InvestorQ : Is it worth investing in the CE Info Systems IPO for listing gains?
Anamika Sodhani made post

Is it worth investing in the CE Info Systems IPO for listing gains?

Angel dcosta answered.
2 years ago

C.E. Info Systems is better known by its digital mapping brand, MapmyIndia. The company offers proprietary digital maps as a service (MAAS). MapmyIndia essentially provides digital maps, geospatial software and location based IOT (internet of things) technologies. It has extensive coverage of India with nearly 98.5% of the arterial road network in India and has over 40 crore geo-referenced photos with granular location details.

The IPO will be entirely an offer for sale of 1,00,63,945 shares. Among major participants in the OFS; key shareholder Rashmi Verma will sell 42.51 lakh shares, Qualcomm Asia will sell 27.01 lakh shares and Zerin will sell 13.70 lakh shares. Since there is no fresh issue component, there will be no fresh funds coming into the company, so no equity dilution.

The IPO will open for subscription on 09-Dec and close for subscription on 13-Dec due to trading holidays in between. The company will finalize basis of allotment on 16-Dec and payment of refunds to non-allottees will be initiated on 17-Dec. The shares will be credited to the demat of eligible shareholders on 20-Dec. The stock will be listed on the BSE and the NSE for regular and normal trading from 21-Dec onwards.