InvestorQ : Was the IPO of MapmyIndia fully subscribed and when is the issue closing for subscription?
prachi Patwardhan made post

Was the IPO of MapmyIndia fully subscribed and when is the issue closing for subscription?

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sara Kunju answered.
5 months ago
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The IPO of C.E. Info Systems (MapmyIndia) saw good response from investors at the end of Friday 10-December and it still has one more day to go as the IPO closes on Monday 13-December. Overall, against the 70.45 lakh shares on offer in the IPO, MaymyIndia saw bids for 433.94 lakh shares. This translates into an overall subscription ratio of 6.16 times at the close of the second day. . The subscriptions were dominated by retail followed by the HNIs

Let me first go back to the anchor placement ahead of the IPO, which reduced the QIB portion of the IPO proportionately. On 08-Dec, MapmyIndia placed a total of 30.19 lakh shares with anchor investors at the upper price band of Rs.1,033. Total shares worth Rs.312 crore were placed with 34 anchor investors. Big anchor names included Fidelity, Nomura, Goldman Sachs, Morgan Stanley, Sundaram MF, Nippon India MF, HDFC MF, SBI MF etc.

Now let us go category wise and see how the residual portion was received by investors.

· Firstly, the residual QIB portion got total bids for 86.98 lakh shares against the available quote of 20.13 lakh shares available to IPO investors. This translates into an oversubscription of 4.32 times for the QIB portion, with one more day to go.

· The HNI / NII portion got valid application bids for 94.58 lakh shares against the available NII quota of 15.10 lakh shares. That translates into an IPO subscription of 6.27 times for the NII quota. Most of the bulk funded applications will come on the last day.

· Finally, the retail portion got applications for 252.39 lakh shares against the available quota of 35.22 lakh shares for the retail potion. This translates into oversubscription to the tune of 7.17 times for the retail quota.

The IPO will close for subscription on Monday 13-Dec and has one more day to go.

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