The company has fixed the price band for the stake sale at Rs 1,000-1,033 apiece and investors can bid for a minimum of 14 shares and then in multiples thereof.
The majority of the brokerage houses have suggested investors subscribe to the issue, thanks to its high growth potential, conservative valuations, robust client base, and entry barrier to the business.
Founded in 1992, MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India.
While consumer-based apps like Google Maps are free, API and enterprise-based solutions are paid services and the company has an edge due to its maps being more accurate compared to peers, said Reliance Capital in its IPO note.
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