MapmyIndia IPO subscribed 154 times on final day; check share allotment, listing details

The initial public offering (IPO) of CE Info Systems, which runs the brand MapmyIndia, was subscribed 154.71 times on the third and final day of subscription on December 13. The IPO received bids for 108.98 crore equity shares against an offer size of 70.44 lakh shares.

Retail investors applied for 15.20 times the allotted quota and the portion for non-institutional investors was subscribed 424.69 times. Qualified institutional buyers put in bids for 196.36 times their allotted portion.

The IPO opened on December 9, 2021. Shares in the IPO were offered in a price band of Rs 1,000-1,033. The firm has raised Rs 1,039.6 crore from the issue. The company, which powers Apple maps, on December 8 collected Rs 312 crore from anchor investors. It allotted 30.19 lakh equity shares to 24 anchor investors at Rs 1,033 apiece, taking the transaction size to Rs 312 crore.

Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen and HSBC were allocated equity shares by MapmyIndia into the anchor book. Allotment of shares will be done on December 16 and the stock is likely to be listed on December 21, 2021.

Half of the issue size was reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for the retail investors. Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors were the lead managers to the issue.

The objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.

The IPO is entirely an offer for sale (OFS) of up to of up to 10,063,945 equity shares by existing shareholders and promoters. The offer for sale comprised sale of up to 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 lakh equity shares by Zenrin Co Ltd.

The remaining 17.41 lakh equity shares were sold by several other shareholders.

C.E. Info Systems Ltd, popularly known through its brand MapmyIndia, is backed by global wireless technologies company Qualcomm and Japanese digital mapping Zenrin. The New Delhi-based company is a leading provider of advanced digital maps, geospatial software and location-based IoT technologies.