MapmyIndia IPO: Opens tomorrow; find key details that investors must know before investing

C.E. Info Systems Limited, which operates India's leading map and navigation services provider - MapmyIndia, will launch its initial public offering (IPO) for public subscription on Thursday, December 9, 2021. The three-day initial share sale will conclude on Monday, December 13, 2021.

The price band for the public issue has been fixed at Rs 1,000-1,033 per share. The company has plans to raise up to Rs 1,040 crore through an offer for the sale of existing shares.

Investors can bid for a minimum of 14 equity shares and in multiples of 14 equity shares thereafter. Retail investors can invest a minimum of Rs 14,462 for one lot, and their maximum investment would be Rs 1,88,006 for 13 lots.

About 50 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors.

The IPO is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders, including Qualcomm Asia Pacific Pte Ltd.

Rashmi Verma, an individual selling shareholder, will sell 42,51,044 equity shares, while Qualcomm Asia Pacific Pte Ltd will offload 27,01,407 equity shares, and Zenrin Co Ltd will sell 13,69,961 equity shares. In addition, the remaining 17,41,533 equity shares will be sold by several other shareholders.

The company will not receive any funds from the IPO as all the money will go to selling shareholders.

Issue Timeline

Bidding Period for the IPO: December 9-13, 2021.

Allotment: December 16, 2021.

Initiation of Refunds: December 17, 2021.

Credit of Shares to Demat Account: December 20 2021.

IPO Listing: December 21, 2021.

Investors PhonePe India, Zenrin, and Qualcomm held 19.15 per cent, 17.82 per cent, and 8.48 per cent shareholding, respectively, in the company.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited and DAM Capital Advisors Limited are the book running lead managers to the issue. Link Intime India Private Limited is the registrar for it.

C.E. Info Systems Limited is a data and technology products and platforms company, offering proprietary digital maps as a service ("MaaS"), software as a service ("SaaS") and platform as a service ("PaaS"). As per the F&S Report, the company is India's leading provider of advanced digital maps, geospatial software and location-based IoT technologies. Having pioneered digital mapping in India in 1995, it has earned a market leadership position in this industry and built a strong moat by capitalizing on our early mover advantage, developing proprietary and integrated technologies, full-stack product offerings, continuous innovation and a robust sustainable business model. (Source: F&S Report)

It provides products, platforms, application programming interfaces ("APIs") and solutions across a range of digital map data, software and IoT for the Indian market under the (MapmyIndia) brand, and for the international market under the Mappls brand.

As of September 30, 2021, C.E. Info Systems had serviced over 2,000 enterprise customers since our inception. During Financial Year 2021 and the six months ended September 30, 2021, it had over 500 customers on our SaaS, PaaS and MaaS platforms. Its customers include marquee and renowned global tech giants, new-age consumer internet technology companies, leading automotive manufacturers, large businesses across industry segments such as BFSI, telecom, FMCG, industrials, logistics and transportation, and key government organisations. Some of our customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network ("GSTN").

Some publicly available deployment details reveal that Apple products use MapmyIndia maps as do payment gateways like Paytm, PhonePe, or e-commerce food delivery platforms like McDonald's, REBEL Food~Eat Sure, Grofers, Cars24.