CE Data Methods: CE Data Methods’ IPO subscribed 154.7 occasions

Mumbai: The ₹1,040-crore preliminary public providing of CE Data Methods, mum or dad of MapmyIndia, was subscribed 154.7 occasions on Monday – the ultimate day of bids.

The IPO obtained bids for 109 crore shares towards the difficulty dimension of 70.44 lakh shares.

The certified institutional consumers’ section was subscribed 196.4 occasions whereas retail traders bid for 15.2 occasions their allotted quota. The portion put aside for non-institutional traders was subscribed 424.7 occasions. The corporate had set a worth band of ₹1,000 to ₹1,033 per share.

Within the unofficial market gray market, shares of CE Data Methods had been commanding a premium of ₹1,050 as of Monday night. The gray market premium has steadily progressed larger from round ₹700 per week in the past.

CE Data Methods is an information and know-how merchandise and platforms firm. It’s India’s main supplier of geospatial software program, superior digital maps and location-based IoT applied sciences.

Most brokerages have given a subscribe ranking to the IPO attributable to its worthwhile enterprise mannequin and development alternatives. “Regardless of the influence of Covid on key buyer market in FY21, the corporate was in a position to submit income development of round 3% and the margin profile is powerful which might be supported with rising scale going forward,” stated brokerage AngelOne in its pre-IPO be aware.

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