C.E. Info Systems', the parent of MapmyIndia, share sale through initial public offering (IPO) opened for subscription on Thursday, December 9 and was subscribed over 50 per cent within a few hours of opening. The company is planning to raise Rs 1,040 crore from the IPO which is purely an offer for sale. Its investors Rashmi Verma, Qualcomm Asia Pacific and Zenrin Co. Ltd are selling shares in the IPO.
C.E. Info Systems', the parent of MapmyIndia, share sale through initial public offering (IPO) opened for subscription on Thursday, December 9 and was subscribed over 50 per cent within a few hours of opening. The company is planning to raise Rs 1,040 crore from the IPO which is purely an offer for sale. Its investors Rashmi Verma, Qualcomm Asia Pacific and Zenrin Co. Ltd are selling shares in the IPO.
The company has fixed price band of Rs 1,000-1033 per share and a retail investor can bid for minimum one lot of 14 shares up to maximum of 13 lots. One lot of MapmyIndia shares will cost Rs 14,462 at the upper range of the price band.
The IPO will close on December 13 and shares are expected to list on December 21.
Here are details of MapmyIndia IPO:
50 per cent of the IPO is reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors and high net worth individuals.
MapmyIndia is a provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. The company is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS).
Some of the company's customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, and Hyundai.
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