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MapmyIndia Makes A Remarkable Entry On The Market and Listed With A Premium Of 53% Over The Issue Price

CE Info Systems (MapmyIndia) shares are quoted at a premium of 53% over today's issue price, which is an outstanding listing for the leading provider of advanced digital maps. The company debuted at Rs 1,581 per share (up 53.05%) on the BSE from the IPO issue price of Rs 1,033.

By contentwriteramisha

MapmyIndia Makes A Remarkable Entry On The Market and Listed With A Premium Of 53% Over The Issue Price

The company's market capitalization rose to Rs 8,417 billion. A total of 0.62 lakh shares of the company changed hands, corresponding to BSE sales of Rs 9.84 billion.

On the NSE, the stock traded at Rs 1,565, 51.50% higher than the IPO price. The company's market capitalization reached Rs 8,332 billion. A total of 11.25 lakh shares of the company changed hands, representing Rs Rs 1,761 billion in sales on the NSE.

The IPO price range was between Rs 1,000 and Rs 1,033 per share. The IPO took place from December 9th to 13th. The sale of the shares was subscribed 154.71 times on the last day.

The IPO of the company, which owns the MapmyIndia brand, received offers for 108.98 crore shares for an offer of 70.44 lakh shares. Small investors offered 15.20 times the allotted quota and the proportion of non-institutional investors was subscribed 424.69 times. Qualified institutional buyers offer 196.36 times their allotted share.

The company raised Rs 1,039.6 crore through the show. The company that funds Apple Cards raised Rs.312 billion from key investors the day before going public.

He issued 30.19 lakh shares to 24 major investors at Rs 1,033 each, bringing the transaction size to Rs 312 billion.

Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, and HSBC were allotted by MapmyIndia in the anchor book.

Half of the issue volume was reserved for qualified institutional buyers (QIB), 15% for non-institutional investors, and 35% for private investors.

Axis Capital, JM Financial, Kotak Mahindra Capital, and DAM Capital Advisors were the main managers of the show.

The IPO was solely an offer for sale (OFS) of up to 10,063,945 shares by existing shareholders and promoters.

C.E. Info Systems is supported by global wireless technology company Qualcomm and Japanese digital mapping company Zenrin. The New Delhi-based company is a leading provider of advanced digital maps, spatial software, and location-based IoT technologies.

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