New Delhi: digital mapping company mapmyindia, which powers Apple Maps, has set a price band of Rs 1,000-1,033 per share for its initial share-sale of Rs 1,040 crore, which will open on December 9.
The three-day initial public offering (IPO) will conclude on December 13. Bids for anchor investors will open on December 8, the company announced.
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. Qualcomm Asia Pacific Pte Ltd. and up to 13.7 lakh equity shares by Xenrin Company Ltd. In addition, the remaining 17.41 lakh equity shares will be sold by several other sold-out shareholders.
At present, promoters Rakesh Kumar Verma and Rashmi Verma hold 28.65 per cent and 35.88 per cent in the company.
At the upper end of the price band, the public issue is expected to fetch Rs 1,039.6 crore.
MapMyIndia, also known as CE Info Systems, is backed by global wireless technology company Qualcomm and Japanese digital mapping company Zenrin.
The New Delhi-based company is a leading provider of advanced digital maps, geospatial software and location-based IoT technologies.
It provides products, platforms, application programming interfaces (APIs) and solutions across a range of digital map data, software and IoT under the MapmyIndia and Mappls brands. The company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safeexpress and Goods and Service Tax Network (GSTN).
Apple products MapmyIndia use Maps as a payment gateway such as PayTm, PhonePe, or e-commerce food delivery platforms such as McDonald’s, Grofers, Cars24. SBI Branch Locator, Store Locator by companies like Bajaj Finserv, Prasar Bharti DTH dealer locators use the same.
Half of the issue size is reserved for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors and 35 percent for retail investors.
Investors can bid in a minimum of 14 equity shares and multiples thereof.
Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers of the issue.
The three-day initial public offering (IPO) will conclude on December 13. Bids for anchor investors will open on December 8, the company announced.
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. Qualcomm Asia Pacific Pte Ltd. and up to 13.7 lakh equity shares by Xenrin Company Ltd. In addition, the remaining 17.41 lakh equity shares will be sold by several other sold-out shareholders.
At present, promoters Rakesh Kumar Verma and Rashmi Verma hold 28.65 per cent and 35.88 per cent in the company.
At the upper end of the price band, the public issue is expected to fetch Rs 1,039.6 crore.
MapMyIndia, also known as CE Info Systems, is backed by global wireless technology company Qualcomm and Japanese digital mapping company Zenrin.
The New Delhi-based company is a leading provider of advanced digital maps, geospatial software and location-based IoT technologies.
It provides products, platforms, application programming interfaces (APIs) and solutions across a range of digital map data, software and IoT under the MapmyIndia and Mappls brands. The company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safeexpress and Goods and Service Tax Network (GSTN).
Apple products MapmyIndia use Maps as a payment gateway such as PayTm, PhonePe, or e-commerce food delivery platforms such as McDonald’s, Grofers, Cars24. SBI Branch Locator, Store Locator by companies like Bajaj Finserv, Prasar Bharti DTH dealer locators use the same.
Half of the issue size is reserved for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors and 35 percent for retail investors.
Investors can bid in a minimum of 14 equity shares and multiples thereof.
Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers of the issue.
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