Home Business MapmyIndia’s Rs 1,040-Crore IPO Kicks Off | What Are The Salient Features

MapmyIndia’s Rs 1,040-Crore IPO Kicks Off | What Are The Salient Features

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<p><robust>New Delhi:</robust> The preliminary public provide (IPO) of CE Data Programs, which operates MapmyIndia, obtained bids for 18.62 fairness shares in opposition to IPO measurement of 70.44 lakh fairness shares, kicked off subscription on Thursday, the primary day of bidding.</p>
<p>It’s the 59th IPO that opened for subscription in 2021.</p>
<p>Retail buyers have purchased 53 per cent shares of their reserved portion, and non-institutional buyers have put in bids for 1 per cent of shares put aside for them. Certified institutional patrons haven’t began placing in bids for his or her allotted quota.</p>
<p>MapmyIndia shares are prone to be listed on the bourses &mdash; BSE and NSE &mdash; on December 21.</p>
<p>CE Data Programs is planning to mop up Rs 1,039.60 crore by issuing greater than 1 crore fairness shares via the IPO on the higher value band of Rs 1,033 per fairness share.</p>
<p>Anchor buyers have already invested Rs 311.88 crore within the firm by way of the anchor ebook on December 8. The difficulty is fully an offer-for-sale, therefore all the cash will go to promoting shareholders.</p>
<p>Majority of the brokerage homes have prompt buyers to subscribe to the problem, because of its excessive progress potential, conservative valuations, sturdy shopper base, and entry barrier to the enterprise.</p>
<p>CE Data Programs is a knowledge and know-how merchandise and Platforms Firm, providing proprietary digital maps-as-a-service, software-as-a-service and a platform-as-a-service.</p>
<p>Potential buyers are allowed to bid for shares in multiples of 14. On the higher finish of the value band, one lot is value Rs 14,462.</p>
<p>Of the entire IPO, 50 per cent is reserved for certified institutional patrons (QIBs), 35 per cent for retail buyers, and 15 per cent for non-institutional buyers.</p>
<p>Established in February 1995, CE Data Programs is a knowledge and know-how merchandise and platforms firm, providing proprietary digital maps as a service (MaaS), software program as a service (SaaS) and platform as a service (PaaS). MapmyIndia offers merchandise, platforms, software programming interfaces (APIs), and options throughout a variety of digital map knowledge, software program and IoT.</p>
<p>CE Data Programs&rsquo; internet revenue stood at Rs 59.4 crore within the yr ended March 2021, as in opposition to Rs 23.2 crore within the corresponding interval a yr in the past. Its income from operations grew 2.6 per cent on a year-on-year foundation to Rs 152.5 crore in FY21.</p>

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