MapMyIndia IPO's GMP at 100%; issue subscribed 4.3 times on Day 2

MapmyIndia, India's leading map and navigation services provider, is open for public subscription for it's IPO. Founded in 1992, this navigation company is commanding a handsome grey market premium and has seen 34 anchor investors chip in ahead of the IPO as it displays an impressive client list. Here is what you need to know.

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About the company
C.E. Info Systems Ltd, popularly known through its brand MapmyIndia, is backed by global wireless technologies company Qualcomm and Japanese digital mapping Zenrin. MapmyIndia is a leading provider of advanced digital maps, geospatial software and location-based IoT technologies

Big clients mapped in
The company's data powers Apple Inc.’s Maps and Amazon.com Inc.’s Alexa voice assistant. The company's customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network

Issue details

IPO Dates: Dec 9-13 (11-12 being a weekend)
Price Band: Rs 1,000–1,033 per equity share
Lot Size: 14 equity shares
Minimum Investment: Rs 14,462 for one lot
Grey Market Premium(reports): Rs 790