C.E. Info Systems Limited (MapmyIndia)

C.E. Info Systems Limited (MapmyIndia)’s initial public offering to open on December 09, 2021, fixes Price Band at  1,000/- -  1,033/- per equity share 

(Mr. Rohan Verma, Whole Time Director and Chief Executive Officer, MapmyIndi)

·         Price Band of ₹ 1,000/- – ₹ 1,033/- per equity share bearing face value of ₹ 2 each (“Equity Shares”).

·         Bid/Offer Opening Date – Thursday, December 09, 2021 and Bid/Offer Closing Date – Monday, December 13, 2021.

·         Minimum Bid Lot is 14 Equity Shares and in multiples of 14 Equity Shares thereafter.

·         The Floor Price is 500 times the face value of the Equity Share and the Cap Price is 516.50 times the face value of the Equity Share.

 

Risks to Investors: • The Price/Earnings ratio based on diluted EPS for Fiscal 2021 for the Company at the upper end of price band is 93.99 as compared to the Nifty 50 Price/ Earnings ratio of 23.68(As on December 1, 2021).The market capitalization to consolidated revenue from operations for Fiscal 2021 is 36.07 at the upper end of price band • Average Cost of acquisition for equity shares for all the Selling Shareholders ranges between Negligible to  ₹ 94.50 per Equity Share and Offer Price at upper end of the price band is  ₹ 1,033. • Details of Acquisition of all Equity Shares transacted in last three years and one year:

Period

Weighted Average Cost of Acquisition Price (in  )*

Cap price ( 1,033) is ‘X’ times the Weighted Average Cost of Acquisition

Range of acquisition price: Lowest Price -Highest Price (in  )@

Last 1 year

94.70

10.91

94.47-94.88

Last 3 years

94.70

10.91

94.47-94.88

* Weighted average cost of acquisition has been calculated by adjusting for split and bonus of equity shares.

@ acquisition price range has been presented excluding the Nil cost of acquisition for bonus shares.

·       Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 12.86%.

·       The four BRLMs associated with the Offer have handled 58 public issues in the past three years, out of which 21 issues closed below the issue price on listing date.

·       The Offer Price, Market Capitalization to Revenue multiple and Price to Earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Company on listing or thereafter.

·       Details of price at which Equity Shares were acquired in the last three years by Promoters, Promoter Group, Investor Selling Shareholders, Other Selling Shareholders and Shareholders with nominee director rights or other rights, preceding the date of the RHP is disclosed beginning on page 25 of the RHP.

Mumbai, December 04, 2021:  C.E. Info Systems Limited (MapmyIndia) (“Company”), 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 as per the F&S Report, India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies, is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Thursday, December 09, 2021. The Bid/Offer Period will close on Monday, December 13, 2021. The Price Band for the Offer has been fixed at ₹ 1,000 – ₹ 1,033 per Equity Share.


The Offer consists of an offer for sale of 10,063,945 Equity Shares comprising up to 4,251,044 Equity Shares by Rashmi Verma (the “Individual Selling Shareholder”), up to 2,701,407 Equity Shares by Qualcomm Asia Pacific Pte. Ltd., up to 1,369,961 Equity Shares by Zenrin Co., Ltd. (collectively, the “Investor Selling Shareholders”), and up to 1,741,533 Equity Shares by persons referred to in Annexure A (the “Other Selling Shareholders” and together with the Individual Selling Shareholder and the Investor Selling Shareholders, the “Selling Shareholders”) to the Red Herring Prospectus dated December 2, 2021 (the “RHP”) filed with the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (“RoC”).

 

The Company, the Individual Selling Shareholder, and the Investor Selling Shareholders may, in consultation with the book running lead managers to the Offer, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Wednesday, December 08, 2021.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion as “QIB Portion”), provided that the Company, the Individual Selling Shareholder, and the Investor Selling Shareholders may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of undersubscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The objects of the Offer are to (i) to carry out the Offer for Sale of up to 10,063,945 Equity Shares by the Selling Shareholders; and (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, BSE is the Designated Stock Exchange.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited are the book running lead managers to the Offer. Link Intime India Private Limited is the registrar to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.

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