The initial public offering (IPO) of MapmyIndia will hit the market on December 9, Thursday. The value band of the advanced planning organization for the underlying stake deal has been fixed at Rs 1,000-1,033 for every value share bearing assumed worth of Rs 2 each. The issue will be open for membership till December 13, 2024. The organization is looking to raise Rs 1,039.6 crore through the essential course.
About MapmyIndia:
Established in 1992, MapmyIndia, possessed by CE Info Systems, is the main supplier of cutting-edge advanced guides, geospatial programming, and area-based IoT advances in India.
Items, stages, application programming interfaces (APIs), and arrangements across a scope of computerized map information, programming, and IoT have accommodated Indian just as a worldwide market.
Initial public offering details:
The IPO is completely a proposal available to be purchased (OFS) of up to 10,063,945 value shares by existing investors and advertisers. Selling investors incorporate Rashmi Verma, investor Qualcomm Asia Pacific Pte Ltd, and Zenrin Co Ltd. Subsequently, the organization won’t get any assets from the IPO as all the cash will go to selling investors.
Least bid for the IPO:
Investors can offer for at least 14 value shares and in products of 14 thereof. Retail financial backers will want to offer for at least 14 offers or one part at Rs 14,462 and a limit of 13 parcels or Rs 1,88,006 at the upper-value band, since they can’t matter for more than Rs 2,00,000 in an IPO.
Different insights regarding the issue:
Axis Capital, JM Financial, Kotak Mahindra Capital Company, and DAM Capital Advisors have been delegated to deal with the issue. Besides, Link Intime India has been delegated as the enlistment center for the issue.
The Equity Shares in this Offer are proposed to be recorded on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). With the end goal of the deal, BSE will be the Designated Stock Exchange.
