MapmyIndia to file papers for Rs.1,300-Cr IPO

Digital mapping product company Mapmyindia is looking to raise INR 1,200-1,300 crore through an initial public offering. The company, which is seeking a valuation of INR 5,500 crore, has appointed investment banks Kotak Mahindra Capital, Axis Capital and JM Financial to manage the IPO. Flipkart, an investor in the company, and promoters will sell part of their stake in the IPO that will also include an issue of fresh shares.