MapmyIndia’s IPO opens today — GMP at ₹784

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MapmyIndia’s IPO opens today — GMP at ₹784
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  • 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 initial public offering (IPO) of CE Info Systems — which operates MapmyIndia — will open for subscription today, December 9. The price band for the public issue has been fixed at ₹1,000-₹1,033.

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.

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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.

DetailsDate
IPO Opening DateDecember 9
IPO Closing DateDecember 13
Basis of Allotment DateDecember 16
Initiation of RefundsDecember 17
Credit of Shares to Demat AccountDecember 20
IPO Listing DateDecember 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.
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MapmyIndia reported a profit of ₹59.4 crore in fiscal year 2021 and the revenue was at ₹152 crore.

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