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Home » Business » MapmyIndia IPO Opens Today: 10 Points To Know Before Investing

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MapmyIndia IPO Opens Today: 10 Points To Know Before Investing

The digital mapping brand announced that it has mobilised Rs 312 crore from anchor investors.

IPO Image for representation
In the year 2021, there seemed to be a lot of profit in the IPO market. Image used for representational purposes.

New Delhi: The Initial Public Offer (IPO) of MapmyIndia brand is all set to open on December 9 and the three-day issue will close on December 12. The brand owned by CE Info Systems has one of the leading companies in providing advanced digital maps, location based IoT technology and geospatial software in the country. According to the company, it has mapped over 6 million kilometers which totals to about 98.5 per cent of India’s road network.

The digital mapping brand on Wednesday announced that it has mobilised Rs 312 crore from anchor investors ahead of its initial share sale, which points to optimistic investor sentiment.

Before investing, investors must keep in mind these 10 points:

1. MapmyIndia IPO Date

The IPO of the company will open on December 9 for subscription and bidding can continue till December 13.

2. MapmyIndia IPO size

The size of offer up for sale is 1,00,63,945 equity shares. According to the company statement, the IPO is purely offer-for-sale (OFS), which means that the promoters and shareholders will sell their stake in the company. The IPO proceeds will not go to the company, but will go to the shareholders selling the shares.

3. MapmyIndia IPO Price Band

The price band of the IPO has been fixed at Rs 1,000–1,033 per share. The face value of each share is Rs.2 for its upcoming initial public offer (IPO). According to the upper price band, their offer value will come to Rs 1,039.6.

4. MapmyIndia IPO Details

MapmyIndia’s shareholder Rashmi Verma, under the offer-for-sale (OFS), will sell 42,51,044 equity shares. At the same time, Qualcomm Asia Pacific and Zenrin will sell 27,01,407 and 13,69,961 shares respectively. In addition, 17,41,533 equity shares will be put up for sale by other shareholders.

5. MapmyIndia IPO

As per the company, 50 per cent of the IPO can be reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors. After the listing of the IPO, the promoters’ stake in the company will reduce to 53.73 per cent from the current 61.71 per cent.

6. Lot Size

Mapmyindia investors can bid in lots of 14 equity shares. A maximum of 13 lots can be bid. The minimum investment required to bid for one lot is Rs 14,462 and for the maximum bid of 13 lots, Rs 1,88,006 has to be invested.

7. MapmyIndia IPO GMP

As per IPO watch, Mapmyindia share is trading at a premium of Rs.650 in the gray market, which suggests that this IPO may get a great response from the investors.

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8. MapmyIndia IPO Listing

The allotment of shares will happen on December 16. The investors who will get the shares, the shares will be credited in their Demat account till December 20. On the other hand, for the investors who will not get the shares, their money will be refunded by the next day i.e. December 17.

9. MapmyIndia IPO Allotment Date

Shares of Mapmyindia are expected to get listed on both the BSE and NSE exchanges on December 21.

10. Company Profile

CE Info Systems founded in 1995, is a data and technology company and works as a Digital Map as a Service (MaaS) and Platform as a Service (PaaS) company. The digital mapping company is backed by global wireless technologies giants like Qualcomm and Japanese digital mapping Zenrin. It develops products, platforms, application programming interfaces (APIs) and solutions in digital map data, software and IoT under the MapMy India and Mappls brands. The company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Axis SafeExpress and Goods and Services Tax Network (GSTN). As per Bloomberg, between April, MapmyIndia earned Rs 100 crore in revenue from operations, compared to Rs 152 crore in the previous fiscal.

(With inputs from PTI)

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