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MapmyIndia Promoter Rakesh Verma To Offload 5 Lakh Shares Of Co
Inc42
·
1y ago
Medial
Entrepreneur Rakesh Verma currently holds a 42.84% stake, or approximately 2.32 crore shares, in MapmyIndia. Meanwhile, the company's promoters collectively possess a majority stake of 52.91%. Recently, the stock has experienced significant growth following Goldman Sachs' positive coverage and subsequent 'buy' rating.
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MapmyIndia Shares Plunge 6% Amid Block Deal Buzz
Inc42
·
1y ago
Medial
Around 6.1 Lakh shares of CE Info Systems were traded on Wednesday, equivalent to 1.1% equity worth INR 142.6 Cr. MapMyIndia's CMD and cofounder, Rakesh Kumar Verma, sold the shares for philanthropy, and the promoters have no plans to sell any more shares. Recently, MapmyIndia's shares reached an all-time high of INR 2,745.05 after Goldman Sachs predicted a 40% increase in the share price.
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Namita Thapar may gain ₹127 crore from Emcure Pharma's IPO
Hindustan Times
·
1y ago
Medial
Shark Tank India judge Namita Thapar is reportedly poised to gain around ₹127 crore through the IPO of Emcure Pharmaceuticals. Namita, who is a part of Emcure's promoter group, will offload about 12.68 lakh shares under the offer-for-sale component of the IPO. The public issue will open for subscription on July 3 and the price band is ₹960-1,008 per share.
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MapMyIndia posts Rs 32 Cr profit in Q3 FY25
Entrackr
·
6m ago
Medial
MapMyIndia posts Rs 32 Cr profit in Q3 FY25 CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the third quarter of FY25. The company reported a year-on-year revenue growth of over 24% compared to Q3 FY24. MapMyIndia’s revenue from operations increased to Rs 114.5 crore in Q3 FY25 from Rs 92 crore in Q3 FY24, its unaudited consolidated quarterly report sourced from NSE shows. Income from digital map data, GPS navigation, location-based services, and IoT were the primary sources of revenue for MapMyIndia, which accounted for 90% of the total collection. This revenue source increased by 32.5% to Rs 102.4 crore in Q3 FY25. However, income from the sale of its devices generated Rs 12 crore of revenue. The cost of IoT devices, employee benefits, and technical services (outsourced) were the major cost elements, which pushed the total cost of the firm to Rs 79.4 crore in Q3 FY25 against Rs 60.5 crore in Q3 FY24. With the increase in scale, MapMyIndia recorded a 4.2% increase in its profit to Rs 32.3 crore during Q3 FY25 as compared to Rs 31 crore in the third quarter of the previous fiscal year (Q3 FY24). MapMyIndia is currently trading at Rs 1609 per share with a market capitalization of Rs 8,753 crore ($1 billion). Last month, MapMyIndia announced that its CEO and whole-time director, Rohan Verma, will step down from his executive role effective March 31, 2025. Chairman and Managing Director Rakesh Kumar Verma will continue to provide leadership at MapMyIndia.
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Ola Maps a gimmick, people should be careful of fly-by-night products: MapmyIndia CEO
Economic Times
·
12m ago
Medial
MapmyIndia, a digital navigation company, has disputed claims by ANI Technologies, the parent company of Ola, regarding the development of a navigational map of India. MapmyIndia's CEO, Rohan Verma, called Ola's announcement a gimmick and questioned the credibility and quality of Ola's map products, citing complaints from users. Ola responded by refuting MapmyIndia's statements and stating that they will defend their business interests. MapmyIndia had sent a legal notice to Ola for breaching their license agreement. Verma also discussed MapmyIndia's financial performance and plans to expand into international markets.
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Peak XV, Bisque, link to offload ₹583 cr stake in Awfis
Inshorts
·
8m ago
Medial
VC major Peak XV Partners, Mauritius-based investment firm Bisque Limited, and Delhi-based Link Investment Trust reportedly plan to offload Awfis' shares worth ₹583 crore. Citing sources, CNBC-TV18 reported that the three investors will together offload a 12.2% stake, or 85.8 lakh shares, in the flexible workspace solutions company via a block deal.
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Honasa consumer sees INR 238 Cr block deal, stocks tank after early gains
Inc42
·
1y ago
Medial
Honasa Consumer Ltd, the parent company of direct-to-consumer brands Mamaearth and The Derma Co, witnessed a block deal resulting in the exchange of around 2% stake or 62.90 lakh shares. The deal, worth INR 238 crore, occurred after market opening, causing the company's shares to trade at INR 379 apiece on the BSE, down 1% from the previous day's closing price. This follows reports of venture capital firm Fireside Ventures planning to offload a 1.9% stake in Honasa Consumer.
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IndiGo co-founder Rakesh Gangwal further reduces stake in InterGlobe Aviation
Livemint
·
1y ago
Medial
Rakesh Gangwal, co-founder of IndiGo, has sold a larger-than-anticipated 5.8% stake in InterGlobe Aviation, the parent company of the airline. The sale, conducted through a block deal on the Bombay Stock Exchange, follows previous divestments by Gangwal and indicates a gradual reduction in his shareholding. Gangwal sold 22.5 million shares worth ₹6,785.7 crore (approximately $928 million) at an average price of ₹3,015.88 per share. Following the transaction, Gangwal's stake in the company is now 6%, reducing the promoter group's holding in InterGlobe Aviation to 57.3%.
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MapmyIndia’s Rohan Verma to step down as CEO, launch new B2C firm
YourStory
·
8m ago
Medial
Rohan Verma, CEO of MapmyIndia, will step down and join a new B2C company in April 2025. MapmyIndia will invest Rs 35 crore and acquire a 10% stake in the new venture. Additionally, MapmyIndia will invest Rs 3 crore to acquire a 9.37% stake in SimDaaS Autonomy, a company specializing in simulation-driven development for autonomous systems. They will also invest Rs 2 crore to acquire a 19.84% stake in Kaiinos Geo Spatial Technologies, a company developing intelligent systems for GIS companies. Both acquisitions are expected to be completed by March 2025.
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MapmyIndia will not invest Rs 35 crore in new B2C venture: outgoing CEO Rohan Verma
Business Insider
·
8m ago
Medial
MapmyIndia's parent company, CE Info Systems, will not invest the initially announced Rs 35 crore in its new business-to-consumer venture. Outgoing CEO Rohan Verma stated that he decided to use his own funds instead after considering the concerns of minority investors. However, MapmyIndia will still receive a 10% stake in the venture for a nominal amount of Rs 10 lakh. The decision to separate the B2C operations from the company's primarily B2B business has raised concerns among investors, leading to a decrease in the company's stock price.
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Infosys Co-founder S.D Shibulal’s family sells shares
Thehindubusinessline
·
1y ago
Medial
S.D Shibulal's family members, who are part of the promoter group of Infosys, have sold shares of the company. Bhairavi Madhusudhan Shibulal, Shibulal's daughter-in-law, sold 0.15% of the total shareholding. Other family members also hold shares in the company. The promoter group, consisting of 26 members, including founders and their family members, currently holds 14.71% of the total shares. Shibulal co-founded Infosys in 1981 and held various positions in the company, including CEO from 2011 to 2014.
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