C.E. Info Systems Limited (MapmyIndia)’s
initial public offering to open on December 09, 2021, fixes Price Band at ₹ 1,000/- - ₹ 1,033/- per equity share
·
Price Band of ₹ 1,000/- – ₹ 1,033/- per
equity share bearing face value of ₹ 2 each (“Equity Shares”).
·
Bid/Offer Opening Date – Thursday, December
09, 2021 and Bid/Offer Closing Date – Monday, December 13, 2021.
·
Minimum Bid Lot is 14 Equity Shares and
in multiples of 14 Equity Shares thereafter.
·
The Floor Price is 500 times the face value
of the Equity Share and the Cap Price is 516.50 times the face value of the Equity
Share.
Risks to Investors: • The Price/Earnings ratio based on diluted EPS for Fiscal 2021
for the Company at the upper end of price band is 93.99 as compared to the Nifty
50 Price/ Earnings ratio of 23.68(As on December 1, 2021).The market
capitalization to consolidated revenue from operations for Fiscal 2021 is 36.07
at the upper end of price band • Average Cost of acquisition for equity shares
for all the Selling Shareholders ranges between Negligible to ₹ 94.50 per Equity Share and Offer Price at
upper end of the price band is ₹ 1,033. • Details
of Acquisition of all Equity Shares transacted in last three years and one year:
|
Period
|
Weighted Average Cost of Acquisition Price
(in ₹)*
|
Cap price (₹ 1,033) is ‘X’ times the Weighted
Average Cost of Acquisition
|
Range of acquisition price: Lowest Price
-Highest Price (in ₹)@
|
|
Last 1 year
|
94.70
|
10.91
|
94.47-94.88
|
|
Last 3 years
|
94.70
|
10.91
|
94.47-94.88
|
*
Weighted average cost of acquisition has been calculated by adjusting for split
and bonus of equity shares.
@
acquisition price range has been presented excluding the Nil cost of
acquisition for bonus shares.
·
Weighted Average Return on
Net Worth for Fiscals 2021, 2020 and 2019 is 12.86%.
·
The four BRLMs associated
with the Offer have handled 58 public issues in the past three years, out of
which 21 issues closed below the issue price on listing date.
·
The Offer Price, Market
Capitalization to Revenue multiple and Price to Earnings ratio based on the
Offer Price of the Company, may not be indicative of the market price of the
Company on listing or thereafter.
·
Details of price at which
Equity Shares were acquired in the last three years by Promoters, Promoter
Group, Investor Selling Shareholders, Other Selling Shareholders and
Shareholders with nominee director rights or other rights, preceding the date
of the RHP is disclosed beginning on page 25 of the RHP.
Mumbai, December
04, 2021: C.E. Info Systems Limited (MapmyIndia)
(“Company”), a data
and technology products and platforms company, offering proprietary digital
maps as a service (“MaaS”), software as a service (“SaaS”) and
platform as a service (“PaaS”) and as per the F&S Report, India’s
leading provider of advanced digital maps, geospatial software and
location-based IoT technologies, is proposing to open the Bid/Offer
Period in relation to its initial public offering of Equity Shares (the “Offer”)
on Thursday, December 09, 2021. The Bid/Offer Period will close on Monday,
December 13, 2021. The Price Band for the Offer has been fixed at ₹ 1,000 – ₹ 1,033
per Equity Share.
The Offer
consists of an offer for sale of 10,063,945 Equity Shares comprising up to
4,251,044 Equity Shares by Rashmi Verma (the “Individual Selling Shareholder”),
up to 2,701,407 Equity Shares by Qualcomm Asia Pacific Pte. Ltd., up to
1,369,961 Equity Shares by Zenrin Co., Ltd. (collectively, the “Investor
Selling Shareholders”), and up to 1,741,533 Equity Shares by persons
referred to in Annexure A (the “Other Selling Shareholders” and together
with the Individual Selling Shareholder and the Investor Selling Shareholders,
the “Selling Shareholders”) to the Red Herring Prospectus dated December
2, 2021 (the “RHP”) filed with the Registrar of Companies, National
Capital Territory of Delhi and Haryana at New Delhi (“RoC”).
