MapmyIndia IPO: The 3-day subscription of the public issue is opening tomorrow and it will remain open for bidding till 13th December 2021. The digital map provider company aims to raise ₹1,039.61 crore from its public offer, which 100 per cent OFS (Offer for Sale) in nature. The company has fixed price band of the book build issue at ₹1000 to ₹1033 per equity share. However, ahead of the subscription opening grey market is giving strong signal in regard to the IPO. According to market observers, shares of MapmyIndia are trading at a premium of ₹795 in grey market today.
Here we list out important details in regard to MapmyIndia IPO:
- MapmyIndia IPO GMP: As per the market observers, MapmyIndia IPO GMP today is ₹795, which is ₹15 lower from its yesterday's grey market premium (GMP) of ₹810. Market observers said that bullish mood in regard to the public issue can be attributed to the positive stock market bias. They said that such a robust opening of MapmyIndia shares in the grey market augurs well for the IPO ahead of its subscription opening.
- MapmyIndia IPO subscription date: As mentioned above, MapmyIndia IPO subscription will open on 9th December 2021 and it will remain open for bidding till 13th December 2021.
- MapmyIndia IPO price band: company has fixed price band of the book built issue at ₹1000 to ₹1033 per equity share.
- MapmyIndia IPO lot size: A bidder will be able to apply in lots and one lot will comprise 14 company shares. Single bidder can apply for a maximum of 13 lots.
- MapmyIndia IPO investment limit: As one can bid for minimum one lot and maximum 13 lots, the minimum investment allowed in the IPO is ₹14,462 ( ₹1033 x 14) whereas maximum investment in the IPO is capped at ₹1,88,006 [( ₹1033 x 14) x 13].
- MapmyIndia IPO allotment date: The tentative date for share allotment is expected on 16th December 2021. Initiation of refund will begin on 17th December 2021 and credit of shares in the Demat Account of lucky bidders is likely on 20th December 2021.
- MapmyIndia IPO listing: Shares of the digital map provider company will list on both NSE and BSE and the likely date of share listing is 21st December 2021.
- MapmyIndia IPO subscribe or not: Speaking on the fundamentals in regard to MapmyIndia IPO; Ankur Saraswat, Research Analyst at Trustline Securities said, "It is a India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies with strong clientele orders of 500 including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network. The company has been improving financial performance over years with strengthening of balance sheet. It is a debt-free company. So, this is a good business in digital maps and location intelligence technologies and services space to bet on."
Giving 'subscribe' tag to the public issue; Ravi Singh, Head of Research & Vice President at ShareIndia said, "MapmyIndia profitability has shown good scope backed with strong technology and high operating leverage. 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."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
