Route Mobile owner Proximus Opal eyes Nasdaq listing

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Also read | Route Mobile to become $1 billion business: Proximus Group CEO Belgium-based Proximus Group, which has acquired a majority stake in Route Mobile, intends to double the group's revenues to $3 billion in 3-4 years, on the back of synergies from the new acquisition, Mint reported in May 2024. Within that, Route Mobile alone is expected to generate $1 billion in revenues, the report said.

Route, which listed on Indian exchanges in 2020, is likely to close FY25 at ₹5,000 crore in revenues. “The ambition we have is to scale Route Mobile’s R&D (research and development) capabilities not only to serve the C-PaaS platform, but also to help us accelerate the development of Telesign and more traditional Proximus telco activities that we may have in Europe.

Significant investments will be needed, in operations, IT (information technology) and R&D, to achieve that scale," Proximus CEO Guillaume Boutin had told Mint in May. Proximus, a telecom service provider, will also double down on investments in India and raise its headcount in the country by a few hundreds, which will also serve as its research and development hub for developing generative artificial intelligence (GenAI)-based products.

According to Gupta, the company is scouting for inorganic opportunities in GenAI and blockchain, among other areas. “We have set aside capital for such opportunities." Read more | Route Mobile in talks for OTP-less transactions The €6 billion Proximus Group provides 5G, data and fibre services in Belgium and several other European markets under brands including Proximus, Scarlet and Mobile Vikings.