The Initial Public Offer (IPO) of MapmyIndia – a leading provider of advanced digital maps, geospatial software and location-based IoT technologies, will open tomorrow – December 9. Owned by CE Info Systems, the company has produced maps for more than six million. km, under the MapMyIndia brand, covering 98.5 percent of the country’s road network. Here’s what you need to know about MapmyIndia IPO:
This offer will open for subscription on December 9, 2021 and will close on December 13.
MapmyIndia has fixed a price band of Rs 1,000- 1,033 per equity share for the IPO.
IPO Offer Details:
An IPO is an offer for sale of 10,063,945 equity shares by the entire existing shareholders and promoter.
The OFS includes sale of 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and 13.7 lakh equity shares by Zenrin Company Ltd.
Investors can bid for a minimum of 14 equity shares and thereafter in multiples of 14 equity shares. Retail investors can invest a minimum of Rs 14,462 for one lot and their maximum investment for 13 lots will be Rs 1,88,006.
Through the public issue, the company aims to meet the offer for sale of 10,063,945 equity shares and avail the benefits of listing the equity shares on the stock exchanges.
The company provides products, platforms, application programming interfaces (APIs), and solutions in a range of digital map data, software and IoT for the Indian market under the MapMyIndia brand and for the international market under the Maple brand.