MapmyIndia Share To List On December 21, Know What GMP Indicates

New Delhi: The share allocation has been finalized for MapmyIndia, a leading provider of advanced digital maps, geospatial software and location-based IoT technologies.

The shares of the company will be listed on December 21, 2021 and MapmyIndia IPO allotment was finalized on December 16 and the shares will be credited to the demat accounts of the eligible investors just a day before they are listed in the market.

The public issue of MapmyIndia's worth Rs 1039.61 has got a strong response from investors from December 9 to December 13 as it was subscribed over 154 times. Compared to the office size of 70 lakh shares, it received bids for 108 crore shares.

The reserved portion of retail investors was oversubscribed 15.20 times while Non Institutional Investors (NII) and Qualified Institutional investors was subscribed 4254.69 and 196.36 times, respectively.

What GMP Indicates?

Initially, the Grey Market Premium (GMP) of MapmyIndia indicates that the issue could be one of the best market listing among all other public issues which are to make their debut on bourses next week.

Notably, as of 1:30 on Friday, the GMP of mapmyIndia was Rs 940, or a premium of 91 percent compared to the issue price of Rs 1033. If it remains the same, the shares of the company may get listed at Rs 1973.

However, the IPO of MammyIndia GMP was Rs 1,040 on 15th December and has fallen by Rs 100.

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