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MapmyIndia IPO Subscribed 154.71 Times On Last Day Of Issue

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MapmyIndia IPO Subscribed 154.71 Times On Last Day Of Issue

MapmyIndia IPO received an overwhelming response on the last day of its issue

The initial public offer (IPO) of CE Info Systems Limited, the parent entity of digital mapping company MapmyIndia, was subscribed 154.71 times on the last day of its issue on Monday.

More popular through its brand name “MapmyIndia”, the company is backed by global wireless technologies company Qualcomm and Japanese digital mapping firm Zenrin.

The IPO received bids for over 108.98 crore shares against over 70.44 lakh shares on offer, as per an update on the National stock exchange.

The non-institutional investors category was subscribed 424.69 times, while qualified institutional buyers (QIBs) portion received 196.36 times subscription. Retail investors portion was subscribed 15.20 times.

The IPO of up to 1,00,63,945 equity shares had a price range of Rs 1,000-1,033 per share.

The company provides advanced digital maps, geospatial software and location-based IoT technologies and among others, it powers Apple maps.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd and DAM Capital Advisors Ltd were the managers to the offer.

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