कोल्हापूर फिल्म कंपनी 'विठ्ठल दर्शन' अभिनेते जितेंद्र जोशी सादरीकरण करणार

Qualcomm, Zenrin, PhonePe backed MapmyIndia files for its IPO

C.E. Info Systems, a data and technology products company operating under the “MapmyIndia” and “Mappls” brand has filed its DRHP with the regulator for its initial public offering (IPO) that may see it raise approximately Rs 1200 crore, according to market sources.

The IPO consists of a pure offer for sale of 7.55 million shares by its existing shareholders and promoters, comprising of up to 3.07 million shares by Rashmi Verma, up to 2.03 million shares by Qualcomm Asia Pacific Pte Ltd, 1.03 million shares by Zenrin Co. Ltd.

Founded in 1992, MapmyIndia is promoted by Rakesh and Rashmi Verma. It is a data and technology products and platforms company, offering proprietary digital maps as a service (“MaaS”), software as a service (“SaaS”) and platform as a service (“PaaS”) and a leading provider of advanced digital maps, geospatial software and location-based IoT technologies. It charges its customers subscription fees, royalties, annuities in return for providing licenses and usage rights to its proprietary digital MaaS, PaaS and SaaS offerings

The company has built a strong business by capitalizing on its early mover advantage, proprietary and integrated technologies, full-stack product offerings, and efforts towards constant innovation. Most of its products, platforms, and solutions are digital, created in-house, and then deployed and delivered over the cloud, with relatively low variable cost base, which has resulted in high operating leverage in the business. It counts top automakers such as BMW, Tata, Honda and Toyota as its clients besides start-up enterprises like Ola, PhonePe and Yulu and government organization like Central Board of Direct Taxes

In Financial Year 2021, it reported a Contribution Margin of 83%, EBITDA margin of 35%, PAT margin of 31% and a Net Profit of Rs 59.43 cr over Rs 23.20 cr last year.

In February, Indian Space Research Organisation and location and navigation technology solutions provider MapmyIndia announced an initiative to partner together to offer India’s best, and fully indigenous, mapping portal and geospatial services.

MapmyIndia’s maps cover 7.5 lakh villages, more than 7500 cities at street and building-level, connected by all 63 lakh kilometers of road network pan India and within cities, in total providing maps for an unparalleled more than 3 crore places across India and have started to build and release digital maps for countries outside India, such as Sri Lanka, Bangladesh, Nepal, Bhutan, Myanmar, UAE and Egypt.

Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, JM Financial Ltd, and DAM Capital Advisors Ltd are the book running lead managers to the issue.