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MapmyIndia’s Rs 1,040-Crore IPO Kicks Off | What Are The Salient Features


<p><strong>New Delhi:</strong> The initial public offer (IPO) of CE Info Systems, which operates MapmyIndia, received bids for 18.62 equity shares against IPO size of 70.44 lakh equity shares, kicked off subscription on Thursday, the first day of bidding.</p>
<p>It is the 59th IPO that opened for subscription in 2021.</p>
<p>Retail investors have bought 53 per cent shares of their reserved portion, and non-institutional investors have put in bids for 1 per cent of shares set aside for them. Qualified institutional buyers have not started putting in bids for their allotted quota.</p>
<p>MapmyIndia shares are likely to be listed on the bourses &mdash; BSE and NSE &mdash; on December 21.</p>
<p>CE Info Systems is planning to mop up Rs 1,039.60 crore by issuing more than 1 crore equity shares through the IPO at the upper price band of Rs 1,033 per equity share.</p>
<p>Anchor investors have already invested Rs 311.88 crore in the company via the anchor book on December 8. The issue is entirely an offer-for-sale, hence all the money will go to selling shareholders.</p>
<p>Majority of the brokerage houses have suggested investors to subscribe to the issue, thanks to its high growth potential, conservative valuations, robust client base, and entry barrier to the business.</p>
<p>CE Info Systems is a data and technology products and Platforms Company, offering proprietary digital maps-as-a-service, software-as-a-service and a platform-as-a-service.</p>
<p>Potential investors are allowed to bid for shares in multiples of 14. At the upper end of the price band, one lot is worth Rs 14,462.</p>
<p>Of the total IPO, 50 per cent is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors.</p>
<p>Established in February 1995, CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). MapmyIndia provides products, platforms, application programming interfaces (APIs), and solutions across a range of digital map data, software and IoT.</p>
<p>CE Info Systems&rsquo; net profit stood at Rs 59.4 crore in the year ended March 2021, as against Rs 23.2 crore in the corresponding period a year ago. Its revenue from operations grew 2.6 per cent on a year-on-year basis to Rs 152.5 crore in FY21.</p>


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