Pupilmesh Geospatial Company will be acquired by MapmyIndia
Pupilmesh Geospatial Company – CE Infosystem, which operates under the MapmyIndia brand, announced on Wednesday that it will purchase a 9.9% interest in geospatial firm Pupilmesh Private Limited for around Rs 49 lakh.
According to a regulatory filing, MapmyIndia anticipates the acquisition to assist its navigation business opportunity. The company does not need government clearance for the acquisition, according to the application, and expects it to be completed in a month. On January 27, the company’s board of directors approved the transaction. According to the statement, Pupilmesh’s turnover jumped to Rs 2.37 lakh in FY 2021 from Rs 37,454 in FY 2020.
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