MapmyIndia IPO or CE Info Systems IPO open for subscription on 9th December, 2021 and will be open to bidders till 13th December 2021. Hence, its subscription is going to close today and the last date for bidding, MapmyIndia IPO Subscription Status or CE Info Systems IPO Subscription Status says that the Public Issue has been subscribed 6.16 times in the first two days of bidding. According to market experts, this strong response to the public issue is also affecting the share price of MapmyIndia in the gray market.
Mapmyindia GMP
According to market experts, Mapmyindia’s IPO is GMP today 1080, which is 30 more than yesterday’s gray market premium (GMP) 1050. He said MapmyIndia IPO GMP has remained up for the last 4 days 1000 indicating strong membership of the public issue.
Market observers said Mapmyindia’s IPO was GMP on Saturday 1010 while it was Friday 980 per share.
what does this gmp mean
Market observers said the GMP is indicative of potential listing gains in the gray market. MapmyIndia IPO is today as GMP 1080, Means Gray Market is Expecting MapmyIndia IPO Listing 2113 ( 1033 + 1080), which is over 100 percent of its price band from 1000 1033 per equity share.
Mapmyindia IPO Membership Status
public issue eligible 1,039.61 crores have been subscribed 7.17 times in the retail category, 4.32 times in the QIB category and 6.27 times in the NII category. Following a strong response from investors, the gray market on public offerings has become extremely bullish.
Advising investors to subscribe to the IPO for the long term, Ravi Singh, Head of Research and Vice President, ShareIndia, said, “MapmyIndia’s profitability has shown good scope with strong technology and high operating leverage. It is a significant clientele and growing market share makes it a good bet for long term investment. We recommend investors to subscribe to the IPO for a longer duration and keep a close watch on future valuations.”
Meanwhile, Abhay Doshi, Founder, UnlistedArena.com, said, “Map My India (CEISL) offers digital maps under strong market position MaaS, SaaS and PaaS. Their digital maps cover 6.29 million kilometers of roads in India. which represent 98.50% of India’s road network.With the rise in new age companies, startups in consumer tech, last-mile delivery and e-commerce that need to adopt map services, the potential for growth make it attractive.”
On the financial front, the EBITDA margin for FY 2011 stood at around 35%, while net profit grew at 33% CAGR for the period FY 2019-21. The issue price is 13.54x its book value and the asking PE is 58x (annual FY22). Considering the growth and prospects of such a tech company, a good crowd is expected for the issue.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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