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MapmyIndia IPO opens today; raises ₹312 cr from anchor investors

K. S. Badri Narayanan | | | Updated on: Dec 09, 2021

The issue will close on December 13. Minimum bid quantity is 14 shares | Photo Credit: Company Pic

MapmyIndia IPO will open for public subscription today.

The ₹1,040-crore initial public offering of CE Info Systems Ltd (MapmyIndia), which powers Apple maps, will open for public subscription today. The company has fixed the price band for its IPO at ₹1,000-1,033. The issue will close on December 13. Minimum bid quantity is 14 shares.

The MapmyIndia IPO is purely an offer for sale of 1 crore equity shares by promoter Rashmi Verma (42.51 lakh shares) and selling shareholders Qualcomm (27.01 lakh shares) Zenrin Co Ltd (13.70 lakh shares).

MapmyIndia.com IPO

Anchor investors

CE Info Systems, that operates popular site MapmyIndia.com, on Wednesday raised ₹311.88 crore from 34 anchor investors. The company in consultation with merchant bankers has decided to allot 30.19 lakh shares to anchor investors at ₹1,033 a share.

Among the marquee investors included global funds such as Fidelity, Nomura, Goldman Sachs, HSBC Global, Morgan Stanley, University of Notre Dame DU LAC, Volrado Venture, Aberdeen Standard Asia Focus Plc, Theleme India Master Fund, Pinebridge Global Funds and Alchemy Leaders.

Besides, domestic majors such as SBI Mutual Fund, HDFC Trustee Company, ICICI Prudential, Aditya Birla Sun Life Trustee, Nippon Life, HDFC Life Insurance, Tata AIA Life Insurance, Tata Mutual Fund, Sundaram Mutual Fund, IDFC MF, and Edelweiss Trusteeship have also participated in the anchor book.

While half of the issue size has been reserved for qualified institutional buyers, 15 per cent has been reserved for non-institutional bidders and 35 per cent of the offer shall be available for allocation to retail individual bidders.

CE Info Systems Ltd 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”). It is one of the leading providers of advanced digital maps, geospatial software and location-based IoT technologies.

The company has over 2,000 customers across MaaS, SaaS, IoT solutions and application programming interface (API).

Published on December 09, 2021
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