C.E. Infosystems Limited IPO Details

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.
MapmyIndia-IPO

MapmyIndia IPO: Key Details

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Company Information

C.E. Infosystems Limited, incorporated in 1995, are 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”). As per the F&S Report, they are India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies.

Having pioneered digital mapping in India in 1995, they have earned market leadership position in this industry and built a strong moat by capitalizing on the early mover advantage, developing proprietary and integrated technologies, full stack product offerings, continuous innovation and robust sustainable business model.

They provide products, platforms, application programming interfaces (“APIs”) and solutions across a range of digital map data, software and IoT for the Indian market under the MapmyIndia brand, and for the international market under the (Mappls) brand.

Competitive Strengths

  • B2B and B2B2C market leader in India with a comprehensive suite of SaaS, PaaS and MaaS offerings capitalizing on early mover advantage;
  • Independent, global geospatial products and platforms company, with strong data governance;
  • Market position built around proprietary technology and network effect resulting in strong entry barriers;
  • Marquee customers across sectors with strong relationships and capability to up-sell and cross-sell;
  • Their offerings have ever-expanding use cases and they innovate to address technology paradigm shifts;
  • A profitable business model with a consistent financial track record, high operating leverage and strong cash flows.

Company Strategy

  • Augment products, platforms and their technology
  • Continue to scale and expand customer reach leveraging market presence in India
  • Drive expansion in international markets and geospatial sector
  • Pursue selective strategic acquisitions and investments to grow the business
  • Attract, develop and retain skilled employees to sustain the product quality and customer experience

Proceeds from MapmyIndia IPO will be used to:

The Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds (net of any Offer-related expenses to be borne by the Selling Shareholders) will be received by the respective Selling Shareholders.

MapmyIndia IPO: Financials

201920202021 Mar2021 June
Revenue from Ops₹135.26 Cr₹148.63 Cr₹152.47 Cr₹100.03 Cr
Prof Before Exp. Items₹41.80 Cr₹31.60Cr₹78.77 Cr₹62.85 Cr
Profit after Tax₹33.57 Cr₹23.19 Cr₹59.43 Cr₹46.77 Cr
EPS (Basic)6.384.4110.998.61
₹ in Crores, except EPS

EPS (Avg*)P/E (Floor)P/E (Cap)
Based on basic EPS8.19122.1126.13
* Weighted Average for last 3 years

MapmyIndia IPO: Comparison with listed industry peers

As per RHP, There are no listed companies in India that engage in a business similar to that of the Company. Accordingly, it is not possible to provide an industry P/E ratio.

MapmyIndia IPO Dashboard

Issue Details

TypeValue
Issue Size₹1,039.61 Cr
Offer for Sale ₹1,039.61 Cr
Face Value₹12/- per Equity Share
IPO Price₹1000 – ₹1033
Lot Size 14 shares
LotsMin 1 – Max 13

Key Dates

Date TypeDate
Bid Open9/12/2021
Bid Close13/12/2021
Allotment Finalization16/12/2021
Initiation of Refunds17/12/2021
Credit of Shares20/12/2021
Listing Date21/12/2021

Lot Size and Price

LotsSharesAmount
114₹14,462
13182₹1,88,006

Promoter Holding

HoldingPercentage
Pre-Issue61.71%
Post-Issue53.73%

MapmyIndia IPO: Investor Quota and Shares Offered

Investor TypeQuotaShares on Offer
QIB50%
NII15%
RII (Retail)35%
Employees
Total100%

MapmyIndia IPO: Risks

  • A part of the business is dependent on the performance of the automotive sector, including in the key market,India
  • They are dependent on trends in the sectors where the enterprise customers operate.
  • Any inability to maintain or update the map database or errors in the map database could harm reputation
  • Any inability to protect the intellectual property (“IP”) or any third-party claims in relation to infringement of intellectual property rights or in the future could adversely affect business
  • The liberalization of the digital mapping industry may increase competition and any inability to compete effectively resulting in the loss of customers and market share.

For complete internal and external risk factors, you can refer to the RHP of the company.

MapmyIndia IPO: Registrar and Lead Managers

Registrar of the Issue

Link Intime

C-101, 247 Park
L B S Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India

Phone: +91 22 4918 6200
Email: [email protected]

Lead Managers of the Issue

  • Axis Capital Limited
  • JM Financial Limited
  • Kotak Mahindra Capital Company Limited
  • DAM Capital Advisors Limited

Phone: +91 22 6807 7100
Email: [email protected]

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