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After witnessing an 8 per cent decline on July 17 following the announcement of Proximus Group’s acquisition of a majority 57.56 per cent stake, Rout Mobile’s share price went up by 0.21 per cent to ₹1,489.50 at 12:35 p.m. on BSE.
The Proximus Group’s acquisition agreement will lead to a compulsory takeover offer for 26 per cent of Route Mobile’s outstanding shares.
“Route Mobile will benefit from the resale of expanded verification and fraud protection services globally, resale of insights on identity services in markets not served by Telesign, and a possible offshore shift of product-/R&D-related spends. However, Route’s minority shareholders will not reap the full benefit of the combined global scale or potential synergies, in our view. We maintain HOLD, with TP of ₹1,670 per share, at 23x Jun-25E EPS,” said Emkay Global Financial Services.
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