MapmyIndia IPO
IPO Details
- Open Date 09-Dec-21
- Close Date 13-Dec-21
- Lot Size 14
- IPO Size ₹ 1,039.61 Cr
- IPO Price Range ₹ 1000 to ₹1033
- Min Investment ₹ 14,000
- Listing Exchange NSE, BSE
- Basis of Allotment 16-Dec-21
- Refunds 17-Dec-21
- Credit to Demat Account 20-Dec-21
- Listing Date 21-Dec-21
MapmyIndia IPO Subscription Status
| Category | Subscription Status |
| Qualified Institutional (QIB) | 196.36 Times |
| Non-Institutional (NII) | 424.69 Times |
| Retail Individual | 15.20 Times |
| Total | 154.71 Times |
MapmyIndia IPO Subscription Details (Day by Day)
| Date | QIB | NII | Retail | Total |
| December 09, 2021 17:00 | 0.46x | 1.17x | 3.28x | 2.02x |
| December 10, 2021 17:00 | 4.32x | 6.27x | 7.17x | 6.16x |
| December 13, 2021 17:00 | 196.36x | 424.69x | 15.20x | 154.71x |
IPO Synopsis
C.E Info Systems, popularly known as MapmyIndia, opens for subscription between December 9 and December 13. It is expected to be listed on the stock exchanges on December 21. The price band for the issue has been set at Rs.1,000-1,033 per share with the minimum investment being Rs.14,462 for 1 lot of shares (1 lot= 14 shares). The issue is entirely an offer for sale of 10,063,945 equity shares which are being offloaded by Rashmi Verma, Qualcomm Asia Pacific Pte Ltd, Zenrin Co Ltd and other shareholders. The issue size can be estimated to be around Rs.1,006-1,040 crore.
The book running lead managers to the issue are Axis Capital, JM Financial Ltd, Kotak Mahindra Capital Company and DAM Capital Advisors. The promoters are Rakesh Kumar Verma and Rashmi Verma. The pre issue promoter shareholding stands at 61.16% and the post issue shareholding stands at 53.73%.
Objectives of the issue:
The main objective of the issue is to offload the shares for the shareholders and benefit from the listing on the stock exchanges.
About MapmyIndia
Founded on 17th February 1995, MapmyIndia (C E Info Systems) offers mainly three things- proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). They are the country’s foremost provider of geospatial software, digital maps and location based IoT technologies. Their marquee investors include PhonePe, Zenrin and Qualcomm.
The company services three major categories, namely; corporate, automotive and government and these customers of theirs in turn serve the entire public. Through their ‘Move’ app and GPS IoT technology and gadgets, they offer professional maps and products directly to retail customers. Some of their customers include PhonePe, Flipkar, Hyundai, Yulu, HDFC Bank, Axis Bank, MG Motor and Safexpress.
The digital maps provided by them cover 6.29 Mn Kms of road aka 98.50% of India’s road network. The company provides analytics, location and navigation for 7,933 towns, 6,37,422 villages, 14.51 million houses and 17.79 million restaurants, malls ATMs etc. A large part of the revenue stems from B2B and B2B2C customers. They charge the customers per car, per use, per transaction and this enables them to earn from subscription fees, royalties or licenses.
Since their inception, the company has serviced over 2000 enterprises, as of September 30, 2021. They had over 500 customers on their platform in FY21. As of 31 March 2021, they have a workforce of 734 employees, both India and overseas.
