MapmyIndia has filed a draft red herring prospectus (DRHP) with capital marketplace regulator SEBI, to launch an IPO. The public concern is completely an offer you-for-sale (OFS) of up to 75.47 lakh shares by promoting shareholders. The OFS comprises sale of up to 30.70 lakh equity shares by Rashmi Verma, up to 20.26 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 10.27 lakh equity shares by Zenrin Co Ltd. MapMyIndia, also identified as CE Info Systems, is backed by worldwide wireless technologies corporation Qualcomm and Japanese digital mapping Zenrin.
Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers to the concern. Link Intime India Private Ltd is the registrar to the concern. There are no listed businesses in India that engage in a company related to that of MapmyIndia. The corporation will not obtain any proceeds from the offer you and all the offer you proceeds will be received by the respective promoting shareholders.
MapmyIndia has partnered with the Indian government and has been in the marketplace for more than 25 years, also has business partners like Honda, Apple and so on. which are their consumers as effectively as tech partners. Some publicly accessible deployment particulars reveal that Apple goods use MapmyIndia maps as do payment gateways like Paytm, PhonePe, or e-commerce meals delivery platforms like McDonald’s, REBEL Food Eat Sure, Grofers, Cars24. Store locators by businesses like SBI Branch Locator, Bajaj Finserv, Single Interface, BFL, Prasar Bharti DTH Dealer locator use the very same. Ride-hailing apps like Malbork or net apps like Magic Bricks, 99acres use MapmyIndia as well. Customer complaint app of India’s biggest phone provider- Airtel. Emergency response apps by Paras Hospital, Cowin, or the GVK EMRI Emergency Ambulance Dispatching. FMCGs like Patanjali Ayurveda or Asian paint and utilities like Tata Power use their goods and services as well.
MapmyIndia’s company model is mostly to charge prospects royalties, subscriptions, and annuities in return for offering licenses and usage rights to its intellectual home-based digital map information, platforms, APIs and application. MapmyIndia has some clear positive aspects in the context of company in India, that are not simply replicable, placing up higher barriers to entry in the map and navigation company in India. In its DRHP, MapmyIndia mentioned that as its goods and options particularly localised for a difficult geography like India, which has a higher level of complexity, dynamic and consistently evolving nature of geographical expanse, also supplies MapmyIndia with a base and preparedness to offer you robust offerings for the worldwide marketplace as effectively, obtaining covered difficult geography like India below its belt.