what’s special about it
In this IPO, the company will offer 10,063,945 shares held by its promoters and existing shareholders. Rashmi Verma holds 42.51 lakh shares, Qualcomm Asia Pacific has 27.01 lakh shares and Zenrin Co holds 13.7 lakh shares. The remaining 17.41 lakh equity shares will be sold by other shareholders.
how much reserve for whom
Half the shares in the issue are reserved for Qualified Institutional Investors (QIBs), 15 percent for Non-Institutional Investors (NIIs) and 35 percent for retail investors.
Presently, promoter Rashmi Verma holds 35.88 per cent and Rakesh Kumar Verma holds 28.65 per cent stake in this company. Investors can bid on a minimum of 14 equity shares. That is, retail investors will have to invest at least Rs 14,462. A maximum of 13 lots can be bid. That is, the maximum investment will be Rs 1,88,006.
20 times return
MapmyIndia’s initial investor Qualcomm is selling its 5 per cent stake in this IPO. With this, the semiconductor maker will get about 20 times return on its current investment. Qualcomm first invested in MapmyIndia about 13 years ago. Japanese mapping company Zenrin will sell one-third of MapmyIndia’s 9 per cent stake. The mapping company’s revenue nearly doubled to Rs 100 crore for the half-year ended September, from Rs 55 crore in the same period last year.
What do analysts say
MapmyIndia has around 500 enterprise customers for mapping services and Internet of Things based platforms. In FY21, 44 per cent of its revenue came from auto companies, 9 per cent from the government and the rest from other corporate customers. Experts say that the premium of unlisted shares of the company is running at Rs 795 in the gray market. Anand Rathi said in a note that one can invest in it for long term gains.
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