This company has expertise in Geographical Information System (GIS) and Geospatial Engineering. It provides solutions in cutting edge remote sensing, LiDAR, aerial survey, photogrammetry and ICT-based e-governance. The company today said that it has received funding of Rs 250 crore from Malabar India Fund and several other investors. This was approved in the meeting of the Board of Directors of the company held yesterday. Out of the total funding, Malabar India Fund has invested Rs 100 crore through equities and warrants. The rest of the funding for the company has come from investors like Sundar Iyer, Mathew Cyriac, Inder Soni, Vijay Karnani, Ashish Nanda, Kamlesh Shah, Sanjana Deepak Gupta and Abhinaya Chakravarthi.
Why is the company’s stock rising?
What is the purpose of this funding? Prime Minister Narendra Modi launched the new geospatial policy. In view of this, the company has established a state-of-the-art 3D mapping platform. The company says that the proceeds from the funding will be used to develop mapping capability and enhance the Content as a Service platform. This funding will be used in target sectors like Saathi Hi Utilities, Big Tech, Smart Cities and Digital and E-commerce.
The stock of Genesys International has given multibagger returns over the past one year but most of the gains have come in the last six months. The stock got a fresh rating when veteran investor Ashish Kacholia bought the company’s shares in the December quarter. Not only this, the demand for geospatial services is increasing continuously. There are very few companies in this sector in the world. So Genesys International is in a position to take advantage of this. At 10:20 am, the company’s stock was trading 2.34 percent higher at Rs 598.
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