C.E Info Systems (MapmyIndia), a fast-growing SaaS technology firm with 500 marquee clients spanning Consumer Tech, Auto OEMs, and companies in the private and public sectors, experienced substantial retail investor interest in its first public offering, which opened for subscription on Thursday.
According to the 5:00 pm statistics available on the bourses, the offer received bids for 1,42,31,406 shares against the offered 70,44,762 equity shares.
Retail investors bid 3.28 times the number of shares allotted for them, while non-institutional investors bid 1.17 times the number of shares reserved for them.
The part for qualified institutional purchasers was 0.46 times subscribed. The issue was subscribed 2.02 times in total, with RateGain Travel Technologies receiving 41% on the first day of subscription.
The primary offering consists solely of Offer for Sale (OFS) shares with a face value of Rs 2 each, with existing shareholders and promoters dumping 1,00,63,945 equity shares in the range of Rs 1000 to 1033 apiece.
Rashmi Verma may sell up to 42,51,044 equity shares, Qualcomm Asia Pacific Pte Limited may sell up to 27,01,407 equity shares, Zenrin Co. Limited may sell up to 13,69,961 equity shares, and other shareholders may sell up to 17,41,533 equity shares.
Brokerage firms such as Religare Securities, Angel One, Kotak Securities, Hem Securities, and Motilal Oswal Financial Services have recommended that the issue be subscribed to.
CE Info Sytems collected Rs 312 crore from 24 anchor investors, who received 30,19,183 equity shares at a price range of Rs 1033 per share.
Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen, HSBC, and White Oak are among the marquee international portfolio investors that have been granted equity shares in the anchor book by MapmyIndia.
SBI, HDFC, ICICI Prudential, Birla, Nippon, Tata & Sundaram, and HDFC Life and Tata AIA Life were among the leading local mutual funds and life insurance firms that participated in MapmyIndia’s anchor book.
The issue’s book running lead managers are Axis Capital, JM Financial, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited.
