The Digital Navigation Company cultivated in the Mapmyinida house purchased strategic shares in the rapid company of Zepto trade with a pre-Money evaluation of 5.8 billion dollars, said a high official of the map service company.The pre-Money evaluation refers to an estimated evaluation of a company before receiving funds from investors.
According to a regulatory deposit by CE info system, owner of Mapmyindia, the company intends to invest about RS 25 crores to subscribe to 75.18.797 actions convertible preferences (CCP) on a completely diluted base with a nominal value of RS 5 each at a price of RS of RS 33.25 for CCPS.
“We have acquired actions in a secondary sale from a foreign investor of Zepto with a pre-Money evaluation of 5.8 billion dollars. It is a strategic participation and, according to the agreement, Zepto will use our maps for navigation,” the president and the managing director of Mapmyindia Rakesh Varma told PTI.With this investment, Mapmyindia will clean up a participation of 0.0490 percent in the share capital of Zepto.
According to the deposit, Zepto recorded a growth of revenue over 100 % to 4.454.52 RS in Fy24 from RS 2,024.4 Crore in exercise23.
