The company will raise funds by way of issuing equity shares through permissible modes including but not limited to a private placement, a qualified institutions placement, preferential issue or any other method or combination of methods as may be permitted under applicable laws.

The proposal is subject to such regulatory / statutory approvals as may be required and the approval of shareholders of the company.

C.E. Info Systems provides digital map data, GPS navigation and location-based services, software and customizing its products to customers (combined) through royalty, annuity, subscription.

The company's consolidated net profit increased 30.4% to Rs 33.09 crore on 19.4% rise in net sales to Rs 91.08 crore in Q2 FY24 over Q2 FY23.

The scrip declined 0.21% to currently trade at Rs 2,177.95 on the BSE.