IPO Wrap: MapmyIndia IPO subscribed over 154 instances on last day led by non institutional buyers and QIBs

MapmyIndia IPO subscription standing: The preliminary public providing (IPO) of digital mapping firm C.E. Info Systems (MapmyIndia), which was launched on Thursday was met with a sturdy response by the buyers because it bought subscribed 154.71 instances on the ultimate day, based on the info accessible on the BSE.
The Rs 1,040 crore provide acquired bids for over 108.98 crore (1,08,98,95,450) shares in opposition to the overall problem dimension of over 70.44 lakh (70,44,762) shares, the info confirmed.
The shares that are to be allotted for the certified institutional consumers (QIBs) was subscribed 196.36 instances, whereas these of non institutional buyers was subscribed a whopping 424.69 instances and that of retail particular person buyers (RIIs) was subscribed 15.20 instances, the info confirmed.
MapmyIndia IPO is completely a suggestion on the market (OFS) of as much as 10,063,945 fairness shares by present shareholders and promoters. The firm is not going to obtain something from the provide.
The provide had opened for subscription on Thursday, December 9, 2021, and concluded at 5 pm Monday, December 13, 2021. It had a value band of Rs 1,000-1,033 per share and earlier than heading into the IPO, the corporate raised practically Rs 312 crore from the anchor buyers.
C.E. Info Systems is popularly identified by its model MapmyIndia. It is a New Delhi-based agency and a number one supplier of digital maps, geospatial software program and location-based IoT applied sciences. It is backed by international wi-fi applied sciences firm Qualcomm and Japanese digital mapping Zenrin.
The purchasers of the corporate embrace the likes of PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network (GSTN).
Going forward, buyers will now look ahead to the share allotment date of the difficulty. The finalisation of the premise of allotment for MapmyIndia is anticipated to happen on Thursday, December 16, 2021, as per the knowledge supplied within the purple herring prospectus.