MapMyIndia has set the price band for its initial public offering IPO at Rs 1,000 -- 1,033 per equity share of face value of Rs 2 each.
The offer will open on December 9 and will be at a floor price of 500 times the face value of the shares and cap price will be 516.50 times.
The IPO will end on December 13. The bidding for anchor investors will open on December 8, the company announced.
The IPO is an offer for the sale of up to 10,063, 945 equity shares by existing shareholders and promoters.
The OFS consists of the sale of up to 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 lakh equity shares by Zenrin Co Ltd. The remaining 17.41 lakh equity shares will be offloaded by several other selling shareholders.
At present, promoters Rakesh Kumar Verma and Rashmi Varma hold a 28.65 per cent and 35.88 per cent stake in the company.
6 crore are at the upper end of the price band.
CE Info Systems, also known as MapMyIndia, is backed by global wireless technology company Qualcomm and Japanese digital mapping company Zenrin.
The New Delhi-based company is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies.
It provides products, platforms, application programming interfaces, APIs and solutions across a range of digital map data, software, and IoT under the brands MapmyIndia and Mappls. The customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network GSTN Apple products use MapmyIndia maps as do payment gateways like Paytm, PhonePe, or e-commerce food delivery platforms like McDonald's, Grofers, Cars 24. Store locators by companies like SBI Branch Locator, Bajaj Finserv, Prasar Bharti DTH Dealer locator and others use the same.
Half of the issue size has been reserved for qualified institutional buyers QIBs. Further, not less than 15 per cent of the offer will be available for allocation to Non-Institutional Bidders RIBs on a proportionate basis, and not less than 35 per cent of the isue will be available for allocation under the SEBI ICDR Regulations, subject to valid Bids received at or above the offer price, the company stated.
Investors can bid for a minimum of 14 equity shares and multiples thereof.
Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited are book running lead managers to the issue.