Fri. May 24th, 2024

On the last day of its issuance on Monday, the initial public offering (IPO) of CE Info Systems Limited, the parent company of digital mapping startup MapmyIndia, was subscribed 154.71 times.

The startup, better known by its brand name “MapmyIndia,” is supported by Qualcomm, a major wireless technology corporation, and Zenrin, a Japanese digital mapping provider.

The IPO received bids for more than 108.98 crore shares versus 70.44 lakh shares on offer, as per an update on the National stock exchange.

The reserved quota for non-institutional investors ( NIIs) was subscribed 424.69 times, while the qualified institutional buyers (QIBs) reservation received 196.36 times subscribers. Retail investors’ earmarked portion was subscribed 15.20 times.

The IPO consists of 1,00,63,945 equity shares with a price range of ₹ 1,000-1,033 per share.

The company powers Apple maps, among other things, and delivers powerful digital maps, geospatial software, and location-based IoT solutions.

The leading book running lead managers for the offer are– Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd, and DAM Capital Advisors Ltd.

By Harshita Sharma

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