MapMyIndia initial public offer (IPO) is all set to open for public subscription from today, December 9, 2021. The three-day initial public offering will conclude on December 13. The price band for this issue has been fixed at Rs 1,000-1,033 per equity share of the face value of Rs 2 each.    

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The IPO of CE Info Systems, the parent company of MapmyIndia, is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders and promoters.  
The company has fixed half of the issue size for the qualified institutional buyers (QIBs), 15 per cent for the non-institutional investors and 35 per cent for the retail investors. Investors can bid for a minimum of 14 equity shares and in multiples thereof in this IPO. Axis Capital, JM Financial, Kotak Mahindra Capital, and DAM Capital Advisors are the lead managers to the issue.  

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Ahead of the opening of the issue, Zee Business Managing Editor Anil Singhvi on Thursday recommended investors to apply in CE Info Systems (MapmyIndia) IPO for big listing gain, keeping the long-term objective in this offer.  

He said the company is a market leader in the Maas, Saas, and Paas segments and has huge growth potential. "The most important thing is that it is a debt-free and cash-rich company," said Anil Singhvi.

Talking of negatives, he said it is a small size company with revenue of Rs 150 crore, which does not inspire confidence. "Valuation is on the higher side, but growth prospect is also high," he added.  

Backed by global wireless technologies company Qualcomm and Japanese digital mapping Zenrin, MapMyIndia is a New Delhi-based company and 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, Safexpress and Goods and Service Tax Network (GSTN).

MapMyIndia IPO Timeline
Application start date: December 9, 2021
Application end date: December 13, 2021
Allotment start date: December 16, 2021
Refund initiation date: December 17, 2021
Share allotment date: December 20, 2021
Listing date: December 21, 2021