MapmyIndia reverses decision to make equity/debt investment in new company

Quick Summary:

The company’s decision comes days after it said it would make a Rs 35 crore investment in outgoing CEO Rohan Verma’s B2C venture.

The shares of the company had hit a 52-week low of Rs 1,534 on December 3, a day after it discussed its move in a conference call.

However, the reversal has brought a much-needed recourse to the company’s share price, which surged by 16.3% to close at Rs 1,909.95 on BSE today.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Decision Providing Board Policy Investment Company Venture Verma Privacy Company’s Information

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 15:40:12 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Readers: 56 people read this story

Article Length: 294 words

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Sentences: 17 lines

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News ID: 24283309

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