Published on December 26, 2021
In IT Services

MapmyIndia’s competition with Google Maps

MapmyIndia received a warm welcome at IPO, and the experts suggest they have the perfect formula for growth

Image by Red GPS Pin on Smartphone and Map. Mockup Template Screen 3D Rendering

By Meeta Ramnani

CE Info Systems Ltd, or popularly known as MapmyIndia, received an outstanding subscription at its IPO. The stock on Tuesday opened at a premium of over 51% at Rs 1,565 per share on the NSE v/s the issue price of ₹1,033. On BSE, too, the shares started trading at Rs 1,581 per share. Interestingly, on the last day of subscription that closed on December 13, CE Info Systems Ltd was subscribed 154.71 times. The IPO had up to 10,063,945 equity shares for sale by existing shareholders and promoters. The price range of the set was Rs 1,000-1,033 per share. The company mobilised Rs 312 crore from anchor investors ahead of its initial share sale. What is MapmyIndia, and what do they do? MapmyIndia is a leading provider of geospatial software, advanced digital maps, and location-based Io

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Meeta Ramnani

Meeta’s interest lies in finding out real practical applications of technology. At AIM, she writes stories that question the new inventions and the need to develop them. She believes that technology has and will continue to change the world very fast and that it is no more ‘cool’ to be ‘old-school’. If people don’t update themselves with the technology, they will surely be left behind.