The initial public offering of C.E. Info Systems Limited (MapmyIndia), which powers Apple maps will open on December 9, 2021.

The company has fixed the price band for its IPO at ₹1,000- ₹1,033 per equity share. The IPO will close on December 13, 2021. The offer will open for anchor investors on December 08, 2021.

The offer consists of an offer for sale of 10,063,945 equity shares. Promoter Rashmi Verma will be selling up to 4,251,044 equity shares while up to 2,701,407 shares will be offloaded by Qualcomm Asia Pacific Pte. Ltd and up to 1,369,961 shares will be sold by Zenrin Co., Ltd.

Currently, promotors Rakesh Kumar Verma and Rashmi Verma hold a 28.65 per cent and 35.88 per cent stake in the company, respectively.

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.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited are the book running lead managers to the Offer. Link Intime India Private Limited is the registrar to the Offer.

C.E. Info Systems Limited (MapmyIndia) 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 mapping tech company has over 2,000 customers across map-as-a-service, software-as-a-service (SaaS), IoT solutions and application programming interface (API).

The 26-year-old mapping tech company MapmyIndia has been powering some of the leading companies in India and globally including Apple, Uber, Amazon, BMW, Honda, Toyota, Mercedes, Ola, Yulu, Flipkart, Ola, Amazon, HDFC bank, Central Board of Direct Taxes, Umang App, Indian Space Research Organisation (ISRO), State governments and many more. The company’s repository of mapping data of the Indian landscape covers 6.3 million road kilometres, 7,933 towns and cities, 6,37,472 villages, 17.79 million places across categories.

The company is profitable. It’s cash flow from operations grew 152.6 per cent between FY20 and FY21 reaching ₹98.5 crore, according to the Draft Red Herring Prospectus (DRHP).

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