Hot Pursuit     28-Nov-23
C.E. Info Systems to raise Rs 500 cr via QIP
C.E. Info Systems said that its board has approved raising of funds for an amount not exceeding Rs 500 crore through qualified institutional placement (QIP).
“Raising of funds by way of issuance of such number of equity shares having face value of Rs 2 each 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, subject to the receipt of the necessary approvals including the approval of the members and other regulatory / statutory approvals, as may be required,” the company stated in regulatory filing.

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 jumped 30% to Rs 33.04 crore on 19.4% increase in net sales to Rs 91.08 crore in Q2 FY24 over Q2 FY23.

Shares of C.E. Info Systems rose 0.07% and currently traded at Rs 2,202.10 on the BSE.

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