MapmyIndia Targets Valuation Of Up To Rs 6,000 Crore In IPO: Report

MapmyIndia, which admiral Apple maps in India, will book abstract affidavit for an antecedent accessible alms account Rs 1,000-1,200 crore this week, a antecedent with absolute ability of the amount said.

The agenda map maker, which additionally admiral the aeronautics arrangement in MG Motor and BMW cars, is gluttonous a appraisal of Rs 5,000-6,000 crore, according to the source, who did not appetite to be called as the IPO capacity were private.

The New Delhi-based company's IPO will, however, abide alone of an action for sale, acceptance aboriginal investors an exit, the antecedent said. MapmyIndia's aboriginal investors accommodate Qualcomm Inc, Walmart Inc-backed PhonePe and Japanese mapmaker Zenrin Co Ltd.

Earlier this year, government airy restrictions on mapping by acceptance bounded firms to collect, generate, abundance and aftermath geo-spatial abstracts including maps. The government expects the geo-spatial articles and solutions bazaar to be account $13.6 billion by 2030.

The alms comes at a time Indian companies are hasty into basic markets, with equities at almanac highs as the abridgement recovers from the pandemic. Food-delivery close Zomato Ltd saw able assets in its bazaar admission aftermost month.

MapmyIndia, additionally accepted as CE Info Systems, will not get any new gain from the alms and retail investors will get 35 per cent of the IPO size, the antecedent said.

Bloomberg News aboriginal appear of the company's IPO affairs over the weekend.

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