MapmyIndia, one of the main companies of virtual maps and geospatial software program and vicinity primarily based totally on IoT technologies, proprietor CE Info Systems opened its preliminary public offering (IPO) on Thursday. MapmyIndia noticed an amazing reaction from the traders on the primary day. MapmyIndia IPO acquired bids for 1,42,31,406 stocks in opposition to the difficulty length of 37,17,938 stocks. The element set apart for retail traders became booked 1.eight times.

If you’re making plans to spend money on MapmyIndia IPO, right here are the important thing information to know

MapmyIndia IPO Price, Dates

MapmyIndia IPO may be open for subscription from December 9-thirteen. The organization has constant fee band at Rs 1,000–1,033 in keeping with fairness proportion of face cost of Rs 2 each.

MapmyIndia IPO Offer Details:

CE Info Systems ambitions to elevate Rs 1,039.6 crore from its maiden offer. MapmyIndia IPO is composed absolutely Offer for Sale (OFS) from promoters and different traders. The organization will now no longer acquire any finances from IPO as all of the cash will visit promoting shareholders.

Rashmi Verma, person promoting shareholder will promote 42,51,044 fairness stocks, whilst Qualcomm Asia Pacific Pte Ltd will offload 27,01,407 fairness stocks, and Zenrin Co Ltd will promote thirteen,69,961 fairness stocks. The ultimate 17,41,533 fairness stocks may be offered via way of means of numerous different shareholders. Investors PhonePe India, Zenrin, and Qualcomm held 19.15 in keeping with cent, eight.seventy eight in keeping with cent, and five.07 in keeping with cent shareholding, respectively, withinside the organization.

The promoter shareholding will come right all the way down to 53.seventy three percentage after the difficulty from 61.seventy one percentage now.

MapmyIndia IPO Objective:

The organization aimed to dump 10,063,945 fairness stocks and gain the blessings of list the fairness stocks at the inventory exchanges.

MapmyIndia IPO Bidding Details for Investors:

Investors can bid for not less than 14 fairness stocks and in multiples of 14 fairness stocks thereafter. Retail traders can make investments not less than Rs 14,462 for one lot, and their most funding could be Rs 1,88,006 for thirteen lots.

MapmyIndia IPO Valuation:

The IPO is worth 36.1x FY21 fee-to-income and 28x FY22 annualized fee-to-income, which is essentially in line with ~27x to PayTM and 32x to Zomato (at CMP). While consumer-primarily based totally apps like Google Maps are free, API and business enterprise-primarily based totally answers are paid services. The organization has an part because of its maps being greater correct in comparison to peers.

MapmyIndia IPO GMP

The unlisted stocks of MapmyIndia noticed excessive top rate withinside the gray marketplace on Thursday December 9. The gray marketplace top rate of MapmyIndia rose to 800 on December 9, in step with IPO Watch. High gray marketplace top rate suggests sturdy list of the IPO withinside the marketplace.

MapmyIndia IPO: Key Strength

C.E. Info Systems, the proprietor of MapmyIndia is India’s main company of superior virtual maps, geospatial software program. It is a pacesetter withinside the B2B and B2B2C marketplace, serving over 500 business enterprise clients throughout 3 fundamental categories — corporate, automobile and government. Some of the marquee names encompass PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, Avis, Safexpress, GST Network, etc.

“Given its early mover gain and non-stop innovation, MapmyIndia has been capable of construct a proprietary cease-to-cease era pushed and AI-assisted mapping systems, this is tough to replicate. This together with huge community effect (covers 98.five in keeping with cent of India’s avenue community) has created sturdy access boundaries for the organization,” stated Motilal Oswal in a note.

MapmyIndia IPO: Should you Subscribe?

We like MapmyIndia given its management in virtual mapping, sturdy access boundaries, strong worthwhile statistics and tech platform together with steady financials. The difficulty is worth 27x 1HFY22 annualized EV/Sales, which even though costly is much like different Indian unicorns. We trust MapmyIndia is rightly located to faucet the excessive boom virtual mapping marketplace. Investors with excessive threat urge for food can subscribe for list profits given fancy for precise and primary of its type list.

“With Covid-19 state of affairs normalising and , searching at exact order book, we expect, conversion of those orders will take place going ahead. With this in H1FY22, organization recorded a boom of 81.three in keeping with cent 12 months-on-12 months and revenue.