MapmyIndia will make its debut on the stock exchange today— GMP at ₹730
- The IPO of CE Info Systems, the parent company of MapMyIndia, was oversubscribed by 154 times.
- The grey market premium (GMP) of MapmyIndia was at ₹730 on December 20.
- The company has 500 clients, including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor.
AdvertisementCE Info Systems — which operates MapmyIndia — will make its debut on the stock exchange today, December 21, after its initial public offering (IPO) was oversubscribed by 154 times.
The portion reserved for the non institutional investors (NII) was oversubscribed by 424 times, as per data shared by the stock exchanges.
|Qualified Institutional Buyers (QIB)||196.36|
|Non Institutional Investors (NII)||424.69|
The price band for the public issue was fixed at ₹1,000-1,033, and the lot size was 14 equity shares.
MapmyIndia has raised ₹1,040 crore through an offer for sale (OFS) by existing shareholders of the company. The grey market premium — premium at which companies’ shares are being traded in the grey market — was ₹730 on December 30.
The company was founded in 1995 by Rakesh and Rashmi Verma, and it is now headed by Rohan Verma. It builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services.
MapmyIndia reported a profit of ₹59.4 crore in fiscal year 2021 and the revenue was at ₹152 crore. The company has 500 clients, including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis and Safexpress.
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