According to the draft red herring prospectus, the Indian map maker is raising Rs 1,039.6 crore by selling shares worth Rs 1,000-1,033, valuing Rs 5,500 crore. The IPO, a pure offer for sale, will see investors and promoters sell up to 10,063,945 shares. The promoters will hold 53.7% stake after the share sale.
MapMyIndia IPO Subscription — Day 1 Description
- Institutional Investors: 0.46x
- Non-institutional investors: 1.17 times
- Retail investors: 3.28 times
The company raised Rs 312 crore by issuing 30.19 lakh shares to anchor investors at Rs 1,033 per share. Half of the issue size is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
Investors can bid in a minimum of 14 equity shares and multiples thereof. Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers of the issue.
New Delhi based MapmyIndia, Qualcomm Inc. and backed by Japanese digital mapmaker Zenrin, provides Digital Maps, geospatial software and location-based IoT technology. Its customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safeexpress and Goods and Service Tax Network. Apple also uses MapmyIndia Maps like Paytm, PhonePe, McDonald’s Grofers and Cars24.
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