Sale was required in order to meet minimum public shareholding requirements.
In May 2024, Proximus Group acquired a majority stake in Route Mobile, a leading Indian CPaaS platform.
Now, Proximus Group has successfully completed the sale of a 6.03 percent stake in Route Mobile through its daughter company Proximus Opal to comply with the minimum public shareholding requirements set by the Securities and Exchange Board of India (SEBI).
This transaction has generated significant interest from large, long-only investment funds. The offering was oversubscribed, with strong participation from major long-only investors.
This transaction follows an earlier sale of 1.95 percent, which was completed on July 26, 2024. Following both transactions, Proximus Opal has reduced its stake in Route Mobile to less than 75 percent, thus meeting the minimum public shareholding criteria in line with the Securities and Exchange Board of India (SEBI) regulations.
With an average price per share of INR 1,662.20 for both share sales, this operation generates gross proceeds of approximately 90 million euros for Proximus Opal, resulting in a final ownership of 74.90 percent in Route Mobile.
