The board of directors of MapmyIndia (C. E. Info Systems Limited), in a meeting held on November 27, 2023 gave their nod to the proposal for raising funds up to INR 5,000 million via qualified institutional placement (QIP) route, a regulatory filing stated. The board inter-alia approved the "raising of funds by way of issuance of such number of equity shares having face value of INR 2 each of the company, for an aggregate amount not exceeding INR 5,000 million or an equivalent amount thereof by way of qualified institutional placement in accordance with the applicable laws", CE Info Systems Ltd, the owner of MaymyIndia, informed the exchanges. The fund raise would be subject to the receipt of necessary approvals from the company's shareholders, and regulatory and statutory bodies, it added.