MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing

• Shares of MapmyIndia listed at ₹1,581 while the price band was fixed at ₹1,000-1,033 per share.
• The IPO was a hit among investors as it has been subscribed just 154.71 times on the last day of the bidding.
• The market capitalisation of the company stood at ₹8,417.71 crore.

CE Info Systems — the parent company of MapmyIndia and the most awaited listing made a strong debut on the National Stock Exchange (NSE) and BSE despite weak market trends. The stock listed at ₹1,581, which is 53% more than the issue price band of ₹1,000-1,033 apiece.

Investors have been expecting huge listing gains due to high grey market premium, positive recommendation by analysts as MapmyIndia is a pioneer in digital maps. However, some expectations have been tapered down due to poor market sentiment.

“It was expected that this can give more than 100% return on a listing day however expectations have tapered down amid sharp correction in the market where the grey market premium is indicating a listing gain of around 70-75%,” said Aayush Agrawal, senior analyst at Swastika Investmart.

Post listing, the market capitalisation of the company stood at ₹8,417.71 crore, according to BSE data.

The grey market had indicated a strong listing too as unlisted shares of MapMyIndia were commanding a marginal premium of ₹700 per share.

The IPO, which was open between December 9 and December 13, received strong response from investors. It was subscribed 154.71 times on the last day of the bidding.

The company is one of its kind that builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services.

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