M&A
Geospatial-solutions provider MapmyIndia raises stake to 96% in Gtropy Systems
BSE Announcement Indian Startup Times Gtropy
Publicly listed, Delhi-based C.E. Info System Ltd, which runs mapping service Mapmyindia , has increased its stake in fellow Delhi-based Gtropy Systems Pvt Ltd to 96% by subscribing to 43,759 equity shares (INR 5,713 per share) for INR 24.99 crore. Post acquisition, Gtropy became a wholly owned subsidiary of C.E. Info Systems.Gtropy is a GPS-based fleet management solution engaged in the businesses of IoT and logistics SaaS tech.
In Feb 2022, MapMyIndia had acquired 75.98% stake in Gtropy Systems for USD 1.8 M.
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