C.E Info Systems stock makes stellar market debut, closes 38% premium to the issue price

 

Enclosed photograph:: (L-R)  Mr. Rohan Verma (Whole Time Director and CEO) and Mr. Rakesh Verma (Chairman and Managing Director) of C.E Info Systems Limited, at the iconic gong ringing ceremony at BSE.

C.E Info Systems stock makes stellar market debut, closes 38% premium to the issue price

Mumbai, December 21, 2021:  C.E Info Systems Limited (the “Company”), a fast growing SaaS technology company catering to 500 marquee customers across Consumer Tech, Auto OEMs, enterprises across private & public sector, listed on the NSE at Rs 1565 at 51.50% premium over its issue price. The scrip got listed at BSE at Rs 1581 per share, a 53.05% per cent premium over its issue price of Rs 1033. The shares of the company at day end closed at Rs.1394.55 per share on BSE and at Rs 1375 per share on NSE. The initial public offering was offered at a lower price band of Rs 1000 per share and higher price band of Rs 1033 per equity share.

As per BSE, the total quantity traded stood at 11.41 lakh shares with a delivery quantity percentage of 40.62%. Total Quantity traded at NSE stood at 126.97 lakh shares with a delivery quantity percentage of 33.02%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 2052.8 crore.

Mr. Rohan Verma, Whole Time Director and CEO, C.E Info Systems Limited (MapmyIndia) said "We have always wanted to build an enduring and impactful company that is for India, from India and by Indians. So we are really happy to go from being privately held to publicly held, with lakhs of public shareholders across the length, breadth and depth of India. We are happy that during the IPO process, the market at large appreciated the value of MapmyIndia’s maps, technologies, products, platforms, APIs and solutions and our ability to deliver potentially infinite benefits to customers and users across the enterprise and consumer world. We are grateful that tens of lakhs of retail investors, blue chip domestic insitutional investors including mutual funds and insurance companies, and marquee internationally renowned investors, all participated in our IPO, and welcome them to join in our journey".

The Market Capitalization of the Company post today’s closing price stood at Rs. 7425 crore as per BSE and Rs. 7321 crore as per NSE.

The Initial Public Offering of the company was entirely an offer for sale with promoters and existing shareholders selling 1,00,63,945 equity shares and the issue was closed on 13th December 2021. The portion reserved for retail investors was subscribed 15.20 times. While the Qualified Institutional Buyer category was subscribed 196.36 times, the Non-Institutional Investor category was subscribed 424.69 times. Overall the issue was subscribed 154.71 times.

Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM Capital Advisors Limited are the book running lead managers to the issue.