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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…
