Investors bid for 1.09 billion shares of MapmyIndia, also known as CE Info Systems Ltd, compared with the 7.04 million shares on offer, stock exchange data as of 1130 GMT on Monday showed.

The digital map maker has already raised 3.12 billion rupees at the upper end of the 1,000-1,033 rupee price range, from institutional investors including Fidelity, Nomura and Goldman Sachs.

MapmyIndia's IPO, which closed on Monday and comprises solely of an offer for sale by shareholders, aimed to fetch 10.40 billion rupees at the upper end of the price band, targeting a valuation of 55 billion rupees.

Shares are expected to start trading on the bourses around Dec. 21.

"We like MapmyIndia given its leadership in digital mapping, strong entry barriers, robust profitable data and tech platform along with consistent financials," Motilal Oswal Financial Services said in a pre-IPO note, adding the company was "rightly placed" to tap the high growth digital mapping market.

MapmyIndia, which counts Qualcomm and Walmart Inc-backed PhonePe among its early investors, provides services to over 5,000 clients including Mercedes Benz, Maruti Suzuki and Audi.

The New Delhi-based company also partners with government agencies like the Indian Space Research Organization and the Indian Meteorological Department, and is seen benefiting from the country relaxing restrictions on mapping.

The public offering comes close on the heels of bumper subscription and trading debuts by smaller companies while offerings from larger and more popular names like Paytm have failed to attract similar interest.

($1 = 75.7540 Indian rupees)

(Reporting by Rama Venkat and Chandini Monnappa in Bengaluru; Editing by Sriraj Kalluvila)