Eye on India's IPO map: MapMyIndia plans to go public, raise Rs 1,200 crore

India's first home-grown mapping company is looking to list in the public market at a Rs 6,000-crore valuation

India’s first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week.
 
While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
 
The move comes close on the heels of the government