MapMyIndia IPO: After the 3-day bid closure from 9th to 13th December 2021, the focus has now shifted to the MapmyIndia IPO allotment date, which is most likely to be on 16th December 2021. After a strong 154.71x membership, the gray market has started giving positive signals regarding this. public issue. According to stock market experts, MapmyIndia shares are trading at a premium 1040 in gray market today, indicating strong listing of public issue.
Mapmyindia IPO GMP
As per market observers, MapmyIndia IPO GMP is today 1040, which is 40 less than yesterday’s Gray Market Premium (GMP) 1080. Market observers said GMP was expected to decline after subscription closure but has managed to stay up 1000, which shows the conviction of gray market players with respect to this public issue. He said MapmyIndia’s IPO is above gray market value 1000 signals bumper opening of shares on the date of listing.
What does this GMP mean?
Market observers said the GMP is an unofficial data that indicates how much a public issue is expected to list to the premium gray market. MapmyIndia IPO is today as GMP 1040, means gray market is expecting MapmyIndia stock to get listed around 2073 ( 1033 + 1040), which is more than 100 percent above its price band from 1000 1033 per equity share.
However, stock market experts said that the gray market is an informal data and it changes on a daily basis. Most importantly, it has nothing to do with the financial position of the company. He said that it is the financial position of a company which gives a fair and concrete picture of the business of the company.
What MapmyIndia’s financial position reflects about the financial position of the Company; Abhay Doshi, Founder, UnlistedArena.com, said, “Map My India (CEISL) provides digital maps under strong market position MaaS, SaaS and PaaS. Their digital maps cover 6.29 million kilometers of roads in India, which India’s road network represents 98.50 per cent makes. “
“On the financial front, the EBITDA margin for FY2011 stood at around 35 per cent, while the net profit for the period FY 2019-21 grew at a CAGR of 33 per cent. The issue is priced at a multiple of 13.54 of its book value and The asking PE is at multiple of 58 (Annual FY22). Considering the growth and potential of such a tech company, there is a good rush estimate for this issue,” concluded Abhay Doshi of UnlitArena.com.
Mapmyindia IPO Membership Status
In 3 bidding days from 9 December 2021 to 13 December 2021, MapmyIndia IPO was subscribed 154.71 times, out of which the retail segment got 15.20 times subscribed.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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