C.E. Info Systems, the parent company of MapmyIndia, on Monday announced that its board has approved an investment of Rs 2 crore in indoor navigation startup Iwayplus Private Limited.
In a regulatory filing, the company said the investment will be made through Compulsorily Convertible Preference Shares (CCPS) in one or more tranches. Post conversion, C.E. Info Systems will hold a 6.06% stake on a fully diluted basis in Iwayplus.
The board meeting approving the investment was held on January 12, 2026, and commenced at 12:15 PM, concluding at 2:40 PM.
Strategic investment in indoor navigation technology
According to the disclosure, the proposed investment is part of C.E. Info Systems’ strategic initiatives aimed at supporting innovative technologies and expanding its business portfolio. Iwayplus operates in the indoor navigation and wayfinding segment, offering digital indoor mapping, positioning systems, and location-based services.
Iwayplus develops proprietary software platforms and mobile applications supported by hardware technologies such as Bluetooth Low Energy (BLE) beacons and sensors. Its solutions are deployed across large indoor environments including hospitals, airports, academic campuses, malls, IT parks, museums, and exhibition centres.
Financials and structure of the deal
The Rs 2 crore investment will be made entirely in cash. The acquisition does not fall under related party transactions, and the promoter group of C.E. Info Systems has no interest in the target entity.
Iwayplus was incorporated on December 26, 2022, and operates exclusively in India. As per the disclosure, the company reported turnover of Rs 0.19 crore in FY24 and Rs 0.76 crore in FY25, while it had no revenue in FY23.
No governmental or regulatory approvals are required for the transaction. The company expects the investment process to be completed within a period of three months.
The details were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.