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MapmyIndia Shares Lists At 53% Premium To IPO Price
On expected lines the IPO of MapmyIndia makes a decent listing.As against the IPO issue price of Rs. 1033 per share, the shares of MapmyIndia listed at a price of Rs. 1581 on the BSE, while on the NSE it listed at a price of Rs. 1565.
The issue that ran between December 9-13, 2021 got an overwhelming response with huge NII and QIB oversubscription.
On December 20, 2021, just a day before listing, the shares of the company in the unlisted market demanded a premium of Rs. 630 per share, reasonably decent given the bloodbath that the market witnessed on Monday.
Analysts had majorly given a 'Subscribe' rating to the issue given the unique business model. Further, the financials of the company with zero debt and cash rich situation are also a boost
MapmyIndia is a leading digital maps, location based IoT technology solutions and geospatial software provider. The company services clientele including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network (GSTN).
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