After two days of bidding, the MapmyIndia IPO or CE Info Systems IPO opened for subscription on December 9, 2021. Following the positive reaction from investors, the grey market has become extremely bullish on the public offering. Shares of MapmyIndia are currently trading in the grey market at a premium of 1010, according to market experts.

The public issue was subscribed 6.16 times in the first two days of bidding, according to MapmyIndia IPO subscription status or CE Info Systems IPO subscription status. The retail category has to get subscribed 7.17 times, the QIB category 4.32 times, and the NII category 6.27 times for the public issue valued at 1,039.61 crores.

According to market experts, the GMP for the MapmyIndia IPO today is 1010, up 120 from the grey market premium of 890 on Friday. Aas the sources, an increase in grey market premium on Monday, the last day to apply for the IPO, implies a sharp increase in subscription. According to market experts, the MapmyIndia IPO grey market premium debuted in the grey market at approximately 750 and has since risen to a 4-digit, owing to subscription levels and bullish stock market sentiment in recent sessions.

What does this GMP mean?

Before deciding whether you should apply for Mapmyindia IPO, it’s good to know a bit about the same. Grey market premium, according to market experts, is an unofficially estimated listing gain by the grey market.

Because the GMP for MapmyIndia’s IPO is 1010 today, the grey market expects MapmyIndia’s stock to trade at roughly 2043 (1033 + 1010), which is nearly a 100% premium over its price band of 1000 to 1033 per equity share.

See also  Congress Ignores The Judiciary And Asks To Respect Reform Urgently

MapmyIndia IPO: Apply or not?

According to Ravi Singh, Head of Research and Vice President at ShareIndia, the public issue should get labeled as “subscription.” “MapmyIndia’s profitability has demonstrated a lot of potentials, thanks to its strong technology and great operational leverage. Its large clientele and increasing market share make it a solid long-term investment. Investors could consider subscribing to the IPO for the long term and keeping a careful eye on future prices.”

Ankur Saraswat, the Research Analyst at Trustline Securities, highlighted MapmyIndia’s solid economic framework, saying, “It is India’s premier supplier of modern digital layouts, geospatial applications, and location-based IoT technologies with powerful customer commands of 500 such as PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, Hyundai, MG Motor, Avis, Safexpress, and Goods and Service Tax Network.”

With the improvement of the balance sheet, the company has improved its financial performance throughout the years. It is a corporation that is debt-free. So, in the digital maps and location intelligence technologies and services arena, this is a terrific firm to invest in.”

That’s it for now. Stay connected with us for more updates!!

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

Leave a Reply

Your email address will not be published. Required fields are marked *