MapmyIndia raises 312 crores just ahead of its IPO.
- ByStartupStory | December 9, 2021
MapmyIndia has gathered Rs 312 crore from anchor investors just ahead of its initial share sale that opens for public subscription today. The company allotted 30.19 lakh equity shares to 24 anchor investors at Rs 1,033 apiece, taking the transaction size to Rs 312 crore, according to a circular uploaded on the BSE website.
MapmyIndia also known as CE Info Systems, is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). It had serviced over 2,000 enterprise customers, including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai etc.
Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen and HSBC were allocated equity shares along with, leading domestic mutual funds SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Tata MF and Sundaram MF, as well as life insurance companies such as HDFC Life Insurance Company and Tata AIA Life Insurance Company also participated in the anchor book.
The IPO provides offers for sale (OFS) of up to 10,063,945 equity shares by existing shareholders and promoters. The price band for the offer, which will close on December 13, has been fixed at Rs 1,000-1,033 per equity share. The public offer will fetch the company Rs 1,039.60 crore at upper price band.
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