MapmyIndia shares make stellar debut; list at 53% premium to Rs 1581 per share

Shares of MapmyIndia made a stellar debut on the exchanges on Tuesday, December 21, 2021. The shares of digital mapping company were listed at Rs 1581 per share on the BSE on Tuesday. This was a gain of Rs 548 or 53.05 % against its issue price of Rs 1,033. The investors made a profit of Rs 548 per share on the listing day.  

The listing price missed Zee Business Managing Editor's Anil Singhvi prediction by a narrow margin. Singhvi had mentioned that MapmyIndia shares would be listed on the exchanges in the range of Rs 1650-1750 against the issue price of Rs 1,033 per share. He suggested investors to hold the shares with a stoploss of Rs 1575.

See Zee Business Live TV Streaming Below:

Earlier, the three-day initial public offer had opened on December 9, 2021. The initial public offer (IPO) of CE Info Systems Ltd-backed firm was subscribed 6.16 times on the second day of the bidding on December 10, 2021. 

The issue was subscribed a whooping 154.7 times on the final day. Against 70,44,762 allotted shares, the IPO of digital mapping services received bids for 4,33,94,624 shares at the closing of Day 2. The issue was subscribed 1.08 times on the first day on December 9, 2021.  

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

The initial public offer (IPO) of CE Info Systems, the parent company of MapmyIndia, was entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders and promoters. The OFS comprised sale of up to 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 lakh equity shares by Zenrin Co Ltd.

In addition, the remaining 17.41 lakh equity shares had to be offloaded by several other selling shareholders.

Earlier, the company has fixed half of the issue size for the qualified institutional buyers (QIBs), 15 per cent for the non-institutional investors (NIIs) 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 were the lead managers to the issue.

The shares of the company at the day's end closed at Rs.1394.55 per share on BSE and at Rs 1375 per share on NSE. The initial public offering was offered at a lower price band of Rs 1000 per share and higher price band of Rs 1033 per equity share.

As per BSE, the total quantity traded stood at 11.41 lakh shares with a delivery quantity percentage of 40.62%. Total Quantity traded at NSE stood at 126.97 lakh shares with a delivery quantity percentage of 33.02%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 2052.8 crore.