MapmyIndia lands a valuation of Rs.84.66 billion ($ 1.12 billion) after debuting in the market at 54 percent. CE Info Systems, well known as shares of the brand, made a strong debut in spite of volatility in the equity market , listing with a premium of 53 percent. The stock opened at Rs. 1,581 crore on the BSE (Bombay Stock Exchange) contrary to the issue price of Rs. 1,033 crore per share, whereas on the National Stock Exchange (NSE), the opening price was Rs. 1,565 crore.

The initial public subscription of MapmyIndia gains remarkable demand from investors as the offer subscribed 154.71 times during December. Non-institutional stakeholders had put in bids 424.69 times the portion earmarked for them, and the allotted quota of qualified institutional buyers was booked 196.36 times, whereas the portion set aside for retail investors saw 15.20 times subscription.

Analysts endorsed to subscribe for the issue were given with strong financials, leadership in digital mapping, strong data governance and marquee customers across sectors. The company has mobilized Rs. 1,039.6 crore through public issue. The price band for the offer estimated about Rs. 1,000-1,033 per share.

Motilal Oswal says, “we like MapmyIndia given its leadership in digital mapping, strong entry barriers, robust profitable data and tech platform along with consistent financials. The issue is valued at 27x 1HFY22 annualized Enterprise Value/Sales, which although expensive is similar to other Indian unicorns.”

Hem Securities says, “the company being a B2B and B2B2C market leader in India with a comprehensive suite of SaaS, PaaS and MaaS offerings is capitalizing on early mover advantage.”
MapmyIndia clocked substantial growth in profit at Rs. 59.43 crore in FY21, compared to Rs. 23.19 crore in the previous year. Revenue during the same period increased to Rs. 152.46 crore from Rs. 148.63 crore.

“MapmyIndia is rightly placed to tap the high growth digital mapping market. Investors with high risk appetite can subscribe for listing gains given fancy for unique and first of its kind listing," brokerage adds.