MapmyIndia targets valuation of up to $817 million with IPO filing this week - source

FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, February 28, 2020. REUTERS/Hemanshi Kamani

BENGALURU (Reuters) - MapmyIndia, which powers Apple maps in India, will file draft papers for an initial public offering worth 10-12 billion rupees ($136-$163 million) this week, a source with direct knowledge of the matter said.

The digital map maker, which also powers the navigation system in MG Motor and BMW cars in India, is seeking a valuation of 50-60 billion rupees ($681-$817 million), according to the source, who did not want to be named as the IPO details were private.