the company stood at 58.32%, while Institutions and Non-Institutions held 28.45% and 13.24% respectively.
Route Mobile’s wholly-owned stepdown subsidiary -- Masiv Chile SpA (Masiv Chile) has acquired 100% shares of Mobilelink Telecomunicaciones SpA (Mobilelink) on May 04, 2023. Mobilelink has a license to operate VOIP communications and SMS termination in Chile. Mobilelink Telecomunicaciones SpA is a cloud communication platform as a service provider in Chile. The acquisition will help the company to enter into voice business in Chile.
Route Mobile is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players, and mobile network operators (MNO).
