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MapmyIndia's revenue growth has slowed in the first half of the current fiscal year compared to FY24, following a backlash from investors that led to a 12% drop in stock value. The company withdrew a funding plan for a promoter group firm, highlighting risks associated with related party transactions. CEO Rohan Verma is departing to establish a new entity focused on the consumer business.
MapmyIndia's recent decision to separate its B2C venture has raised governance concerns among shareholders, leading to a decline in stock prices. In response to investor apprehensions, CEO Rohan Verma announced he would personally fund the new entity, ensuring no company funds would be utilized. This move has disappointed some investors who were optimistic about the consumer-facing business's potential.
MapmyIndia's recent corporate action has raised concerns among minority shareholders, resulting in a stock price drop of over 10%. Despite this, the company's quarterly performance shows improved realisations, and medium-term prospects remain positive due to factors like protectionist measures in the tyre industry. The current CEO, Rohit Verma, is set to step down, prompting discussions about the implications for the business.
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