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IPO Note C.E. Info Systems Ltd
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    C.E. Info systems limited IPO (MapmyIndia IPO) Company Profile: –

    C.E. Info Systems Limited (also known as MapmyIndia) provide various products, platforms, application programming interfaces (“APIs”), Software Development Kits (“SDK”) and solutions across a range of digital map data, software and IoT for the Indian market under the “MapmyIndia” brand, and for the international market under the “Mappls” brand. They offer digital maps as a service (“MaaS”), Platform as a service (“PaaS”) and Software as a service (“SaaS”). They are India’s leading provider of geospatial software, advanced digital maps, and location-based IoT technologies. Their digital maps cover 62.9 lakh kms of roads in India, representing 98.50% of India’s road network. Their digital map data provides information of 7,933 towns, 6,37,472 villages, 1.78 Crore places across many categories such as restaurants, malls, hotels, police stations, EV charging stations etc., and 1.45 Crore house or building addresses.

    C.E. Info systems limited IPO (MapmyIndia IPO) Details –

                                                                                        Issue Details
    Objects of the issue  ·To get the benefit of listed company and enhance company’s brand value. 
    Issue Size Total issue Size -Rs. 1040 Cr.

    Offer for Sale – Rs. 1040 Cr.

    Face value Rs.2.00 Per Equity Share
    Issue Price Rs. 1000 – Rs. 1033
    Bid Lot 14 shares
    Listing at  BSE, NSE
    Issue Opens: 9th  Dec, 2021 – 13th  Dec, 2021
    QIB 50% of Net Issue Offer
    Retail 35% of Net Issue Offer
    NIB 15% of Net Issue Offer

                                           C.E. Info systems limited IPO (MapmyIndia IPO)

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    Check C.E. Info systems limited IPO (MapmyIndia IPO) Allotment Status

    Go C.E. Info systems limited IPO (MapmyIndia IPO) allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.

    One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-

    1. To C.E. Info systems limited IPO (MapmyIndia IPO) Allotment Status
    2. Go to Application Status
    3. Select IPO as C.E. Info systems limited IPO (MapmyIndia IPO)
    4. Enter your PAN Number or Application Id or DP Client Id.

     

    C.E. Info systems limited IPO (MapmyIndia IPO)

    Application Form

    C.E. Info systems limited IPO (MapmyIndia IPO) Financial Performance:

    MAPMYINDIA-Financia- Performance

    C.E. Info systems limited IPO (MapmyIndia IPO) Shareholding Pattern:

    Shareholding Pattern Pre- Issue Post Issue
    Promoters & Promoter Group 61.71% 53.73%
    Public  38.29% 46.27%
    Source: RHP, EWL Research

    C.E. Info systems limited IPO (MapmyIndia IPO) Strengths:

    • Market Leader in India to offer SaaS, PaaS and MaaS to its B2B and B2B2C enterprise customers;

    • Marquee customers across sectors with strong relationships and capability to up-sell and cross-sell such as HDFC Bank, Airtel, Hyundai, MG Motor, PhonePe, Flipkart, Goods and Service Tax Network (“GSTN”), Mahindra, TVS, Maruti Suzuki, Apple ( India) etc.

    • Company consistently showing strong financial numbers and have profitable business model.

    • Backed by Marquee Investors such as PhonePe, Qualcomm, and Zenrin. However, Qualcomm and Zenrin are selling 60% and 58% of their total stake respectively.

    C.E. Info systems limited IPO (MapmyIndia IPO) Key Highlights:

    • Revenue has increased with a CAGR of 8.50% from FY19 to FY21.

    • Profit of the company has increased with a CAGR of 33.05% from FY19 to FY21. EBITDA margin has improved drastically from 18.9% to 33.7% in last three year due to better cost management.

    • In FY21 company has cash flow from operation of ₹ 83.28 crore and free cash flow of ₹ 80.92.

    • Cash Flow from Operation to EBITDA stands at 0.40 as on 30th Sept, 2021 vs. 1.57 as on 31st March, 2021.

    • In FY 21, Company has Return on Net Worth of 16.60% vs. 7.79% in FY 20.

    C.E. Info systems limited IPO (MapmyIndia IPO) Risk Factors:

    • A failure or disruption in digital map database or system failures may result adverse impact on business and its operations.

    • Since this is an Offer for Sale so the fund raised cannot be utilized for the growth of the company.

    C.E. Info systems limited IPO (MapmyIndia IPO) Outlook:

    Mapmyindia is market leader in B2B and B2B2C segment in India with a comprehensive suite of SaaS, PaaS and MaaS offerings. With the adoption of company’s solution and product by new age companies and start-up companies across consumer tech, last-mile delivery, shared mobility and e-commerce is helping them to scale rapidly. The total Indian addressable market of digital maps and location-based intelligence services is expected to grow to USD 7.74 billion (Rs 47,490 Crore) in 2025 at around 15.5% CAGR from 2019 to 2025. At higher band price, Company is available at a P/E of 91x on FY21 which is quite high. Considering the asset light business model, robust financials and strong clientele, we recommend subscribe to the IPO with long term view.

    Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

    Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
    For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
    Disclosure Appendix
    Analyst Certification (For Reports)
    Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
    The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
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    Country Specific Disclosures
    India – For private circulation only, not for sale.
    Legal Entities Disclosures
    Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
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    (a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
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      C.E. Info systems limited IPO (MapmyIndia IPO) FAQ

       

       

      Ans. C.E. Info systems limited IPO (MapmyIndia IPO) will comprise fresh share issue and new offer share issue. The company aims to go public to accelerate its growth and expansion plan.

      Ans. The company will open for subscription on 09 December 2021.

      Ans. The minimum lot size that investors can subscribe to is 14 shares.

      Ans. The C.E. Info systems limited IPO (MapmyIndia IPO) listing date is 21 December 2021.

      Ans. The minimum lot size for this upcoming IPO is 14 shares.

      Ans. Link Intime India Pvt Ltd will be the registrar for this upcoming IPO.

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      SEBI : https://www.scores.gov.in/scores/complaintRegister.html