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C E Info Systems stock zooms ~6% on completion of acquisition in 'KOGO'

Recently, the company informed about acquisition of 26.37% stake on fully diluted basis of Kogo Tech Labs for Rs10 crore.

September 20, 2022 1:11 IST | India Infoline News Service
C E Infosystems Limited has informed to the exchanges regarding completion of acquisition of stake in Kogo Tech Labs Private Limited.

As per the regulatory filing, On September 14, 2022 the company informed about acquisition of 26.37% stake on fully diluted basis of Kogo Tech Labs for Rs10 crore, where in addition to this, it is further informed that the said acquisition is completed and the total number of securities acquired is 40,000.

"This would help Automotive OEMs deliver a premium and engaging user first approach to travel and experiences and enhanced technology quotient to their vehicle owners", the company said.

Kogo Tech Labs Private Limited was incorporated on September 27, 2018 and is a gamified social travel commerce platform where users earn KOGOCOIN as they step out, and can spend these on Hotels, Experiences, Services, Accessories and stores on the KOGO Marketplace.

At around 1:08 PM, C E Infosystems was trading at Rs1395.70 per share higher by 5.82% on the BSE. Previously, the scrip ended at Rs1318.90 per share on the BSE platform.

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