MapMyIndia Filed DRHP with SEBI for an IPO of Around $175 Million

MapMyIndia Filed DRHP with SEBI for an IPO of Around $175 Million

According to recent news by the Money Control website, an Indian technology company that builds digital map data has filed its draft red herring prospectus (DRHP) documents with SEBI on August 31, 2021. According to DRHP, the initial public offering (IPO) will see an offer-for-sale up to 7,547,959 equity shares by selling shareholders.

Mapmy India is backed by the likes of Qualcomm, PhonePe, and Japanese map maker Zenrin. The selling shareholders include Rashmi Verma, and investors Qualcomm and Japanese map maker Zenrin. However, the company did not disclose the details of the IPO.

PhonePe holds 36.11 percent of equity shares on a fully diluted basis and Zenrin invests 17.82 percent. Founders Rashmi and Rakesh Verma hold 17.66 percent and 14.11 percent in fully diluted stories and Qualcomm’s at 8.48 percent.

According to the DRHP, the total Indian addressable market of digital maps and location-based intelligence services is expected to grow to $7.74 billion in 2025 at the CAGR of 15.5 percent CAGR from 2019 to 2025.

The company registered Rs 192 crore in revenue for the year ending March 31, 2021, up from Rs 163.5 crore the previous year in FY20. The company’s profits doubled in FY21 to Rs 59 crore, from Rs 23 crore in FY20.

MapMyIndia was founded in 1995. The company had built digital maps across cities, towns, and villages across India, covering more than 99% of India’s roads. The AI-powered, 4D, HD, IR, multi-lingual, hyperlocal digital map twin digitally and geospatially represents the dynamically changing real-world in near real-time. The company also powers, maps of Apple and Amazon’s Alexa.

MapMyIndia also has a consumer-facing ‘MapmyIndia Move’ app, which is a super app for maps, navigation, tracking, safety, mobility, and other features, on the Android and iOS platforms, as well as an internet mapping portal,, and MapmyIndia Move IoT gadgets, which include GPS tracking, safety, and navigation features. MapMyindia has a suite of APIs and solutions to consumer tech companies and enterprises looking to digitally transform based on our complete range of digital maps, geospatial software, and location-based IoT.

Also Read –

MapmyIndia builds first Digital Map Twin of Real World

Categories: Business
Tags: IPO, MapmyIndia, SEBI

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