MapmyIndia IPO: The IPO of MapmyIndia brand promoter company CE Info Systems is going to open from December 9. The company plans to raise Rs 1040 crore through IPO. MapmyIndia 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.
Rs.1,000 to Rs.1,033 price band
MapmyIndia’s IPO will open for subscription on 9th December and for this investors can apply in the IPO till 13th December. The company has fixed a price band of Rs 1,000–1,033 per share for a face value of Rs 2. The offer size of the IPO is 1,00,63,945 equity shares. 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.
50% of the IPO can be reserved for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors and 35% for retail investors. After the listing of the IPO, the promoters’ stake in the company will come down to 53.73 per cent from the current 61.71 per cent. Mapmyindia investors can bid in lots of 14 equity shares of Rs 14,462 and any investor can bid for a maximum of 13 lots. To bid a maximum of 13 lots, an investment of Rs 1,88,006 will have to be made.
MapmyIndia IPO GMP
Shares of MapmyIndia IPO is trading at a premium of Rs 650 in the gray market, it is believed that there may be more volatility in it i.e. investors can make great gains on listing. Shares of MapmyIndia can be on both the BSE and NSE exchanges on December 21.
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