New Delhi: The initial public offering of CE Info Systems Ltd, the parent of digital mapping company MapmyIndia, was subscribed more than two times on the first day on Thursday.
The company, popularly known through its brand MapmyIndia, is backed by global wireless technology company Qualcomm and Japanese digital mapping genin. It provides advanced digital maps, geospatial software and location-based IoT technologies. Among others, it powers Apple Maps.
The latest BSE data showed that the initial public offering (IPO) was subscribed 2.02 times, with 1,42,31,406 bids for 70,44,762 shares.
The Qualified Institutional Buyer (QIB) category was subscribed 46 per cent and the share of non-institutional investors was subscribed 1.17 times. In the latter segment, there are 15,09,592 shares on offer and as per the data, 17,59,870 bids were received.
On Wednesday, the company raised Rs 312 crore from anchor investors.
IPO is an offer for sale of 10,063,945 equity shares by the entire existing shareholders and promoters. The issue price band is Rs 1,000-1,033 per share. Read also: Indian economy likely to grow by 9% in next fiscal: Credit Suisse
The issue is expected to fetch Rs 1,039.6 crore at the upper end of the price band. Read also: Booking LPG Cylinder? Use this method to get bumper cashback on buying LPG
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