DIGITAL NAVIGATION FIRM CE Info Systems, which operates under MapmyIndia brand name, has shelved its decision to invest ₹35 crore in a proposed B2C venture to be led by CEO Rohan Verma.
As per the company's board, Verma will take charge of the new venture after relinquishing his responsibilities at CE Info Systems. However, he will continue to be on the board of CE Info Systems.
The decision comes after concerns were raised on the investment plan approved by the firm's board on November 29. "To allay the concerns of minority shareholders, the new company shall not take MapmyIndia's CCD investment. MapmyIndia will still get a 10% equity stake in the new company," Verma said on Tuesday.
Esta historia es de la edición December 04, 2024 de Financial Express Chennai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 04, 2024 de Financial Express Chennai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
HMPV: Centre asks states to step up surveillance of respiratory illnesses
Two suspected cases of the virus were reported from Nagpur, taking the total number to seven
Nvidia Unveils New Tech for Gamers
● Also announces first desktop PC
Samsung CEO touts AI fridges & washers
SAMSUNG ELECTRONICS IS ramping up investment in AI for consumer electronics, betting on its ubiquitous presence in gadgets from smartphones to TVs to help it stake out a spot in the AI arena.
Only 1 in 5 Sees Household Income Rising in '25: Study
ONLY 24% OR 1 out of every 5 Indians expects their household income to rise in 2025, a survey released on Tuesday showed.
Orbit, Sanabil Launch Startups' Accelerator
ORBIT STARTUPS (ORBIT) and Sanabil Investments have launched an accelerator programme to cultivate early-stage startups from the Saudi Arabia and the Middle East and North Africa (MENA) region as well as global startups seeking to expand into the region.
Growth engine runs out of steam
THAT REPRESENTS A loss of 6.4% growth over the period, against an average annual growth of 6%.
BPCL board clears ₹1K-cr MNGL IPO
THE BOARD OF state-owned Bharat Petroleum Company has given an in-principle approval for the listing of Maharashtra Natural Gas (MNGL)—its joint venture company with GAIL and Indraprastha Gas, the company said on Tuesday.
Vi planning phased 5G rollout, says CEO
VODAFONE IDEA is preparing for a phased 5G rollout, and will launch new tariff plans in 2025, the telco's CEO Akshay Moondra wrote to Vi customers in an emailed new year greeting.
Merges chaos of mela with efficiency of online market
Why the campaign rocks:
The cost of consent
The proposed DPDP Rules challenge marketers to rethink strategy
