Route Mobile shareholders approve raising Rs 2,000 cr via securities, company to announce Q2FY22 results on Monday

Cloud solution services company Route Mobile Limited has received shareholders’ approval to raise Rs 2,000 crore through sale of securities, according to the company's filing to stock exchanges. Over 95 per cent of its shareholders gave their consent on it, it said in the regulatory filing.

Around 4.9 per cent shareholders voted against the special resolution, the exchange filing said.

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The voting was done during the Extra-Ordinary General Meeting (EGM) of Route Mobile that was held on 16 October.

The company also received approvals from the shareholders to increase investment limits for foreign portfolio investors (FPIs). Over 99 per cent of shareholders, who participated in the process, voted in favour of increasing "investment limits for foreign portfolio investors", according to the filing. 

The company will also be announcing its July-September quarterly results on Monday.

Around 24.45 per cent of public institution shareholders who participated in the voting voted against the proposal, a PTI report said.

Shares of Route Mobile ended at Rs 2223 on the NSE, down by 1.6 per cent from the last closing price on Wednesday.

The equity markets were closed on Friday on account of Dussehra.