MapmyIndia sets IPO price band cost and profit

MapmyIndia sets IPO price band at Rs 1,000-1,033 per share.

Retail investors will be able for bid to a minimum of 14 shares or one lot at Rs 14,462 and a maximum of 13 lots or Rs 1,88,006 at the upper price band

CE Info Systems, popularly for its brand MapmyIndia, has set the price band for its initial public offering at Rs 1,000-1,033 per equity share of face value of Rs 2 each, the company said in a newspaper notice.

The offer, which will open on December 9 and close on December 13, will be at a floor price of 500 times the face value of the shares and cap price will be 516.50 times.

The company also announced that the lot size will be of 14 equity shares, and in multiples of 14 shares thereafter.

Retail investors will be able to bid for a minimum of 14 shares or one lot at Rs 14,462 and a maximum of 13 lots or Rs 1,88,006 at the upper price band, since they cannot apply for more than Rs 2,00,000 in an IPO.

The company said the price-to-earnings ratio based on diluted EPS for FY21 at the upper end of the band is 93.99, as compared to Nifty50’s 23.68. The market capitalisation to consolidated revenue from operations for FY21 is 36.07 at the upper band.

The company’s maiden public offer of 1,00,63,945 equity shares is entirely an offer-for-sale by selling shareholders, including investor Qualcomm Asia Pacific Pte Ltd. Hence, the company will not receive any funds from the IPO as all the money will go to selling shareholders.

Individual selling shareholder Rashmi Verma 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 via offer for sale.

In addition, the remaining 17,41,533 equity shares will be sold by several other selling shareholders.

CE Info Systems 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 of September, it had serviced over 2,000 enterprise customers, including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network (GSTN).

Investors PhonePe India, Zenrin, and Qualcomm held 19.15 percent, 8.78 percent, and 5.07 percent shareholding, respectively, in the company.

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