MapmyIndia IPO to open today: Key things to know

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MapmyIndia IPO to open today: Key things to know
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CE Info Systems’ initial public offer (IPO) to raise Rs 1,040 crore will open for subscription on Thursday. The IPO of CE Info Systems, which owns the MapmyIndia portal, is entirely an offer for sale (OFS) of more than one crore shares by promoters and existing shareholders. MapmyIndia is a provider of digital maps, geospatial software and location-based IoT technologies. The MapmyIndia IPO will close for subscription on December 13.

ALSO READ: IPO investing – How to read key numbers, spot red flags in a draft prospectus

Here are key things to know about the CE Info Systems (MapmyIndia) IPO:

Important dates: The CE Info Systems (MapmyIndia) IPO will open for subscription on December 9 and close on December 13. MapmyIndia shares are likely to be listed on stock exchanges BSE and NSE on December 21.

Issue price: CE Info Systems shares will be available for bidding in a price band of Rs 1,000-1,033 under the IPO.

Issue size: The IPO is an OFS of more than one crore shares, estimated at Rs 1,039.6 crore at the upper end of the price band.

Lot size: Potential investors will be allowed to bid for shares in multiples of 14. At the upper end of the price band, one lot is worth Rs 14,462.

Fund utilisation: CE Info Systems aims to achieve the benefits of listing its equity shares on bourses.

Investor categories: Out of the total IPO, 50 percent is reserved for qualified institutional buyers (QIBs), 35 percent for retail investors and 15 percent for non-institutional investors.

Company Profile: Incorporated in February 1995, CE Info Systems is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). MapmyIndia provides products, platforms, application programming interfaces (APIs) and solutions across a range of digital map data, software and IoT.

Financials: CE Info Systems’ net profit stood at Rs 59.4 crore in the year ended March 2021, as against Rs 23.2 crore in the corresponding period a year ago. Its revenue from operations grew 2.6 percent on a year-on-year basis to Rs 152.5 crore in FY21.

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