MapmyIndia Allots 16,612 Shares Under ESOP Scheme

MapmyIndia Allots 16,612 Shares Under ESOP Scheme

SUMMARY

MapmyIndia has allotted 16,612 equity shares to eligible employees under its employee stock option plan (ESOP)

The shares were issued at an exercise price of INR 12.15 per share, the company said in an exchange filing

Earlier today, MapmyIndia also reported its financial numbers for the third quarter of the ongoing financial year

MapmyIndia has allotted 16,612 equity shares to eligible employees under its employee stock option plan (ESOP). 

The shares were issued at an exercise price of INR 12.15 per share, the company said in an exchange filing. 

“The board considered & approved the allotment of 16,612 equity shares of INR 2/- each at an issue price of INR 12.15/- per share to the Eligible Employees (ESOP holders), who have exercised their vested options as per ESOP Policy of 2008 of C.E. Info Systems Limited as recommended by the Nomination & Remuneration Committee of the company,” the filing said. 

Shares of MapmyIndia ended Tuesday’s (January 28) trading session 3.10% lower at INR 1610.70 on the BSE. As per the stock’s last closing price, the newly allotted shares are worth INR 2.6 Cr.

Earlier today, MapmyIndia also reported its financial numbers for the third quarter of the ongoing financial year. The company reported a 4% rise in its Q3 FY25 net profit to INR 32.3 Cr from INR 31.04 Cr in the year-ago quarter.

Revenue from operations zoomed 24% to INR 114.54 Cr from INR 92.02 Cr in the year-ago quarter. On a quarter-on-quarter basis, it increased 10% from INR 103.67 Cr.

MapmyIndia has seen a flurry of activities in recent times. Earlier this month, the company acquired a 9.37% stake in Kanpur-based AI startup SimDaaS Autonomy for about INR 3 Cr.

Last week, MapmyIndia teamed up with Bengaluru-based startup KOGO AI to launch India’s ‘first’ universal voice assistant for the automotive industry. Earlier this month, it also partnered with US-based original equipment manufacturer Qualcomm Technologies to offer automotive connectivity solutions in India and overseas.

MapmyIndia faced significant criticism from investors last year after revealing plans to spin off its B2C business into a separate entity. The company also announced that its founder and CEO, Rohan Verma, would step down to lead this new venture.

Amid the backlash, the publicly-listed geotech company ultimately reversed its decision.