MapmyIndia’s IPO opens today — GMP at ₹784
- The price band for the public issue has been fixed at ₹1,000-₹1,033.
- The lot size will be of 14 equity shares and in multiples of 14 shares thereafter.
- MapMyIndia counts PhonePe, Flipkart, Yulu, HDFC Bank and Airtel as its clients.
The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at ₹784 on December 8.
MapMyIndia’s ₹1,040 crore IPO will close on December 13. The company is looking to sell 1,00,63,945 equity shares, consisting entirely of an offer for sale (OFS) by existing shareholders of the company.
AdvertisementThe 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.
|IPO Opening Date||December 9|
|IPO Closing Date||December 13|
|Basis of Allotment Date||December 16|
|Initiation of Refunds||December 17|
|Credit of Shares to Demat Account||December 20|
|IPO Listing Date||December 21|
MapMyIndia was founded by Rakesh and Rashmi Verma in 1995, and it is currently headed by Rohan Verma. The company that builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services.
MapMyIndia counts PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis and Safexpress as its customers. It has over 500 customers. It is essentially a business-to-business (B2B) and business-to-business-to-customer (B2C) platform, MapmyIndia’s chief executive (CEO) Rohan Verma highlighted.
MapmyIndia reported a profit of ₹59.4 crore in fiscal year 2021 and the revenue was at ₹152 crore.
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