The Board of Directors of C.E. Info Systems Limited (the "Board"), at its meeting held on November 29th, 2024, commenced at 06:45 PM and concluded at 8:40 PM has considered & approved to make an investment of Rs 3,00,00,000/- (Rupees Three Crore only), in the form of Equity Share(s) & Compulsorily Convertible Preference Shares (CCPS) in one or more tranches, to acquire 9.37% stake on fully diluted basis in M/s. SimDaaS Autonomy Private Limited which is engaged in simulation-driven development for autonomous systems, including autonomous vehicles and advanced driverassistance systems (ADAS). The proposed investment is part of the Company's strategic initiatives to support innovative technologies and enhance the business portfolio of the Company.
The Board considered & approved to make investment of Rs. 2,00,00,000/- (Rupees Two Crore only) in the form of Compulsorily Convertible Preference Shares (CCPS) in one or more tranches, to acquire 19.84% stake on fully diluted basis in M/s. Kaiinos Geo Spatial Technologies Private Limited which is engaged in developing intelligent systems for strategymaking and execution for GIS Companies. The proposed investment is part of the Company's strategic initiatives to support innovative technologies and enhance the business portfolio of the Company.
The Board considered the proposal that B2C business requires full focus, necessitating a dedicated separate Company. Mr. Rohan Verma is in the process of starting a new company in the segment of B2C. The Board considered & approved to make an investment of Rs. 10,00,000/- (Rupees Ten Lakhs only) to acquire 10% stake at face value of Rs. 10 per share and further invest Rs. 35 Crores in the form of Compulsorily Convertible Debentures (CCDs) in the proposed new Company to be formed by Mr. Rohan Verma for doing the B2C business exclusively. The proposed investment is part of the Company's strategic initiatives to support innovative technologies, while maintaining its exclusive focus on B2B & B2B2C business.
Mr. Rohan Verma, will take an executive position in the new Company effective from 1st April, 2025. He will discontinue as CEO & Whole Time Director of the Company w.e.f. 31st March, 2025. He shall continue on the Board of the Company as a Non-Executive Director. Mr. Rakesh Kumar Verma, CMD will continue to provide the leadership in the Company.
Shares of C E Info Systems Limited was last trading in BSE at Rs. 1753.80 as compared to the previous close of Rs. 1748.30. The total number of shares traded during the day was 6864 in over 1254 trades.
The stock hit an intraday high of Rs. 1764.95 and intraday low of 1720.00. The net turnover during the day was Rs. 11981789.00. |
