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MapmyIndia IPO to open on December 9; price band set at Rs 1,000-1,033/share.

Digital mapping company MapmyIndia, which powers Apple maps, has fixed a price band of Rs 1,000-1,033 a share for its Rs 1,040-crore initial share-sale, which will open on December 9.

The three-day initial public offering (IPO) will conclude on December 13. The bidding for anchor investors will open on December 8, the company announced. The IPO is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders and promoter.

The OFS comprises sale of up to 42.51 lakh equity shares by Rashmi Verma, up to 27.01 lakh equity shares by Qualcomm Asia Pacific Pte Ltd and up to 13.7 lakh equity shares by Zenrin Co Ltd. In addition, the remaining 17.41 lakh equity shares will be offloaded by several other selling shareholders.


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