MapmyIndia Raises Stake in Gtropy to 96% Earlier this month, MapmyIndia invested INR 25 crore in Zepto, acquiring 0.049% stake to strengthen presence in quick commerce.
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C.E. Info Systems Limited, known as MapmyIndia, has completed the acquisition of additional shares in Gtropy Systems Private Limited, further consolidating its control in the telematics and IoT solutions space.
As per the company's filing with the stock exchanges, MapmyIndia acquired 43,759 equity shares at a price of INR 5,713 each, amounting to INR 24.99 crore. Following this deal, its stake in Gtropy has increased from 76 percent to 96 percent on a fully diluted basis, effectively making Gtropy a wholly owned subsidiary.
The acquisition aligns with MapmyIndia's broader strategy to strengthen its presence in connected mobility and telematics. Gtropy specialises in fleet management, IoT, and GPS tracking services, and the integration is expected to enhance MapmyIndia's capabilities in providing comprehensive geospatial and IoT-driven solutions. These services cater to enterprises, logistics operators, and mobility service providers that rely on real-time tracking and data analytics.
MapmyIndia had announced its intention to acquire the remaining stake in Gtropy on August 7, 2025. The latest completion marks a significant step in executing that plan.
The company has also reported financial performance for the first quarter of FY26. Revenue grew by more than 21 percent year-on-year to INR 122 crore from INR 101 crore in the same period last year. Profit rose 28 percent to INR 46 crore compared to INR 36 crore a year earlier, while EBITDA reached INR 68 crore.
In a separate move earlier this month, MapmyIndia invested INR 25 crore in quick commerce startup Zepto, acquiring a 0.049 percent stake.
