MapmyIndia raises stake to 96% in Gtropy Systems

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C.E. Info Systems Limited, known as MapmyIndia, has completed the acquisition of additional shares in Gtropy Systems Private Limited to strengthen its control in the telematics and IoT solutions firm.

According to the company’s filing with the stock exchanges, MapmyIndia acquired 43,759 equity shares at Rs 5,713 per share, amounting to an investment of Rs 24.99 crore. With this transaction, MapmyIndia’s shareholding in Gtropy has risen from 76% to 96% on a fully diluted basis, making it a wholly owned subsidiary.

This acquisition is part of…



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MapmyIndia raises stake to 96% in Gtropy Systems


C.E. Info Systems Limited, known as MapmyIndia, has completed the acquisition of additional shares in Gtropy Systems Private Limited to strengthen its control in the telematics and IoT solutions firm.

According to the company’s filing with the stock exchanges, MapmyIndia acquired 43,759 equity shares at Rs 5,713 per share, amounting to an investment of Rs 24.99 crore. With this transaction, MapmyIndia’s shareholding in Gtropy has risen from 76% to 96% on a fully diluted basis, making it a wholly owned subsidiary.

This acquisition is part of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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