C.E. Info Systems Limited — Updates, 01-12-2024: Press Release

MapmyIndia remains committed to its core B2B and B2B2C businesses while planning a strategic expansion into the consumer market. CEO Rohan Verma will launch a new B2C venture, transitioning to a non-executive director role at MapmyIndia effective April 1, 2025. The company is set to acquire a 10% equity stake in this venture and invest an additional ₹35 crores via CCDs. This new entity will leverage the brand Mappls and will operate independently, ensuring no financial impact on MapmyIndia’s books as it progresses in the consumer business.

The leadership stated that the consumer business will not distract from MapmyIndia’s focus on its market-leading B2B offerings, which currently enjoy significant growth potential. The investment strategy reflects a balanced approach, allowing Verma to concentrate on the new venture while ensuring the founders remain focused solely on advancing MapmyIndia’s core operations. Investors should observe this strategic move closely, as it may open new revenue streams while maintaining the robustness of the existing business model.