MapMyIndia IPO: Shares to make a strong debut on Tuesday, say market analysts - What investors should know

C.E Info Systems Limited-backed MapmyIndia is all set to market debut on Tuesday, December 21, 2021. The majority of analysts, including Zee Business Managing Editor Anil Singhvi, expect the company to make bumper listing around 70-75 per cent returns, as estimated. 

The initial public offer of MapMyIndia was launched between December 9-13, 2021, and the issue was subscribed by 154 times, led by strong demand from non-institutional investors. The NII quota was filled almost 425 times, followed by qualified institutional buyers over 196 times on the final day. 

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The market expert Aayush Agrawal, who is a senior analyst at Swastika Investmart Ltd in his listing estimates said that it was expected MapMyIndia’s stock market debut would give over 100 per cent return on a listing day, however, the expectations have tapered down amid sharp correction in the market where the grey market premium is indicating a listing gain of around 70-75 per cent. 

In his IPO preview, even Anil Singhvi had predicted the company’s would give listing gains amid the robust fundamentals and stronger promoters.  

Backed by Qualcomm and Japan’s Zenrin, the former will exit its entire 5 per cent stake, while the latter will sell around a 3 per cent stake of the holdings. Manoj Dalmia, Founder and Director-Proficient Equities also expects MapMyIndia to make bumper listing considering its GMP and client base.   

The company MapMyIndia had fixed the price band of Rs 1,000-1,033 per equity share of the face value of Rs 2 each for its initial public offer (IPO).   

Agrawal said, “MapMyIndia is one of a kind company in SaaS, PaaS, and MaaS businesses which has tremendous potential to perform well in the future because it has a moat in B2B business despite the presence of big-name google map and some recent developments like the change in regulations and new tie-ups with government organizations may boost the sentiments further.”