MapmyIndia’s ₹1040 crore IPO will open this week at a price band of ₹1,000-₹1,033
- The lot size will be of 14 equity shares and in multiples of 14 shares thereafter.
- MapMyIndia is looking to sell 1,00,63,945 equity shares at a face value of ₹2.
- The company counts PhonePe, Flipkart, Yulu, HDFC Bank and Airtel as its customers.
AdvertisementThe initial public offering (IPO) of CE Info Systems — which operates MapmyIndia — will open for subscription this week on December 9. The price band for the public issue has been fixed at ₹1,000-1,033.
The IPO size is ₹1,040 crore.
The public issue will close on December 13. The lot size will be of 14 equity shares and in multiples of 14 shares thereafter. Retail investors will have to shell out at least ₹14,000 to buy one lot.
The company was founded in 1995 by Rakesh and Rashmi Verma.
MapmyIndia is looking to sell 1,00,63,945 equity shares. The entire offer is completely an on offer for sale (OFS) by existing shareholders of the company.
Source: MapMyIndia’s red herring prospectus
|Stakeholders||OFS (equity shares)|
|Rashmi Verma, cofounder of MapmyIndia||42,51,044|
|Qualcomm Asia Pacific||27,01,407|
|Other selling shareholders||1,741,533|
MapmyIndia is an Indian technology company that builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services. It is essentially a business-to-business (B2B) and business-to-business-to-customer (B2C) platform, MapmyIndia’s chief executive (CEO) Rohan Verma highlighted.
The company counts PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis and Safexpress as its customers. It has over 500 customers.
MapmyIndia reported a profit of ₹59.4 crore in fiscal year 2021 and the revenue was at ₹152 crore.
The book running lead managers to the issue are Kotak Mahindra Capital Company, Axis Capital, JM Financial, and DAM Capital Advisors.
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