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MapmyIndia IPO subscribed 155 times on closing day

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The initial public offering (IPO) of C.E. Info Systems, the parent company of digital mapping startup MapmyIndia, was subscribed 154.71 times by the end of the day on December 13, 2021. At INR 1,033 a share, the upper limit of the IPO price band, the offer attracted bids worth INR 1.12 Lakh crore. The IPO which included only offer for sale (OFS) by existing investors witnessed robust demand from across investor categories. In total bids were placed for 1,08,98,95,450 shares (154.71 times), against the 70,44,762 shares on offer. The non-institutional investors (NII), booked the earmarked portion 424.69 times. The qualified institutional buyers (QIBs) bid for 39,52,30,178 shares (196.36 times) by the end of the offer. The retail portion was subscribed 15.20 times. Earlier, on December 8, the startup had raised INR 311.88 crore from anchor investors by allotting 30,19,183 shares at INR 1,033 per share. The major selling shareholders of this IPO include promoter Rashmi Verma, who will offload up to 4,251,044 shares.US-based technology major Qualcomm will sell up to 2,701,407 shares and Zenrin will offload up to 1,369,961 shares.