New Delhi: The Initial Public Offering (IPO) of MapmyIndia saw a 154.71 subscription on the last day of its issue on Monday.
As per the National Stock Exchange (NSE), the issue received bids for over 108.98 crore shares against over 70.44 lakh shares on offer.
The portion received for Non-Institutional Investors (NII) was subscribed 424.69 times, while QIB portion received 196.36 times subscription. Retail investors' portion was subscribed 15.20 times.
The IPO of MapmyIndia worth Rs 1,039.61 has opened for subscription on Thursday with a price band of Rs 1,000-1,033 a share.
The company on Wednesday claimed that it has mobilised Rs 312 crore from anchor investors ahead of its initial share sale.
The subscription status of MapmyIndia, as per the Bombay Stock Exchange (BSE) at 12:40 PM on day 1, the issue of the company was subscribed 0.91 times with retail portion overbooked 1.78 times within hours of opening.
The company's IPO was entirely an Offer For Sale (OFS) of up to 10,063,945 equity shares by existing shareholders and promoter. However, according to reports, the issue is expected to garner Rs 1,039.6 crore at the upper end of the price band.
The company had reserved its 50 per cent issue for Qualified Institutional Buyers (QIBs), whereas Non-Institutional Investors (NII) had 15 per cent of shares allocated for them. On the other hand, Retail portion had been fixed at 35 per cent of the offer.
According to ipobazar, the Grey Market Premium (GMP) of MaymyIndia is Rs 1040 to 1060.
Rashmi Verma one of the company's promoters was to sell 42,51,044 equity shares, while other shareholders such as Qualcomm Asia Pacific Pte will offload 27,01,407 equity shares and Zenrin Co Ltd were to sell 13,69,961 equity shares via OFS.
The company's shares are expected to list on exchanges on December 21, 2021.
The company MapmyIndia which was founded in 1992 is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India.
Also read:Tega Industries Share Debuts With 66 Percent Premium
Also watch: