Report
EUR 88.49
For Business Accounts Only
CE Info Systems is India’s leading provider of advanced digital maps, geospatial software and location-based IoT Technologies, as per Frost & Sullivan (F&S). As of 31 Mar 21, its digital maps covered 6.29m km of roads in India, and have serviced over 2,000 enterprise customers since its inception. Its services include digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). In FY21, it had over 500 customers on its MaaS, SaaS and PaaS platforms.
Unlike most Indian tech companies that have listed this year, CE Info Systems is profitable. While admittedly the valuation comes at a premium when compared to its international peers, investors in India seem to be willing to stomach higher valuations for faster growing firms. As the listing is the first of its kind in India, in our view, the best way to value the firm would be to compare it against its India tech peers which, based on our assumptions, provide an upside potential of 89.3-107.6%.
CE Info Systems (MapmyIndia) IPO
CE Info Systems (MapmyIndia) is looking to raise up to US$138m in its India IPO.CE Info Systems is India’s leading provider of advanced digital maps, geospatial software and location-based IoT Technologies, as per Frost & Sullivan (F&S). As of 31 Mar 21, its digital maps covered 6.29m km of roads in India, and have serviced over 2,000 enterprise customers since its inception. Its services include digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). In FY21, it had over 500 customers on its MaaS, SaaS and PaaS platforms.
Unlike most Indian tech companies that have listed this year, CE Info Systems is profitable. While admittedly the valuation comes at a premium when compared to its international peers, investors in India seem to be willing to stomach higher valuations for faster growing firms. As the listing is the first of its kind in India, in our view, the best way to value the firm would be to compare it against its India tech peers which, based on our assumptions, provide an upside potential of 89.3-107.6%.
Underlying
CE Info Systems (MapmyIndia)
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
Other Reports on these Companies
Other Reports from Aequitas Research
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.