MapmyIndia’s CE Info Systems lists at 53% premium

Rohan Verma, CEO, Rakesh Verma, CMD at C.E Info Systems gong ringing at BSE.

MapmyIndia’s CE Info Systems lists at 53% premium

Mark Cap stands at Rs. 7,425 crore as per BSE

CE Info Systems got listed at BSE at Rs 1581 per share, a 53.05% per cent premium over its issue price of Rs 1033

MUMBAI, Dec 21 (The CONNECT) -  C.E Info Systems Limited, a fast growing SaaS technology company that owns MapMyIndia brand, listed on the NSE at Rs 1,565 at 51.50% premium over its issue price.

The scrip got listed at BSE at Rs 1581 per share, a 53.05% per cent premium over its issue price of Rs 1033. The shares of the company at day end closed at Rs.1394.55 per share on BSE and at Rs 1375 per share on NSE.

The initial public offering was offered at a lower price band of Rs 1000 per share and higher price band of Rs 1033 per equity share.

As per BSE, the total quantity traded stood at 11.41 lakh shares with a delivery quantity percentage of 40.62%. Total Quantity traded at NSE stood at 126.97 lakh shares with a delivery quantity percentage of 33.02%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 2052.8 crore.

Rohan Verma, Whole Time Director and CEO, C.E Info Systems Limited (MapmyIndia) said "We have always wanted to build an enduring and impactful company that is for India, from India and by Indians. So, we are really happy to go from being privately held to publicly held, with lakhs of public shareholders across the length, breadth and depth of India. We are happy that during the IPO process, the market at large appreciated the value of MapmyIndia’s maps, technologies, products, platforms, APIs and solutions and our ability to deliver potentially infinite benefits to customers and users across the enterprise and consumer world. We are grateful that tens of lakhs of retail investors, blue chip domestic institutional investors including mutual funds and insurance companies, and marquee internationally renowned investors, all participated in our IPO, and welcome them to join in our journey".

The Market Capitalization of the Company post today’s closing price stood at Rs. 7425 crore as per BSE and Rs. 7321 crore as per NSE.

The Initial Public Offering of the company was entirely an offer for sale with promoters and existing shareholders selling 1,00,63,945 equity shares and the issue was closed on 13th December 2021. The portion reserved for retail investors was subscribed 15.20 times. While the Qualified Institutional Buyer category was subscribed 196.36 times, the Non-Institutional Investor category was subscribed 424.69 times. Overall the issue was subscribed 154.71 times.

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.

CE Info System Limited is country’s leading provider of advanced digital maps, geospatial software and location-based internet of things (IoT) technologies. Founded in 1995 and headquartered in New Delhi, India, MapmyIndia pioneered digital mapping in India, and is the B2B & B2B2C market leader for SaaS (Software as a Service), PaaS (Platform as a Service) and MaaS (Maps as a Service) in India. It provides a comprehensive suite of products, platforms, APIs and solutions for automotive & mobility tech, as well as for consumer tech & enterprise digital transformation.

For the financial Year 2021, it reported a profit of Rs 59.4 crore, a 157% rise from Rs 23.1 crore profit it posted in FY20. The company’s revenue from operations increased to Rs 152.46 crore in FY21 from Rs 148.63 crore in FY20, primarily due to increase in number of customers and sale of its base platform products.

In February, Indian Space Research Organisation and location and navigation technology solutions provider MapmyIndia announced an initiative to partner together to offer India’s best, and fully indigenous, mapping portal and geospatial services.

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