MapmyIndia board approves Rs 500 cr fundraise plan
MapmyIndia board has approved the companys plan to raise Rs 500 crore, Homegrown navigation services firm said in a regulatory filing on Monday. The companys board also approved constitution of a committee for all matters relating to the fundraising through QIP.
![MapmyIndia board approves Rs 500 cr fundraise plan](https://devdiscourse.blob.core.windows.net/imagegallery/29_02_2020_19_19_41_2821142.jpg)
- Country:
- India
MapmyIndia board has approved the company's plan to raise Rs 500 crore, Homegrown navigation services firm said in a regulatory filing on Monday. CE Info System, which operates under the brand name of MapmyIndia, will need to seek shareholders' nod and other statutory approval before fundraise through equity dilution.
The company said the board has approved ''raising of funds by way of issuance of such number of equity shares having a face value of Rs 2 each of the company (equity shares), for an aggregate amount not exceeding Rs 500 crore or an equivalent amount thereof by way of Qualified Institutional Placement (QIP) in accordance with the applicable laws''. The company's board also approved constitution of a committee for all matters relating to the fundraising through QIP.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Rs 500
- Qualified Institutional Placement
- Rs 2
- CE Info System
- MapmyIndia
- Homegrown
ALSO READ
Power & Instrumentation Secures Rs 28.41 Cr Contracts for Jharkhand Electrification
Karnataka Clears 20 New Projects Worth Rs 2,280.52 Crore
Foreign Investors Withdraw Rs 21,201 Crore from Indian Equity Markets in August
Stree 2: Box Office Juggernaut Breaks Records with Rs 283 Crore Opening
Prudent Corporate Promoters Sell Stake for Rs 251 Crore, Societe Generale Acquires Shares