MapMyIndia IPO to open on Dec 9: Check Issue date, price band, GMP and other details

The IPO of CE Info Systems, the parent company of MapmyIndia, will go live for subscription on December 9. The company has set a price band of Rs 1,000-1,033 per equity share for the Rs 1,040 crore-IPO. The three-day initial share sale will conclude on December 12. The bidding for anchor investors will open on December 8.

The MapmyIndia IPO, which powers Apple Maps, is completely an OFS (Offer for Sale) up to 10,063,945 shares by existing shareholders and promoters. Rashmi Veri is offloading 42.51 lakh shares, Qualcomm Asia Pacific Pte Ltd will sell 27.01 lakh shares and Zenrin Co ltd will offload 13.7 lakh equity shares. Additionally, 17.41 lakh shares will be offloaded by other shareholders.

MapMyIndia IPO: From issue date to lot size, all key details

• MapMyIndia IPO date: December 9- December 12
• Price band: Rs 1,000-1,033 a share
• Lot size: One lot contains 14 shares and in multiples thereof
• MapMyIndia IPO size: Rs 1,040 crore is entirely an OFS
• Likely MapMyIndia IPO share allotment date: December 16
• Likely MapMyIndia IPO listing date: December 22 on BSE and NSE

MapmyIndia IPO GMP

The grey market premium (GMP) is a demand in the unofficial market of a share that is going to list on Indian bourses- BSE and NSE. MapmyIndia shares in the grey market have received a massive response with a premium of nearly Rs 800. 

50% of the issue size has been set aside for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors. JM Financial, Axis Capital, DAM Capital Advisors, and Kotak Mahindra Capital are the lead managers to the issue. 

About MapmyIndia

The Delhi-headquartered company is backed by semiconductor company Qualcomm and Japanese digital mapping Zenrin. It is a leading provider of digital maps, location-based IoT technologies and geospatial software.

The company provides products, platforms, APIs and solutions across a range of digital map data, IoT (Internet of Things) and software under the MapmyIndia and Mappls brands. Some of its customers are Flipkart, PhonePe, HDFC Bank, Yulu, Hyundai, Airtel, Avis, Apple, MG Motor, Goods and Service Tax Network (GSTN) and Safeexpress.

E-commerce food delivery platforms Grofers, McDonald's and Cars24 use MapmyIndia maps. Store locators by companies like Bajaj Finserv, Prasar Bharti DTH Dealer locator and SBI Branch locator use the same.