eMudhra IPO to open on 20 May for public subscription. Details here

Market


Digital signature certifier, eMudhra Limited, is set to launch its initial public offering (IPO) on May 20. The issue will be available for bidding till May 24.

The offer for anchor investors will be allowed on May 19, 2022.

The IPO comprises fresh issues worth 161 crore and offer for sale up (OFS) to 9,835,394 equity shares.

Shareholders participating in the offer for sale are – Venkatraman Srinivasan to offload 3.29 million shares, Taarav Pte Limited to sell 4.52 million shares, Kaushik Srinivasan to divest 5.11 lakh shares, Lakshmi Kaushik to offload 5.04 lakh shares, Arvind Srinivasan to carry sales of 8.82 lakh shares, and Aishwarya Arvind to offload over 1.33 lakh shares.

A price band of 243-256 per equity share has been set with a face value of 5 each.

Of the total IPO size, 50% of the portion is reserved for qualified institutional buyers, while 15% is kept for non-institutional investors, and 35% is allocated to retail individual investors.

IIFL Securities, Yes Securities, and Indorient Financial Services are acting as the book running lead managers (BRLM) for the IPO.

The proceeds from the issue will be utilised for – repayment in full or in part of all or certain borrowings; working capital requirements; purchase of equipment and funding of other related costs for data centers proposed to be set up in India and overseas locations; funding of expenditure relating to product development; investment in eMudhra INC to augment its business development, sales, marketing and other related costs for future growth; and finally on general corporate purposes.

eMudhra is the largest licensed Certifying Authority in India with a market share of 37.9% in the digital signature certificates market space in Financial Year 2021 and has 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.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments