MapmyIndia IPO subscribed a whopping 154.71 times on closing day

The initial public offering (IPO) of CE Info Systems (MapmyIndia) was subscribed a whopping 154.7 times on Monday, the concluding day of the offer. The institutional investor portion was subscribed 196 times, the high net worth individual portion by 424 times, the retail investor portion by 15 times.

The company had priced its IPO between Rs 1,000-1,033 each.

Last week, the company raised Rs 312 crore from 24 anchor investors. Investors including Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, HSBC and White Oak were allotted shares. The IPO was an offer for sale (OFS) worth Rs 1,039 crore.

The company is a data and technology products and platforms company, offering proprietary digital maps as a service ("MaaS"), software as a service ("SaaS") and platform as a service ("PaaS"). Mapmy India is a leading provider of advanced digital maps, geospatial software and location-based technologies.