MapmyIndia raises stake to 96% in Gtropy Systems

C.E. Info Systems Limited, known as MapmyIndia, has completed the acquisition of additional shares in Gtropy Systems Private Limited to strengthen its control in the telematics and IoT solutions firm.

According to the company’s filing with the stock exchanges, MapmyIndia acquired 43,759 equity shares at Rs 5,713 per share, amounting to an investment of Rs 24.99 crore. With this transaction, MapmyIndia’s shareholding in Gtropy has risen from 76% to 96% on a fully diluted basis, making it a wholly owned subsidiary.

This acquisition is part of MapmyIndia’s strategy to expand its footprint in the connected mobility and telematics space, where Gtropy provides advanced fleet management, IoT, and GPS tracking solutions. As per the company, the move is expected to enhance MapmyIndia’s capabilities in offering integrated mapping, geospatial, and IoT-based solutions to enterprises, logistics firms, and mobility players.

MapmyIndia had earlier disclosed the planned acquisition on August 7, 2025, and has now completed the transaction.

The company reported a year-on-year revenue growth of over 21% to Rs 122 crore in Q1 FY26 from Rs 101 crore in Q1 FY25. MapmyIndia recorded a 28% increase in its profit to Rs 46 crore during Q1 FY26, compared to Rs 36 crore in the first quarter of the previous fiscal year. The company’s EBITDA stood at Rs 68 crore for the quarter.

Earlier this month, MapmyIndia also invested Rs 25 crore in Zepto, acquiring a 0.049% stake to strengthen its presence in the fast-growing quick commerce space.

The company is currently trading at Rs 1,646 per share, with a market capitalization of Rs 9,007 crore ($1 billion).