Chip major Qualcomm to book 20X returns in MapmyIndia's Rs 1,040-cr IPO

The price band for the offer has been fixed at Rs 1,000 - Rs 1,033 per equity share

With early investor Qualcomm exiting its entire 5 per cent stake in digital mapping company MapmyIndia as part of its IPO, the semiconductor major is expected to book a return of almost 20X over the weighted average cost of Rs 52 per share of its current holdings. Qualcomm had first invested in MapmyIndia about 13 years ago.

MapmyIndia aims to mop up Rs 1,040 crore through an initial public offering that will sell 18.9 per cent of the equity shares of the firm. This means that the 25-year-old tech company is valued at Rs 5,500 crore in the IPO.

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