eMudhra IPO opens today — Check out important details related to the IPO
- eMudhra, which is one of the largest certifying authorities, is planning to raise ₹412 crore from the public.
- The IPO is open for subscription from today (May 20) and will conclude on May 24.
- The price band of the issue is fixed at ₹243 - ₹256 per share.
AdvertisementeMudhra is a certifying authority (CA) authorised by the controller of certifying authority (CCA) for issuance of Digital Signature Certificates in India. The company will open its initial public offering (IPO) today, May 20.
The company is looking to raise ₹412 crore through the IPO with a price band of ₹243 - ₹256 per share. The issue comprises fresh shares worth ₹161 crore and an offer for sale up to 98.35 lakh equity shares by existing promoters and shareholders.
The proceeds from the IPO will be used to repay debt, funding working capital, buy equipment for data centers, investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs to growth.
The company is engaged in the business of providing digital trust services and enterprise solutions like individual/organizational certificates, digital signature certificates etc.
The firm has issued more than 50 million digital signature certificates since inception. It caters to all kinds of subscribers who use digital signature certificates for income tax return filing, filings with the Ministry of Corporate Affairs (Registrar of Companies), tenders, foreign trade, banking, railways and many other needs.
Investor demand for the IPO may be impacted as the shares of eMudhra are commanding a discount of ₹10 per share in the grey market.
eMudhra has gained a market share of 37.9% in the digital signature certificates market in FY21, which grew 36.5% per cent in FY20. Some of its customers from the corporate sector include Infosys, Tata Consultancy Services, Hindalco Industries, Larsen & Toubro Infotech JSW Steel, Bharti AXA Life Insurance.
Here are some of the important dates related to the IPO:
|Price band||₹243 to ₹256|
|IPO open date||May 20|
|IPO close date||May 24|
|Allotment date||May 27|
|Initiation of refunds||May 30|
|Credit of shares to demat account||May 31|
|IPO listing date||June 1|
It offers digital services products to various government agencies and thereby are a key player in enabling paperless transactions as part of Digital India.
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