Board Meeting7 May 2026, 11:01 pm
Route Mobile Revises IPO Proceeds Use; Final Dividend ₹2/Share
AI Summary
Route Mobile Ltd's board approved a variation in the utilization of IPO proceeds, reallocating ₹650 million initially earmarked for purchasing Mumbai office premises to general corporate purposes, pending shareholder approval. The board also recommended a final dividend of ₹2 per share (20%) for FY2025-26, subject to shareholder approval. Additionally, the board noted the lapse of 2,500 stock options, re-appointed Mr. Nicolas Lecomte as Internal Auditor, and appointed Mr. Alyque Sequeira and Mr. Gaurav Jhunjunwala as Senior Management Personnel.
Key Highlights
- Route Mobile reallocates ₹650 million from Mumbai office purchase to general corporate purposes.
- Board recommends a final dividend of ₹2 per share for FY2025-26, pending shareholder approval.
- 2,500 stock options under the Route Mobile ESOP Plan 2017 have lapsed.
- Mr. Nicolas Lecomte re-appointed as Internal Auditor for FY2026-27.
- Mr. Alyque Sequeira and Mr. Gaurav Jhunjunwala appointed as Senior Management Personnel.
Price Impact
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