MapmyIndia Shares Make Strong Debut At Exchanges, List At 53.04% Premium

MapmyIndia stock got listed at Rs 1,581 on the BSE index.

New Delhi: Shares of CE Info Systems Ltd, the parent of digital mapping company MapmyIndia, made a strong debut at the exchanges on Tuesday. The stock got listed at Rs 1,581 on the BSE index, a premium of 53.04 per cent against the issue price of Rs 1,033. On NSE, the scrip started trading at Rs 1,565.

The initial public offering (IPO) garnered a strong investor response and was subscribed a whopping 154.71 times on the last day of subscription on December 13.

The IPO received bids for over 108.98 crore shares against over 70.44 lakh shares on offer, as per an update on the NSE.

The non-institutional investors’ category was subscribed 424.69 times, while Qualified Institutional Buyers (QIBs) portion received 196.36 times subscription and Retail Individual Investors (RIIs) 15.20 times.

The company had mopped up Rs 312 crore from anchor investors.

Popularly known through its brand MapmyIndia, the company is backed by global wireless technologies company Qualcomm and Japanese digital mapping firm Zenrin.

It provides advanced digital maps, geospatial software and location-based IoT technologies and among others, it powers Apple maps. 

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd and DAM Capital Advisors Ltd were the managers to the offer.

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