Digital signature certificate provider eMudhra Ltd’s initial public offering (IPO) will open for public subscription on Friday, May 20, 2022. and conclude on May 24, while the bidding for anchor investors will open on May 19. The firm has fixed a price band of ₹243-256 a share for its issue.
The company has cut the size of the fresh issue from ₹200 crore to ₹161 crore. Besides, there will be an Offer-For-Sale (OFS) of 98.35 lakh shares by promoters and existing shareholders. At the upper end of the price band, the public issue is expected to fetch ₹413 crore through IPO. Shares of the company are expected to list on stock exchanges BSE and NSE on June 1, 2022.
Proceeds from the fresh issue will be utilised to repay debt, support working capital requirements, purchase equipment and pay for other related costs for data centre proposed to be set-up in India and overseas locations, develop products, investment in eMudhra INC and for general corporate purposes.
eMudhra is a leading licensed certifying authority in India with a market share of 37.9% in the digital signature certificates market space in financial year 2021 having grown from 36.5% in Financial Year 2020.
The company is engaged in the business of providing digital trust services and enterprise solutions to individuals and organisations functioning in various industries.
It is a ‘one stop shop’ player in secure digital transformation and provides a wide spectrum of services and solutions from issuance of certificates as a certifying authority to offering identity, authentication and signing solutions.
IIFL Securities, Yes Securities and Indorient Financial Services are the book running lead managers for the issue. Link Intime India Private Ltd is the registrar of the issue.