Shares of CE Info Systems fell over 4.5%, the steepest intraday decline in a week.
- The company approved acquisition of 75.98% of Gtropy Systems Pvt Ltd for Rs 13.5 crore. The indicative time period for completion of the acquisition is 45 days.
- Gtropy Systems, which belongs to IoE and logistics Software-as-a-Service Tech industry, had a turnover of 8.49 crore in FY21 and Rs 2.58 crore in FY2020.
- Gtropy Systems is likely to aid MapmyIndia in expanding IoT and SaaS solutions into CV fleet and OE market by providing route optimization, vehicle tracking, telematics and advanced navigation solutions.
- The company also declared interim dividend of Rs 2 per equity share bearing face value of Rs 2 each, for FY2022. The record date to ascertain the eligible members for the payment of interim dividend will be February 14, 2022.
Source: Bloomberg, Exchange Filing.