On the first day of bidding, CE Info Systems, a data and technology products and platforms company, received offers for 18.62 equity shares out of a total of 70.44 lakh equity shares, for a subscribed rate of 26 percent. It is the 59th initial public offering, with subscriptions beginning in 2021.
Retail investors have purchased 53% of their reserved shares, while non-institutional investors have bid for 1% of the shares set aside for them. Qualified institutional buyers have yet to submit bids for their quota allocation.
CE Info Systems, better known as MapmyIndia, plans to raise Rs 1,039.60 crore through an initial public offering (IPO) of more than 1 crore equity shares at the top price band of Rs 1,033 per equity share. On December 8, anchor investors invested Rs 311.88 crore in the company through the anchor book. Because the offering is totally for sale, all proceeds will go to the selling shareholders. The sale, which will close on December 13, has a price range of Rs 1,000-1,033 per equity share.
Experts advised long-term investors to subscribe to the issue, citing the company’s leadership position in India, client base and network effect benefits, solid margins and return profile, and good cash conversion. “MapmyIndia has some benefits as a pioneer since its digital maps and other products are specialised for the tough Indian geography and have wide coverage. While the maps and platform are regularly updated with validated input, there is potential for further up-selling or cross-selling, which can generate a network effect, according to the experts.
Despite the pandemic’s impact on key customer markets (automobile and mobility tech) in FY21, the firm managed to report revenue growth of roughly 3%, and the margin profile is excellent, which would be bolstered by scale, according to the brokerage. CE Info Systems provides proprietary digital maps-as-a-service, software-as-a-service, and a platform-as-a-service.
What are C.E. Info Systems Limited’s advantages?
What are the dates for the MapmyIndia IPO?
The initial public offering (IPO) will take place on Thursday, December 9, 2021, and will end on Monday, December 13, 2021.
What is the minimum subscription amount for this IPO?
Investors must apply for 14 shares in the lower price range at a minimum of Rs 1,000 per share. In this situation, the minimum amount would be 14 x 1,000 = Rs 14,000 Similarly, the lower price band’s minimum amount would be Rs 14 x 1,033 = Rs 14,462.
Is there a discount for employees in the MapmyIndia IPO?
No, there isn’t a discount for employees in this IPO.
Enjoy Zero Brokerage on Equity Delivery
Join our 1.75 Cr+ happy customers
Enjoy Zero Brokerage on