MapmyIndia makes stellar public debut

Launched in 1995 by Rakesh Kumar Verma and Rashmi Verma, MapmyIndia’s Rs 1,039.61-crore initial public offering (IPO) was oversubscribed by 154.71 times by Dec 13, 2021.

Wednesday December 22, 2021 , 3 min Read

Good Morning,

MapmyIndia, the country’s oldest digital mapmaker, has made its public debut after years of quietly building a space for itself in the market.

For context, the company was founded in 1995 – at a time when Microsoft released Windows 95 and JavaScript was released and deployed. Twenty-six years later, MapmyIndia has begun a new chapter at a time when data-driven use cases are emerging in almost every sector (think real-time logistics support or navigation for autonomous vehicles).

Its Rs 1,040-crore initial public offering (IPO) had already been oversubscribed by 154.71 times at the end of December 13 after it opened for subscription on December 9.

On Tuesday, MapmyIndia, run by C.E. Info Systems, listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange of India) at Rs 1,581 per share and Rs 1,565 per share respectively.

C.E. Info Systems opened 53 percent higher than the issue price of Rs 1,033 per share on the BSE. Similarly, on the NSE, it opened 51.5 percent higher than its issue price.

At the listing ceremony at BSE, Rashmi Verma, Co-founder and Chief Technology Officer of C.E. Infosystems, called the event an “important milestone for our strategic vision, combined with a good execution process.”

MapmyIndia, she said, has a great future ahead based on three factors: the rise of new data sources, machine learning and artificial intelligence, and the evolution of user requirements like smart city, connected mobility, and real-time applications.

YourStory takes a look at its inception and growth over the years. Read more.

The Interview

In this exclusive conversation with YourStory, Deepali Naair, Director Marketing - India and South Asia-IBM, says, to excel as a marketer, it is critical to learn the ‘AAA’ formula of success, which stands for - Agility, Authenticity, and Adaptability to change.

Editor’s Pick: Future of women in India’s informal sector still unsure

The COVID-19 pandemic not only reminded the world of existing gender and economic disparity, but also exacerbated it. In India, women in the informal sector are still recovering from unemployment and loss of livelihood. Read more.

Startup Spotlight

Creating water from air

With water resources becoming scant by the day and climate change making the future uncertain, the water sector is the one area where innovation is the urgent need of the hour.

Founded in 2019, Uravu Labs creates water from air using only renewable energy sources like solar, waste-heat, or biomass to produce 100 percent renewable water. Read more.

News & Updates

Edtech startup Masai School has acquired Delhi-based placement preparation company Prepleaf for $1 million. The acquisition will help Masai offer courses in data and business analytics along with web development, and UI/UX design.

Used car marketplace Spinny has announced the completion of its first Employee Stock Ownership Plan (ESOP) buyback plan worth $12 million. The buyback was open to both current and former employees of the company.

Ahmedabad-based startup incubation centre iCreate has facilitated an investment partnership worth $300 million between Charge+Zone and the Gujarat government to set up 50,000 EV charging stations.

SoftBank backed value-e-commerce platform, Snapdeal, has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise Rs 1,250 crore in fresh issue of shares through an initial public offering (IPO).