Quallcomm to book 20X returns in MapmyIndia IPO
- ByStartupStory | December 7, 2021
Early investor of MapmyIndia, semiconductor company Quallcomm will be exiting its entire 5% in the digital mapping company as part of its IPO. The semiconductor major is expected to book a return of almost 20X over the weighted average cost of Rs 52 per share of its current holding.
The digital maps, geospatial software and location-based IoT technologies featuring the company will open its IPO on December 9 and close on December 13. The price band for the offer has been fixed at Rs 1,000 – Rs 1,033 per equity share.
The CEO of MapmyIndia, Rohan Verma said in a statement, “The main reason for wanting to go for an IPO is that the transparency of being a public company will help us garner more faith in what we do,”
MapmyIndia expects an offering of Rs 1,040 crore through an initial public offering that will sell 18.9 percent of the equity shares of the firm. This means that the 25-year-old tech company is valued at Rs 5,500 crore in the IPO.
Also Read
Follow Startup Story
Related Posts
