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C.E. Info Systems Completes Acquisition of Stake in Kaiinos Geo Spatial Technologies
Team Finance Saathi
27/Dec/2024
What's covered under the Article:
- C.E. Info Systems Limited completes its acquisition of stake in Kaiinos Geo Spatial Technologies Private Limited.
- The acquisition includes equity and preference shares, totaling INR 2,00,00,000 in value.
- The transaction has been disclosed in compliance with SEBI (Listing Obligations and Disclosure Requirements).
C.E. Info Systems Limited, known for its brand MapmyIndia, has successfully completed the acquisition of a stake in Kaiinos Geo Spatial Technologies Private Limited. This acquisition was previously communicated in the company’s letter dated November 29, 2024, and the company has now finalized the process, as outlined in its most recent disclosure.
Kaiinos Geo Spatial Technologies Private Limited is a company operating in the geospatial technologies sector, a key area of focus for MapmyIndia as it continues to expand its capabilities in mapping, location-based services, and geospatial solutions. The acquisition will enable MapmyIndia to enhance its portfolio in the growing geospatial industry, which plays a crucial role in various applications such as urban planning, logistics, transportation, and smart city initiatives.
The details of the acquisition are as follows:
- Entity Name: Kaiinos Geo Spatial Technologies Private Limited
- Type of Security:
- Equity Shares: 1 Share, with a face value of INR 100 and a premium of INR 67,240.07, for a total amount of INR 67,340
- Preference Shares: 296 Shares, with a face value of INR 100 and a premium of INR 67,240.07, for a total amount of INR 1,99,32,660
The acquisition further strengthens MapmyIndia’s position as a leader in the geospatial technology sector and supports its strategic efforts to expand its geospatial capabilities across different business sectors.
As per the disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this acquisition is now completed and the company has complied with all the necessary formalities.
Saurabh Surendra Somani, the Company Secretary & Compliance Officer at C.E. Info Systems (MapmyIndia), expressed his satisfaction over the completion of the acquisition, stating, “This acquisition marks an important step in our journey of expanding MapmyIndia's expertise and offerings in the geospatial space, reinforcing our commitment to deliver innovative and value-added solutions to our customers.”
The company has requested the Stock Exchanges (BSE and NSE) to update their records with the details of the completed acquisition, ensuring full compliance with the applicable SEBI regulations.
About C.E. Info Systems (MapmyIndia)
C.E. Info Systems Limited, also known as MapmyIndia, is a leading player in the geospatial technologies and mapping services industry in India. The company is widely recognized for its MapmyIndia digital mapping platform, which offers a comprehensive range of products and services, including maps, location-based services, and tracking solutions. With its advanced geospatial technologies, MapmyIndia provides navigation, asset tracking, fleet management, and geospatial analytics to various sectors, including automotive, transportation, urban planning, logistics, and government projects.
MapmyIndia has made significant strides in integrating mapping technologies with artificial intelligence (AI) and machine learning (ML), which has enhanced its solutions for smart cities, logistics, and infrastructure development.
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