C.E. Info Systems zooms ~4% on completion of acquisition of 75.98% stake in Gtropy systems

4 Mar 2022 , 03:26 PM

In its regulatory filing today, C.E. Infosystems Ltd. (MapmyIndia) informed investors and exchanges that the company has completed the acquisition of a 75 .98% stake of Gtropy Systems Private Limited. It has acquired 1,66,054 shares of Rs10 each in Gtropy, valuing Rs13.50 crore.

The company has announced this acquisition earlier in February 2022.

Gtropy is a fleet management solution company for commercial vehicles and improves one’s fleet operations by using trip-based analytics. It has unique visibility into the activity of India’s commercial vehicles.

C.E. Infosystems gained 3.67% in today’s trade following this development and was last trading at Rs1,455.90 against its previous closing price of Rs1,403.95. It touched the day’s high and low of Rs1,487.80 and Rs1,390 respectively.