Digital Mapping Firm MapMyIndia Secures INR 312 Crore from Anchor Investors
MapMyIndia, the digital mapping company that powers Apple Maps, has secured INR 312 crore from anchor investors ahead of its initial public offering (IPO) on Thursday.
The company issued 30.19 lakh equity shares to 24 anchor investors at a price of INR 1,033 apiece, for a total transaction value of INR 312 crore.
MapmyIndia allocated equity shares to Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, and HSBC in the anchor book.
In addition, the anchor book included significant domestic mutual funds ICICI Prudential MF, HDFC MF, SBI Mutual Fund (MF), Sundaram MF, Sun Life MF, Tata MF, and Aditya Birla , as well as life insurance companies HDFC Life Insurance Company and Tata AIA Life Insurance Company.
In the initial public offering (IPO), existing shareholders and promoters can sell up to 10,063,945 equity shares.
Qualified institutional buyers (QIBs) will receive half of the issue size, non-institutional investors will receive 15%, and retail investors will receive 35%.
Investors can place bids for as few as 14 equity shares and as many as they want.
The issue's primary managers are Kotak Mahindra Capital, JM Financial, Axis Capital, and DAM Capital Advisors.
Rashmi Verma may sell up to 42.51 lakh equity shares, Zenrin Co Ltd may sell up to 13.7 lakh equity shares and Qualcomm Asia Pacific Pte Ltd may sell up to 27.01 lakh equity shares, under the OFS. Several other stockholders will sell the remaining 17.41 lakh equity shares.
Rashmi Varma and Rakesh Kumar Verma, the business's promoters, currently own 28.65 percent and 35.88% of the company, respectively.
The issue will commence on December 9 and finish on December 13, with a price range of INR 1,000-1,033 per share.
The public issue is expected to raise INR 1,039.6 crore at the upper end of the pricing band.
C.E. Info Systems Ltd, also known as MapmyIndia, is backed by Zenrin, a Japanese digital mapping startup and Qualcomm, a multinational wireless technology company.
The company, situated in New Delhi, is a prominent provider of innovative digital maps, geospatial software, and location-based Internet of Things (IoT) technology.
The company issued 30.19 lakh equity shares to 24 anchor investors at a price of INR 1,033 apiece, for a total transaction value of INR 312 crore.
MapmyIndia allocated equity shares to Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, and HSBC in the anchor book.
In addition, the anchor book included significant domestic mutual funds ICICI Prudential MF, HDFC MF, SBI Mutual Fund (MF), Sundaram MF, Sun Life MF, Tata MF, and Aditya Birla , as well as life insurance companies HDFC Life Insurance Company and Tata AIA Life Insurance Company.
In the initial public offering (IPO), existing shareholders and promoters can sell up to 10,063,945 equity shares.
Qualified institutional buyers (QIBs) will receive half of the issue size, non-institutional investors will receive 15%, and retail investors will receive 35%.
Investors can place bids for as few as 14 equity shares and as many as they want.
The issue's primary managers are Kotak Mahindra Capital, JM Financial, Axis Capital, and DAM Capital Advisors.
Rashmi Verma may sell up to 42.51 lakh equity shares, Zenrin Co Ltd may sell up to 13.7 lakh equity shares and Qualcomm Asia Pacific Pte Ltd may sell up to 27.01 lakh equity shares, under the OFS. Several other stockholders will sell the remaining 17.41 lakh equity shares.
Rashmi Varma and Rakesh Kumar Verma, the business's promoters, currently own 28.65 percent and 35.88% of the company, respectively.
The issue will commence on December 9 and finish on December 13, with a price range of INR 1,000-1,033 per share.
The public issue is expected to raise INR 1,039.6 crore at the upper end of the pricing band.
C.E. Info Systems Ltd, also known as MapmyIndia, is backed by Zenrin, a Japanese digital mapping startup and Qualcomm, a multinational wireless technology company.
The company, situated in New Delhi, is a prominent provider of innovative digital maps, geospatial software, and location-based Internet of Things (IoT) technology.
