eMudhra IPO: Despite volatile markets, India’s IPO rain is in full swing again, with three public offers opening this week. Digital signature certificate provider eMudhra Ltd is set to open its initial public offering (IPO) later this week. The eMudhra IPO will open on May 20, Friday, and will close on May 24, Tuesday after three days of bidding. eMudhra Ltd is the largest licensed certifying authority in India. It is involved in the business of providing digital trust services and enterprise solutions to individuals and organisations functioning in various industries.
Here is everything you need to know about the eMudhra IPO:
eMudhra IPO Dates: eMudhra IPO will open on May 20, Friday, and will close on May 24, Tuesday after a bidding window of three days. Anchor investment will open on May 19, Thursday. The eMudhra IPO listing date is tentatively on June 1, 2022.
eMudhra IPO Size: At the upper end of the price band, the eMudhra IPO is likely to fetch Rs 412.79 crore. This is including a fresh issue of Rs 161 crore, and an Offer for Sale of 98.35 lakh shares by promoters and existing shareholders.
eMudhra IPO Price Band: eMudhra Ltd on Monday said it has fixed a price band of Rs 243 to Rs 256 per equity share for its Rs 413-crore Initial Public Offering (IPO). As part of the OFS, promoters — Venkatraman Srinivasan and Taarav Pte Ltd — will offload 32.89 lakh equity and 45.16 lakh equity shares respectively. In addition, Kaushik Srinivasan will divest 5.1 lakh equity shares, Lakshmi Kaushik 5.04 lakh equity shares, Arvind Srinivasan, 8.81 lakh equity shares and Aishwarya Arvind 1.33 lakh equity shares.
eMudhra IPO Lot Size: Bidders will be able to bid for a minimum 58 shares for one lot, and in multiples of 15 thereof. This means that investors have to pay a minimum of Rs 14,848 for one lot at the upper end of the price band.
eMudhra IPO GMP Today: The eMudhra IPO was not trading at the grey marjet on May 17, and therefore there was no update on the eMudhra IPO GMP today.
eMudhra IPO Quota Reservation: The company has reserved half of the selling stake for qualified institutional buyers (QIB). Retail individual investors will be able to bid for 35 per cent of the shares up for sale, while 15 per cent of the shares have been reserved for non institutional buyers.
eMudhra IPO Objectives: eMudhra will use the proceeds from the fresh issue to repay its debt, support working capital requirements, purchase equipment and pay for other related costs for data centres proposed to be set up in India and overseas locations. The amount will also be used to develop products, investment in eMudhra INC and for general corporate purposes.
eMudhra Ltd Financials: eMudhra Ltd boasts of a market share of 37.9 per cent in the digital signature certificates market space in financial year 2021 having grown from 36.5 per cent in Financial Year 2020. Some of its customers include Infosys, Tata Consultancy Services, Mashreq Bank, Baud Telecom Company, Cholamandalam MS General Insurance Company and Bharti AXA Life Insurance Company. The eMudhra IPO is expected to list on bourses in June.
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