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mapmyindia: MapMyIndia IPO will open on December 9th.Price range is set at 1,000-1,033 rupees / share

New Delhi: MapMyIndia, the digital map company that powers Apple Maps, has fixed the price range of 1,000 to 1,033 rupees per share for the initial stock sale of 1,040 rupees, which will open on December 9.
The three-day initial public offering (IPO) will end on December 13. The company has announced that bidding for anchor investors will begin on December 8.
The IPO is entirely an offer to sell up to 10,063,945 shares by existing shareholders and promoters.
OFS consists of the sale of up to 42.51 Rakı shares by Rashmi Verma, up to 27.01 Rakı shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 Rakı shares by Zenrin Co Ltd. In addition, the remaining 17.41 Rakı shares were offloaded by several other selling shareholders.
Currently, promoters Rakesh Kumar Verma and Rashmi Varma hold a 28.65% and 35.88% stake in the company.
The public issue is expected to get Rs 1,039.6 at the upper end of the price range.
MapMyIndia, also known as CE Info Systems, is backed by global wireless technology company Qualcomm and Japanese digital mapping Zenrin.
Based in New Delhi, the company is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies.
Under the MapmyIndia and Mappls brands, we offer solutions across products, platforms, application programming interfaces (APIs), and a variety of digital map data, software, and IoT. The company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safari and Goods and Service Tax Network (GSTN).
Apple products use MapmyIndia maps, as well as payment gateways such as PayTm and PhonePe, or e-commerce food delivery platforms such as McDonalds, Grofers and Cars24. Store locators from companies such as SBI Branch Locator, Bajaj Finserv, and Prasar Bharti DTH Dealer Locators use the same.
Half of the issue size is reserved for qualified institutional investors (QIB), 15% for non-institutional investors and 35% for individual investors.
Investors can bid at least 14 shares and multiples thereof.
Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers for this issue.



mapmyindia: MapMyIndia IPO will open on December 9th.Price range is set at 1,000-1,033 rupees / share

Source link mapmyindia: MapMyIndia IPO will open on December 9th.Price range is set at 1,000-1,033 rupees / share

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