MapmyIndia Financial Status
|
Particulars (In Rs cr) |
Q2 ended 30th September, 2021 |
FY21 |
FY20 |
FY19 |
|
Revenue from operations |
100.03 |
152.46 |
148.63 |
135.26 |
|
Revenue growth |
66.08% |
17.61% |
0.09% |
- |
|
PAT |
46.77 |
59.43 |
23.20 |
33.57 |
|
EBITDA |
46.12 |
54.32 |
37.19 |
40.46 |
|
EBITDA Margin |
46% |
35% |
25% |
29% |
|
RoNW |
11.51% |
16.60% |
7.79% |
11.7% |
|
EPS |
8.61 |
10.99 |
4.27 |
6.19 |
|
Particulars (In Rs cr) |
Q2 ended 30th September, 2021 |
FY21 |
FY20 |
FY19 |
|
Equity Share Capital |
7.99 |
3.83 |
3.83 |
3.83 |
|
Total Assets |
- |
426.85 |
357.82 |
339.25 |
|
Total Borrowings |
- |
0.59 |
0.88 |
- |
Key Points for MapmyIndia
IPO Key Points
-
Strenghts
1. The company is an independent map, location and geospatial IoT technology based company and this independent nature of MapmyIndia allows them to customize and innovate for their customers. With governments all over wanting to digitize their effors, the market for the company is ever increasing
2. The industry the company is operating in, has high barriers to entry and the fact that the digital maps provided by them already cover a lot of the tough terrain of India, it proves as a hindrance to new companies wanting to enter the industry
3. The company enters into 3-5 year contracts which are renewable in nature and many of their customers are well established brands
-
Risks
1. Any economic downtrends, disruptions in global business will hamper the clients of the company and in turn this will adversely affect the financials and operations of the company
2. A large chunk of the business is dependent on the automotive sector and the Indian market, so if there are any changes in condition of the sector or market, it will affect the business’s financials and operations
3. Any error or inability to update the maps on time will affect the reputation of the company and lead to loss of goodwill and potential customers
4. If the company fails to protect their intellectual property and the database of their customers, it will adversely affect the business and financials
Valuation and Recommendation
Considering the price to be Rs.1,033 per share, the PE multiple of C.E. Info Systems Limited, based on the earnings in FY21 is 91.41x and the price to sales ratio stands at 36.07x the revenue in FY21. At The upper price band seems a little high at first sight but considering the growth potential of the company in the near future, given the digitization of the economy, a demand for real time and precise data along with a very strong barrier to entry in the market due to the early mover advantage availed by the company, a very strong relationship with customers across various segments including the Government of India, a “Subscribe” call can be safely recommended for investors who have a long term perspective.
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IPO FAQs
What is the issue size of the C E Info Systems IPO?
The issue size is around Rs.1,006-Rs.1040 crore comprising of an offer for sale of up to 10,063,945 equity shares.
What is the maximum number of shares of the MapmyIndia (C E Info Sytems) IPO that I can apply for?
The maximum is 13 lots- 182 shares, worth Rs.1,88,006.
How many shares will I get in 1 lot?
1 lot of MapmyIndia (C E Info Sytems) IPO has 14 shares.
When will the share be listed on the stock exchanges?
On December 21st, 2021, MapmyIndia (C E Info Sytems) will be listed on the stock exchanges.
Where is MapmyIndia (C E Info Sytems) IPO going to be listed?
NSE and BSE both.
What is the price of each share going to be?
The price range set for each share of MapmyIndia (C E Info Sytems) Ltd, is Rs.1,000-1,033 per share.
Who is the registrar to the offer?
Link Intime India Pvt Ltd is the registrar to the MapmyIndia (C E Info Sytems) IPO.
What is the post issue shareholding of the promoters of MapmyIndia (C E Info Sytems)?
The post issue shareholding will stand at 53.73%.
How do I check the allotment status?
Way to check 1- First you need to go to the registrar’s site-Link Intime Pvt Ltd and then visit the IPO allotment page. From the drop down menu, select MapmyIndia (C E Info Sytems) Ltd. Then, enter your PAN card details and select the application type- ASBA or Non-ASBA and enter the required details. After this the status is displayed on the screen.
Way to check 2- Visit the BSE application website page, select equity and then select MapmyIndia (C E Info Sytems)Ltd from the drop down menu. After entering your PAN card details and application number, the status is displayed on the screen.
What is the minimum investment required?
The minimum investment required to apply for the MapmyIndia (C E Info Sytems) IPO is Rs.14,262.
It is the upper range of the IPO price i.e. Rs.1,033*14 shares (1 lot). Minimum investment in an IPO is the amount of money that you need to invest in order to receive 1 lot of shares of the IPO. The number of shares in 1 lot varies from IPO to IPO but normally, the minimum investment value is calculated by multiplying the number of shares in 1 lot with the upper price range of the IPO price per share.
Contact Details of MapmyIndia IPO
Contact Information
C.E. Info systems limited
First, Second, & Third Floor,
Plot. No. 237, Okhla Industrial Estate,
Phase- III, New Delhi 110 020, India
Phone: +91 11 4600 9900
Email: cs@mapmyindia.com
Website: https://www.mapmyindia.com/
MapmyIndia IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ceinfo@linkintime.co.in
Website: https://linkintime.co.in/
MapmyIndia IPO Lead Manager
Axis Capital Limited
DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
JM Financial Consultants Private Limited
Kotak Mahindra Capital Company Limited
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