MapmyIndia IPO: Latest GMP, subscription status. Should you apply?
Premium- MapmyIndia IPO GMP today is ₹1010, which is ₹120 up from its Friday grey market premium of ₹890, say market observers
MapmyIndia IPO or CE Info Systems IPO opened for subscription on 9th December 2021 after two days of bidding MapmyIndia IPO subscription status or CE Info Systems IPO subscription status says that the public issue has been subscribed 6.16 times in first two days of bidding. The public issue worth ₹1,039.61 crore has been subscribed 7.17 times in the retail category, 4.32 times in the QIB category and 6.27 times in the NII category. Following strong response from investors, grey market has gone highly bullish on the public issue. According to market observers, shares of MapmyIndia are trading at a premium of ₹1010 in the grey market today.
MapmyIndia IPO GMP
Market observers said that MapmyIndia IPO GMP today is ₹1010, which is ₹120 up from its Friday grey market premium of ₹890. They said that such rise in the grey market premium indicates sharp rise in subscription on Monday, which is the last day to apply for the IPO. market observers maintained that MapmyIndia IPO grey market premium made its debut in the grey market at around ₹750 and went on to hit 4-digit premium today, which is mainly due to the strong subscription status and positive stock market sentiment in recent sessions.
What this GMP mean?
Market observers said that grey market premium is an estimated listing gain by the grey market, which is unofficial. As MapmyIndia IPO GMP today is ₹1010, it means grey market expects MapmyIndia share listing at around ₹2043 ( ₹1033 + ₹1010), which is almost close to 100 per cent premium against its price band of ₹1000 to ₹1033 per equity share.
MapmyIndia IPO: Apply or not?
Giving 'subscribe' tag to the public issue; Ravi Singh, Head of Research & Vice President at ShareIndia said, "MapmyIndia profitability has shown good scope backed with strong technology and high operating leverage. It's significant clientele and rising market share makes it a good bet for long term investment. We advice investors may look to subscribe the IPO for long term and keep a close watch on the future valuations."
Highlighting strong business model of MapmyIndia IPO; Ankur Saraswat, Research Analyst at Trustline Securities said, "It is a India’s leading provider of advanced digital maps, geospatial software and location-based IoT technologies with strong clientele orders of 500 including PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress and Goods and Service Tax Network. The company has been improving financial performance over years with strengthening of balance sheet. It is a debt-free company. So, this is a good business in digital maps and location intelligence technologies and services space to bet on."
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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