MapMyIndia CEO Rohan Verma will personally fund a new B2C venture, addressing minority investor concerns about the initial plan. While MapMyIndia reta

MapMyIndia shares gained over 3% on December 4 after CEO Rohan Verma chose to personally fund the company’s B2C venture, responding to concerns from minority investors. This came after a 12% drop in the stock over two days,

As Bengaluru-based MapMyIndia's CEO Rohan Verma steps down to pursue a new B2C venture, take a look at the details of the plan, disclosures, regulatory requirements, and key aspects investors should know.

Shares of CE Info Systems, the owner of homegrown digital map company MapmyIndia, tanked as much as 9% on to hit a 52-week low on Tuesday after the firm said it is spinning off its business-to-consumer (B2C) digital business into a separate entity.

The new venture will be run by Rohan Verma, the current CEO and Executive Director at MapMyIndia (CE Info Systems), with the company taking a 10% stake in the new entity and providing an additional funding of Rs 35 crore via a CCD.

Rohan Verma's departure as CEO to set up a new venture could create a leadership vacuum, according to analysts

MapMyIndia will transfer its Mappls Mall and Travel app for hotel and flight booking to the new company headed by the founder's son Rohan Verma, who has stepped down as MapMyIndia CEO.

MapMyIndia plans to separate its B2C division into a new entity, led by current CEO Rohan Verma. The new venture, in which MapMyIndia will retain a 10% stake, will focus on consumer products under the Mappls brand.

MapmyIndia's former CEO and Executive Director Rohan Verma will hold a 90% stake in the new company while the balance 10% will be with MapmyIndia.