IPO of MapmyIndia subscribed 2 times on first day of issue

The IPO of CE Info Systems, the company that owns digital mapping firm MapmyIndia, was subscribed 2 times on Thursday, the first day of the issue. 

The retail portion of the issue was subscribed 3.3 times, HNI portion 1.2 times and institutional investor portion 0.5 times. The IPO closes on Monday. 

The company is a provider of digital maps, geospatial software and location-based software solutions. It caters mainly to the business-to-business segment. 

The price band for the issue is Rs 1,000-1,033 per share. At the top-end, the issue size works out to Rs 1,040 crore. The IPO is entirely an offer for sale. In the IPO, the company is valued at Rs 5,500 crore.