CE Info Systems, popularly known for its brand MapmyIndia, has set the price band for its initial public offering at Rs 1,000-1,033 per equity share of face value of Rs 2 each, the company said in a newspaper notice.
The offer, which will open on December 9 and close on December 13, will be at a floor price of 500 times the face value of the shares and cap price will be 516.50 times.
The company also announced that the lot size will be of 14 equity shares, and in multiples of 14 shares thereafter.
Retail investors will be able to bid for a minimum of 14 shares or one lot at Rs 14,462 and a maximum of 13 lots or Rs 1,88,006 at the upper price band, since they cannot apply for more than Rs 2,00,000 in an IPO.
Also read: Primary market buzzing with activity as 4 IPOs hit the Street next week. Check out all the details
The company said the price-to-earnings ratio based on diluted EPS for FY21 at the upper end of the band is 93.99, as compared to Nifty50’s 23.68. The market capitalisation to consolidated revenue from operations for FY21 is 36.07 at the upper band.
The company’s maiden public offer of 1,00,63,945 equity shares is entirely an offer-for-sale by selling shareholders, including investor Qualcomm Asia Pacific Pte Ltd. Hence, the company will not receive any funds from the IPO as all the money will go to selling shareholders.
Individual selling shareholder Rashmi Verma will sell 42,51,044 equity shares, while Qualcomm Asia Pacific Pte Ltd will offload 27,01,407 equity shares, and Zenrin Co Ltd will sell 13,69,961 equity shares via offer for sale.
Also read: RateGain Travel, Shriram Properties, MapmyIndia, Metro Brands IPOs this week; what should investors pick?
In addition, the remaining 17,41,533 equity shares will be sold by several other selling shareholders.
CE Info Systems 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).
Also read: Rakesh Jhunjhunwala-backed Metro Brands IPO opens on December 10, closes on December 14
As of September, it had serviced over 2,000 enterprise customers, including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network (GSTN).
Investors PhonePe India, Zenrin, and Qualcomm held 19.15 percent, 8.78 percent, and 5.07 percent shareholding, respectively, in the company.
Also read: Shriram Properties IPO to hit Dalal Street on December 8, to raise Rs 600 crore
CE Info Systems recorded a profit of Rs 59.43 crore in FY21, up sharply from Rs 23.19 crore in the previous year. Revenue during the same period rose to Rs 152.46 crore from Rs 148.63 crore YoY.
Profit in the six-month period ended September jumped to Rs 46.76 crore compared to Rs 17.86 crore in the same period last year. Revenue during the same period jumped to Rs 100.03 crore from Rs 55.18 crore YoY.
Also read - Why Rakesh Jhunjhunwala-backed Star Health’s IPO failed to enthuse investors
The book running lead managers to the issue are Axis Capital, JM Financial, Kotak Mahindra Capital Company, and DAM Capital Advisors.