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RThe mobile buyback of Rs 120 crore was organized as approved by the board of directors in the meeting held on June 28, 2022. Route mobile buyback will be done through open market route through stock exchange mechanism.
The Board of Directors of the Company has approved the buyback of its fully paid-up equity shares by the Company with the face value of each equity share not exceeding Rs 1,700 per equity share and the aggregate amount not exceeding Rs 120. crores from shareholders.
Root Mobile buyback will be subject to a maximum of 705,882 equity shares which will be 1.12% of the total number of paid-up equity shares of the Company. The route mobile buyback shall not exceed the maximum buyback size, which represents 9.95% and 7.31% of the total paid-up equity share capital and free reserves of the Company as on March 31, 2022, and is within the prescribed statutory limits. 10% of the total of fully paid-up equity share capital and free reserves.
Root Mobile buyback details are as follows:
- Route Mobile Announcement Date: June 28, 2022, Tuesday
- Root Mobile buyback price: Rs 1,700 per equity share
- Root Mobile Buyback Size: Rs 120 crore
- Marg Mobile Buyback Type: Open Market
- Root Mobile Buyback Equity Shares: 705,882 (1.12% of the total number of paid-up shares)
Please visit our Route Mobile Buyback 2022 page for more information.
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