MapmyIndia IPO share allotment status: MapmyIndia IPO’s GMP remains positive a day after the share allotment was finalised. As the situation stands, the company is headed for a strong stock market debut on December.
The initial public offering (IPO) of digital mapping company C.E. Info Systems (MapmyIndia) was subscribed 154.71 times over the 70.44 lakh shares that were on offer during the subscription period from December 9-13, 2021.
The price band was fixed at Rs 1,000-1,033 per share. MapmyIndia IPO received bids of over 108.98 crore (1,08,98,95,450) shares against the total issue size of over 70.44 lakh (70,44,762) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 196.36 times, while those of non institutional investors was subscribed a whopping 424.69 times and that of retail individual investors (RIIs) was subscribed 15.20 times, the data showed.
Some brokerages like Motilal Oswal and GCL Securities had to the issue for listing gains. On the other hand, brokerage firm Anand Rathi advised investors to subscribe for long-term gains.
The listing of shares of C.E. Info Systems is likely to take place on Tuesday, December 21, 2021, on both the NSE and BSE.
Axis Capital, JM Financial, Kotak Mahindra Capital Company and DAM Capital Advisors are the book running lead managers to the IPO.