Mapmy India IPO Listing On 21st December 2021 On Stock Exchanges Amid Market Turmoil, Know GMP Detaisl


MapmyIndia IPO: The IPO of MapmyIndia brand promoter company CE Info Systems is going to be listed on the stock exchange on Tuesday, December 21, 2021. MapmyIndia IPO is trading at a premium of 50 per cent in the gray market. The company had fixed a price band of Rs 1,000–1,033 per share. This means that the IPO of MapmyIndia can be listed on the stock exchanges for close to Rs 1500 per share.

MapmyIndia has raised Rs 1040 crore through IPO. The company is one of the leading companies in the country providing digital maps, geospatial software and location based IoT technology. MapmyIndia has created a digital map of more than 6 million kilometers, which is about 98.5 percent of India’s total road network. The company’s clients include PhonePe, Flipkart, HDFC Bank, Airtel, MG Motors.

IPO Details

MapmyIndia’s IPO was open for subscription from December 9 to December 13. The company had fixed a price band of Rs 1,000–1,033 per share for a face value of Rs 2. This IPO is purely offer-for-sale (OFS). This means that under this the promoters and shareholders of the company will sell their stake. This means that the money being raised from the IPO will not go to the company but to the shareholders who are selling the stake.

MapmyIndia IPO GMP

When the IPO came in the market, the shares of MapmyIndia IPO were trading at a premium of Rs 650 in the gray market. However, there has been a slight decline in the gray market premium due to poor sentiment due to the continuous fall in the stock market. MapmyIndia shares will be listed on both BSE and NSE exchanges.

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