MapMyIndia IPO: The IPO of digital mapping company MapmyIndia has opened today i.e. on 9 December. Investors can invest in it till December 13. The company wants to raise Rs 1,039.6 crore through this IPO. No new shares will be issued under the issue, that is, it is purely an offer for sale. The price band for this issue has been fixed at Rs 1,000-1,033. Its shares are likely to be listed on BSE and NSE on December 21.
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gray market premium
Before the IPO subscription opening, MapmyIndia shares were trading at a premium of Rs 880 per share in the gray market. The listing of the company’s shares is expected on December 21, 2021. The issue is purely on offer for sale and the existing shareholders and promoters of the company will sell 1.06 crore equity shares. Under OFS, Rashmi Verma will sell 42.51 lakh shares, Qualcomm Asia Pacific 27.01 lakh, Genrin will sell 13.7 lakh shares. At present, Rashmi Verma has 35.88 percent stake in the company. As per the circular, the company has decided to allot 30.19 lakh equity shares to anchor investors at a price of Rs 1,033 per equity share.
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This is the opinion of experts regarding the issue
- Arihant Capital in its report has suggested to subscribe for the long term. The brokerage firm says, “At the upper price band of Rs 1,033, the issue price is at a P/E multiple of 94x, based on FY21 EPS of Rs 11. CEIS is the market leader in the digital maps and geospatial software industry.
- The firm says that its relationships with high-value clients will not only drive sales but also encourage cross-selling and up-selling.
- The company has strong fundamentals, and its profits are expected to increase further. The brokerage firm suggests that investors can subscribe to this issue for a longer period.
- Brokerage house Marwari Shares and Finance Limited has also suggested to ‘subscribe’ to this IPO. The brokerage firm says, “There is no such listed company in India whose business can be compared with this. We give rating of ‘Subscribe’ to this IPO.
- MapMyIndia provides IoT (Internet of Things) technology based on digital maps, geospatial software and location. The customers of this company include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, SafeExpress and Goods and Service Tax Network.
- Investments Limited said in its report, “We believe MapmyIndia is well positioned to take advantage of the domestic opportunities. At the upper price band of Rs 1,033, the stock is priced at 58.8x its FY22E EPS of Rs 17.57 (based on latest annual earnings). Hence, we recommend subscribing to this issue only for listing gains.”
- Ashika Research has also advised to subscribe this issue for long term.
(By Harshita Tyagi)
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