MapMyIndia IPO Review: CE Info Systems Ltd initial public offer (IPO) will open for subscription on December 9th, 2021, and close on December 13th, 2021. The New Delhi based company is looking to raise Rs. 1,039.61 crores through the IPO. In this article, we take a closer look at the C E Info Systems Ltd IPO Review and its possible future prospects. Keep Reading to find out!
Table of Contents
About the Company
CE Info Systems Ltd. was founded in 1992 by Rakesh Verma and Rashmi Verma. Although the company is known for its MapmyIndia brand it was initially founded as an IT service provider. It was only in 1994 that the company ventured into Geographical Information Systems (GIS). This made the company the first mover into the sector in the Indian region.
Today the company offers proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”). But the company has come a long way since its inception. The company owns the IP rights to the largest and most accurate map data in the country. The company is India’s leading provider of advanced digital maps, geospatial software and location based IoT technologies.
The map products offered by the company cover over 6 million kilometres of roads in India. This covers 98.5% of the road network in India. Their maps cover 7,993 towns and 6,37,472 villages. In addition to this the company is considered to provide the most comprehensive digital maps.
This is evident from over 17.79 Mn places covered on their map across various categories like restaurants, retail shops, malls, ATMs, hotels, police stations, electric vehicle charging stations, etc. Their maps also cover 14.51 million building addresses.
CE Infosystems maps are also considered to be one of the most feature rich. Their ‘RealView’ maps provide actual roadside and on-ground. Views. These are based on over 400 Million geo-referenced photos, videos, and 360° panoramas across India.
The company has provided its services to over 2000 customers so far. As of 2021 the company has over 500 customers across all of its platforms. Its customers coem from across various sectors like BFSI, telecom, FMCG, industrials, logistics, and transportation to name a few. The company also provides its services to key government organisations like
- Indian Space Research Organisation (ISRO)
- NITI Aayog
- National eGovernance Division
- Ministry of Electronics and Information Technology
- Government of India
Its other renown private sector clients include:
- PhonePe
- Flipkart
- Yulu
- HDFC Bank
- Airtel
- Hyundai
Grey Market Premium
Shares of CE Info Systems traded at a 75.5% premium in the grey market one day before the IPO. The shares are traded at a price of Rs.1,813. This gives it a premium of Rs 780 over the issue price band of Rs.1000-1033 per share.
Key IPO Information
Rakesh Kumar Verma And Rashmi Verma are the promoters of the company. The whole issue is an offer for sale. The company has appointed Axis Capital Ltd., JM Financial Ltd., Kotak Mahindra Capital Co. Ltd., and DAM Capital Advisors Ltd.as the lead managers to the issue. Link Intime India Pvt. Ltd. is the registrar to the issue.
| Particulars | Details |
|---|---|
| IPO Size | ₹1,039.61 Cr |
| Fresh Issue | --- |
| Offer for Sale (OFS) | ₹1,039.61 Cr |
| Opening date | Dec 9, 2021 |
| Closing date | Dec 13, 2021 |
| Face Value | ₹2 per equity share |
| Price Band | ₹1000 to ₹1033 |
| Lot Size | 14 Shares |
| Minimum Lot Size | 1 |
| Maximum Lot Size | 13 |
| Listing Date | Dec 21, 2021 |
Purpose of the IPO
The proceeds from the IPO will be used for
- Offer for sale
In Closing
In this article, we covered the MapMyIndia IPO Review. The Initial Public Offering opens on December 9th and closes on December 13th. Here’s what analysts have had to say on the issue.
“It is generally a good promoters’ pedigree.The fundamentals are good as it is an almost zero debt company. B2B business looks great. Also, good growth potentials look promising,”
– Ravi Singhal, Vice Chairman at GCL Securities
“Qualcomm will exit its entire 5% stake, Zenrin will sell around 3% stake of the holdings, while Phone Pe will have around 18% stake. One may subscribe for listing gains considering its GMP and client base”
Manoj Dalmia, Founder and Director-Proficient Equities Ltd
“It’s significant clientele and rising market share makes it a good bet for long term investment. We advice investors may look to subscribe the IPO for long term and keep a close watch on the future valuations,”
Ravi Singh, Vice President & Head of Research, ShareIndia
“There are no listed companies in India whose business is comparable with that of the company’s business. We assign the “Subscribe” rating to this IPO as the company is one of the leading data and technology products and platform company having a well-known brand MapmyIndia with customers like PhonePe, Hyundai and Flipkart. Also, it is available at a reasonable valuation considering the future growth potential,”
– Marwadi Shares and Finance Limited
For investors, it can be a good opportunity to look into the company and apply for the IPO after analysing the prospects and strengths. Let us know what you think about the MapMyIndia IPO review in the comments below? Happy Investing!
Aron, Bachelors in Commerce from Mangalore University, entered the world of Equity research to explore his interests in financial markets. Outside of work, you can catch him binging on a show, supporting RCB, and dreaming of visiting Kasol soon. He also believes that eating kid’s ice-cream is the best way to teach them taxes.
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