MapmyIndia IPO subscribed whopping 154.71 times

The initial public offer of CE Info Systems Ltd, the parent of digital mapping company MapmyIndia, garnered strong investor response and was subscribed a whopping 154.71 times on the last day of subscription on Monday.

Popularly known through its brand MapmyIndia, the company is backed by global wireless technologies company Qualcomm and Japanese digital mapping firm Zenrin.

The IPO received bids for over 108.98 crore shares against over 70.44 lakh shares on offer, as per an update on the NSE.

The non-institutional investors category was subscribed 424.69 times, while Qualified Institutional Buyers (QIBs) portion received 196.36 times subscription and Retail Individual Investors (RIIs) 15.20 times.

The initial public offer (IPO) of up to 1,00,63,945 equity shares had a price range of Rs 1,000-1,033 per share.

The company mopped up Rs 312 crore from anchor investors on Wednesday.

The company provides advanced digital maps, geospatial software and location-based IoT technologies and among others, it powers Apple maps.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd and DAM Capital Advisors Ltd were the managers to the offer.