MapmyIndia Share Listing Today: GMP, Share Price To Expect and more details

Shares of CE Info Systems, the parent company of MapmyIndia, will hit the stock market today as the MapmyIndia IPO is set for listing on the Indian market on 21st December 2021. The public issue worth Rs 1,040 crore, which opened for three days from December 9- December 12, was subscribed a total of 154.71 times. Ahead of its listing, the MapmyIndia IPO share is showing promise as its grey market premium continued to stay high.

MapMyIndia share price

The IPO of CE Info Systems or MapmyIndia, went live for subscription on December 9. The company had set a price band of Rs 1,000-1,033 per equity share for the Rs 1,040 crore-IPO. MapmyIndia, which powers Apple Maps, put up its IPO completely on OFS (Offer for Sale) up to 10,063,945 shares by existing shareholders and promoters. Rashmi Veri offloaded 42.51 lakh shares, Qualcomm Asia Pacific Pte Ltd sold 27.01 lakh shares and Zenrin Co ltd put 13.7 lakh equity shares on sale. Additionally, 17.41 lakh shares was offloaded by other shareholders.

MapmyIndia GMP today

According to market observers, GMP or grey market premium is an indication of the listing of the share in the unlisted market. The premium in the unofficial market of a share predicts its premium as it is going to list on Indian bourses- BSE and NSE. As of latest update, the MapmyIndia IPO was trading in the grey market at a premium of Rs 700, which is more than 65 per cent of its issue price of Rs 1000 to Rs 1033. The issue managed by JM Financial, Axis Capital, DAM Capital Advisors, and Kotak Mahindra Capital is showing great promise as per the unlisted market.

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.

Image: PTI/ PIXABAY