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MapMyIndia to file for Rs 1,200 crore IPO

New Delhi-based digital mapping platform MapMyIndia is reportedly planning to raise  Rs 1,200 crore through Initial Public Offering (IPO).

According to the reports, “It is likely to file its draft prospects with SEBI in coming weeks for the IPO of Rs 1,000-1,200 crore at a valuation of about Rs 5,000-6000 crore.”

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Founded by Rakesh and Rashmi Verma in 1995, MapMyIndia (MMI) is a digital mapping company that offers its technology and geospatial information to Government, automakers, and others including Apple and Amazon’s Alexa.

“MapMyIndia has also appointed Kotak Mahindra Capital, Axis Capital, and JM Financial to manage the IPO,” the report added.

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