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Digital mapping co MapmyIndia attracts Rs.312-Cr from anchor investors

Economic Times  

Digital mapping company MapmyIndia, which powers Apple maps, has raised INR 312 crore from anchor investors ahead of its initial share sale that opens for public subscription today. The company has allotted 30.19 lakh equity shares to 24 anchor investors at INR 1,033 apiece, taking the transaction size to INR 312 crore. Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Aberdeen and HSBC were allocated equity shares by MapmyIndia into the anchor book. In addition, domestic mutual funds SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Tata MF and Sundaram MF, as well as life insurance companies such as HDFC Life and Tata AIA Life participated in the anchor book. The IPO is entirely an offer for sale (OFS) of up to 10,063,945 equity shares by existing shareholders and promoters. The OFS comprises sale of up to 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 lakh equity shares by Zenrin Co Ltd. The remaining 17.41 lakh equity shares will be offloaded by several other shareholders. At present, promoters -- Rakesh Kumar Verma and Rashmi Varma -- hold 28.65 % and 35.88 % stake in the company