MapmyIndia The shares of the brand promoter company CE Info Systems have been listed on the stock exchange today on 21 December 2021. The company has shown listing at a premium of 53 per cent against the price band of Rs 1,033 per share. The shares of MapmyIndia are listed on BSE at Rs 1581 per share and on NSE its shares are listed at Rs 1565 per share. Even in the recent falling market, investors have got good listing gains from the mega listing of MapmyIndia shares.
Know about IPO
MapmyIndia’s IPO was open for subscription from December 9 to December 13. Mapmyindia’s IPO was subscribed 154.17 times. The company had fixed the issue price in its IPO at Rs 1000–1033 per share. The face value of Rs 2 shares had a share price of Rs 1033 but it got a good response from the investors. 424.69 times the subscription in the IPO came from non-institutional investors. Institutional investors had subscribed 196.36 times to the IPO. The share of retail investors was subscribed 15.20 times.
IPO Completely Offer for Sale
This IPO is completely offer-for-sale (OFS), under which the promoters and shareholders of the company are selling their stake, it is clear that the money being raised from the IPO (OFS) will not be given to the company but to the shareholders selling the stake.
At what premium were the company’s shares available in the gray market?
The company’s shares were running at a premium of about 50 percent in GMP, due to which it was already estimated that the listing of its shares could be above Rs 1500 and this has happened.
Know about the company
MapmyIndia is one of the leading companies in the country providing digital maps, geospatial software and location based 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.
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