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MapMyIndia IPO: The company providing data services to Apple Maps-ISRO will open IPO on Thursday, the price band of Rs 1000-1033 per share has been fixed.

MapMyIndia IPO to open on Dec 9 price band set at Rs 1000-1033 per share check here in detailsMapmyindia’s IPO is purely an offer for sale.

MapMyIndia IPO: The price band of the digital mapping company MapmyIndia’s IPO has been fixed today (December 6). The price band of Rs 1000-1033 per share has been fixed for this IPO of Rs 1040 crore. This IPO will open for subscription on Thursday 9th December and investors will be able to invest in it till 13th December. The issue will open for anchor investors on December 8. No new shares will be issued under the issue and it is purely an offer for sale. MapMyIndia is a digital mapping company whose data is used in Apple Maps in India. Its data is also used by ISRO, Ministry of Finance and Facebook.

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MapMyIndia IPO Details

  • Mapmyindia’s Rs 1039.61 crore IPO will be open for subscription from December 9 to December 13.
  • The issue is purely an offer for sale and the existing shareholders and promoters of the company will sell 1,00,63,945 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.
  • The price band for the issue has been fixed at Rs 1000-1033 per share.
  • The lot size is of 14 shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 14462.
  • The face value per share is Rs 2.
  • 50 per cent of the issue is reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors/high net worth investors and 35 per cent for retail investors.
  • The registrar of the issue is Link Intime India.

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Details about the company

  • MapMyIndia provides IoT (Internet of Things) technology based on digital maps, geospatial software and location.
  • MapmyIndia, also known as CE Info Systems, also has stakes in Qualcomm, a global wireless technology company, and Zenrin, a Japanese digital mapping company.
  • The customers of this company include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, SafeExpress and Goods and Service Tax Network.
  • MapmyIndia’s data is also used in Apple products. Through its data, Apple users pay for the services of Paytm, PhonePe, e-commerce food delivery platform etc.
  • It is also used as a store locator like SBI branch locator or Prasar Bharati DTH dealer locator.
  • In its digital map, 62.9 km long roads of the country can be seen, which covers 98.50 percent of the country’s road network. Through this, information about ATMs, shopping malls, ATMs, restaurants, police stations, EV charging stations, etc. can be obtained.
  • Talking about the financial position of the company, its net profit has increased. In the financial year 2019, it had a net profit (Profit After Tax) of Rs 33.57 crore. In the next financial year 2020, its profit decreased slightly and it made a profit of only Rs 23.19 crore, but in the next financial year 2021, its net profit increased to Rs 59.43 crore.

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