The Company, the
Individual Selling Shareholder, and the Investor Selling Shareholders may, in
consultation with the book running lead managers to the Offer, consider
participation by Anchor Investors in accordance with the Securities and
Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2018, as amended (the “SEBI
ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one
Working Day prior to the Bid/Offer Opening Date, i.e. Wednesday, December 08,
2021.
The Offer is
being made through the Book Building Process, in terms of Rule 19(2)(b) of the
Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read
with Regulation 31 of the SEBI ICDR Regulations and in compliance with
Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the
Offer shall be allocated on a proportionate basis to Qualified Institutional
Buyers (“QIBs”, and such portion as “QIB Portion”), provided that
the Company, the Individual Selling Shareholder, and the Investor Selling
Shareholders may, in consultation with the Book Running Lead Managers, allocate
up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in
accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”),
of which one-third shall be reserved for domestic Mutual Funds, subject to
valid Bids being received from domestic Mutual Funds at or above the Anchor
Investor Allocation Price. In the event of undersubscription, or non-allocation
in the Anchor Investor Portion, the balance Equity Shares shall be added to the
Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for
allocation on a proportionate basis only to Mutual Funds, and the remainder of
the Net QIB Portion shall be available for allocation on a proportionate basis
to all QIBs, including Mutual Funds, subject to valid Bids being received at or
above the Offer Price.
Further, not less
than 15% of the Offer shall be available for allocation on a proportionate
basis to Non-Institutional Bidders and not less than 35% of the Offer shall be
available for allocation to Retail Individual Bidders (“RIBs”) in
accordance with the SEBI ICDR Regulations, subject to valid Bids being received
at or above the Offer Price.
All potential
Bidders (except Anchor Investors) are required to mandatorily utilise the
Application Supported by Blocked Amount (“ASBA”) process providing
details of their respective ASBA accounts, and UPI ID in case of RIBs using the
UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be
blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the
extent of respective Bid Amounts. Anchor Investors are not permitted to
participate in the Offer through the ASBA process.
The objects of
the Offer are to (i) to carry out the Offer for Sale of up to 10,063,945 Equity
Shares by the Selling Shareholders; and (ii) achieve the benefits of listing
the Equity Shares on the Stock Exchanges.
The Equity
Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”)
and the National Stock Exchange of India Limited (“NSE”, together with
BSE, the “Stock Exchanges”) post the listing. For the purpose of the Offer, BSE is
the Designated Stock Exchange.
Axis Capital
Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and DAM
Capital Advisors Limited are the book running lead managers to the Offer. Link
Intime India Private Limited is the registrar to the Offer.
All capitalized terms used herein and not specifically
defined shall have the same meaning as ascribed to them in the RHP.
Disclaimers: C.E. INFO SYSTEMS LIMITED is proposing, subject to receipt of
requisite approvals, market conditions and other considerations, to make an
initial public issue of its Equity Shares and has filed the RHP with the RoC
and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on
the website of the SEBI at www.sebi.gov.in as well as on the websites of the book
running lead managers, Axis Capital Limited, JM Financial Limited, Kotak
Mahindra Capital Company Limited and DAM Capital Advisors Limited at
www.axiscapital.co.in, www.jmfl.com, www.investmentbank.kotak.com and
www.damcapital.in, respectively, the website of the National Stock Exchange of
India Limited at www.nseindia.com and the website of the BSE Limited at
www.bseindia.com. Any potential investor should note that investment in equity
shares involves a high degree of risk and for details relating to such risks,
see "Risk Factors" on page 30 of the RHP and should refer to the RHP
for further details in relation to the Offer.
The Equity Shares have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any other applicable law of
the United States and, unless so registered, may not be offered or sold within
the United States except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the U.S. Securities Act and
applicable state securities laws. Accordingly, the Equity Shares are being
offered and sold outside the United States in offshore transactions as defined
in, and in reliance on, Regulation S and pursuant to the applicable laws of the
jurisdictions where those offers and sales are made. This announcement does not
constitute an offer of securities for sale in any jurisdiction, including the
United States, and any securities described in this announcement may not be
offered or sold in the United States absent registration under the U.S.
Securities Act or an exemption from such registration. Any public offering of
securities to be made in the United States will be made by means of a
prospectus that may be obtained from the issuer or the selling security holder
and that will contain detailed information about the company and management, as
well as financial statements. No public offering or sale of securities in the
United States is contemplated.
