HomeBusinessMapmyIndia Shares Make Strong Debut At Exchanges, List At 53.04% Premium

MapmyIndia Shares Make Strong Debut At Exchanges, List At 53.04% Premium

MapmyIndia Shares Make Strong Debut At Exchanges, List At 53.04% Premium

MapmyIndia inventory obtained listed at Rs 1,581 on the BSE index.

New Delhi: Shares of CE Info Systems Ltd, the mother or father of digital mapping firm MapmyIndia, made a powerful debut on the exchanges on Tuesday. The inventory obtained listed at Rs 1,581 on the BSE index, a premium of 53.04 per cent in opposition to the difficulty worth of Rs 1,033. On NSE, the scrip began buying and selling at Rs 1,565.

The preliminary public providing (IPO) garnered a powerful investor response and was subscribed a whopping 154.71 occasions on the final day of subscription on December 13.

The IPO acquired bids for over 108.98 crore shares in opposition to over 70.44 lakh shares on provide, as per an replace on the NSE.

The non-institutional buyers’ class was subscribed 424.69 occasions, whereas Qualified Institutional Buyers (QIBs) portion acquired 196.36 occasions subscription and Retail Individual Investors (RIIs) 15.20 occasions.

The firm had mopped up Rs 312 crore from anchor buyers.

Popularly identified by its model MapmyIndia, the corporate is backed by international wi-fi applied sciences firm Qualcomm and Japanese digital mapping agency Zenrin.

It offers superior digital maps, geospatial software program and location-based IoT applied sciences and amongst others, it powers Apple maps. 

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd and DAM Capital Advisors Ltd had been the managers to the provide.

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