The initial public offer (IPO) of C E Info Systems (MapMyIndia) received bids for 108,98,95,450 shares as against 70,44,762 shares on offer. The issue was subscribed 154.71 times.

The non institutional investors category was subscribed 424.69 times. The qualified institutional buyers category was subscribed 196.36 times. The retail investors category was subscribed 15.20 times.

The issue opened for bidding on 9 December 2021 and it closed on 13 December 2021. The price band of the IPO was fixed at Rs 1,000-1,033 per share.

The IPO comprised an offer for sale of upto 1,00,63,945 equity shares by the selling shareholders.

Ahead of the IPO, C E Info Systems on 8 December 2021 finalized allocation of 30,19,183 equity shares to anchor investors at an allocation price of Rs 1,033 per share, aggregating to Rs 3,11,88,16,039.

C E Info Systems is a data and technology products and platform company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). The company is one among the leading providers of advanced digital maps, geospatial software, and location-based Internet of Things (IoT). It provides products, platforms, application programming interfaces (APIs) and solutions across a range of digital map data, software, and Internet of Things (IoT) for the Indian market under the 'MapmyIndia' brand and for the international market under the 'MAPPLs' brand. Having pioneered in digital mapping in India in 1995, the company has earned market leadership position in the industry.

The company derives majority of its revenue from business to business and business to business to consumer enterprise customers. Its business model is to charge its customers fees per period based on per vehicle, per asset, per transaction, per use case, per user, as applicable. These take the form of subscription fees, royalties, annuities in return for providing licenses and usage rights to its proprietary digital maps as a service, software as a service and platform as a service offering. Subscription fee, royalty and annuity payments together contributed over 90% of the company's revenue from operation for FY 2021.

On a consolidated basis, the company reported a net profit of Rs 46.77 crore and sales of Rs 100.03 crore in the six months ended September 2021.