The family-run digital mapping and geospatial data company built a space for itself. Now, with protectionist regulations buoying it, it’s ready to go public
The latest tech company to head for an initial public offering this year was a bit of an unexpected one. Gurugram-based MapMyIndia—a quarter-century-old firm that has quietly built a mapping and geospatial data business—last week filed its draft red herring prospectus with the markets regulator.
The top-line figures at Rs 152 crore in revenue from operations for the fiscal year ended 31 March 2021 don't strike as particularly impressive and are largely the same as the previous year's (the pandemic is largely to blame). The net profit of Rs 59.4 crore, however, stands out, more than double the Rs 23.2 …
Nikhil used to a writer at The Morning Context. He is a graduate of the Asian College of Journalism, and has worked with several publications including the Deccan Herald, The Hindu and The Indian Express. He has reported on a wide range of topics, from technology to automotives to books.
nikhil@mailtmc.com