MapMyIndia IPO sees strong response; issue booked over 154 times on final day, led by strong NII demad
Digital mapping services MapMyIndia initial public offer (IPO) was subscribed to whooping 154.7 times at 5 pm on Monday.
Digital mapping services MapMyIndia initial public offer (IPO) was subscribed to whooping 154.7 times at 5 pm on the final day of offer on Monday. The issue received bids for 1,08,98,95,450 shares against 70,44,762 reserved shares. Non-Institutional Investors and Qualified Institutional Buyers (QIBs) led the subscription on the last day. NIIs made bidding for 424.96 times and QIBs subscribed to the issue 196.36 times.
Retail Individual Investors (RIIs) booked the issue 15.20 times.
See Zee Business Live TV Streaming Below:
The three-day initial public offer had opened on December 9, 2021. The initial public offer (IPO) of C.E. Info Systems Ltd-backed firm was subscribed 6.16 times on the second day of the bidding on December 10, 2021. 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.
Earlier, the digital mapping company had fixed the price band of Rs 1,000-1,033 per equity share of the face value of Rs 2 each for its upcoming initial public offer (IPO).
The initial public offer (IPO) of CE Info Systems, the parent company of MapmyIndia, is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders and promoters. The OFS comprises 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 will be offloaded by several other selling shareholders.
Earlier, the company has fixed half of the issue size for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors 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 are the lead managers to the issue.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.