6 January 2022 Joseph Wolpin Capital Markets - Equity

Linklaters advises on MapmyIndia’s INR 10.4bn IPO

Linklaters advised the book running lead managers on the initial public offering (IPO) of CE Info Systems Ltd, the parent company of India’s leading digital mapping company MapmyIndia, on both the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). The IPO represented the first listing in the digital mapping space in India.

The IPO was a pure primary offering, receiving oversubscription from institutional and retail investors, raising INR 10.4bn (approx. US$140m). The proceeds will be used to expand MapmyIndia’s business, both in India and internationally, by integrating maps for more than 200 countries into its software platform to offer global solutions to original-equipment makers for next generation mobility vehicles, application developers, businesses across sectors looking for geospatial data analytics, workforce automation, fleet management and logistics optimisation.

The book running lead managers on the transaction were Axis Capital Limited, JM Financial Limited, Kotak Mahindra Capital Company Ltd and DAM Capital Advisors Ltd.

The Linklaters team was led by Head of South and Southeast Asia Capital Markets partner Amit Singh, supported by counsel Joseph Wolpin.

Capital Markets partner Amit Singh, commented:

“We are delighted to have assisted MapmyIndia in further strengthening its position as a market leader in this niche space of digital maps, geospatial software and location based IoT. As the digital experience continues to be the focus for apps, we look forward to seeing MapmyIndia tap into potential markets, including the automated driving sector as India strives to be future ready.”

MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. MapymyIndia serves industry leaders across tech, automotive and corporate sectors, and government authorities.

Linklaters has supported several new-age tech unicorns in their IPO journeys, focussing on India and Southeast Asia. The team has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to help clients at all stages of growth maximise opportunities in this increasingly interconnected and dynamic region.