eMudhra Limited, a digital signature certifier, is planning an initial public offering (IPO) on May 20, 2022. Bidding for the issue will be open until May 24, 2022. eMudhra IPO will end on May 24, 2022, according to the Red Herring Prospectus (RHP), and the bidding for anchor investors will begin on May 19, 2022. In the financial year 2021, eMudhra is the largest licenced certifying authority in India, with a market share of 37.9% in the digital signature certifications industry.
eMudhra IPO Details
|IPO Opening Date||May 20, 2022|
|IPO Closing Date||May 24, 2022|
|Price Band||Rs. 243 to Rs. 256 per share|
|Lot Size||58 Shares|
|Issue Size (Rs. Cr.)||(To be announced) shares of Rs.5 (aggregating up to Rs. 412.79 Cr)|
|Fresh Issue||(To be announced) shares of Rs.5 (aggregating up to Rs.161.00 Cr)|
|Offer for Sale||9,835,394 shares of Rs.5 (aggregating up to Rs.251.79 Cr)|
|Face Value||Rs. 5 per equity share|
|Issue Type||Book Built Issue IPO|
|Exchange Board||BSE, NSE|
|QIB Shares Offered||Not more than 50% of the Net Offer|
|Retail Shares Offered||Not less than 35% of the Net Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Net Offer|
|Basis of Allotment Date||May 27, 2022|
|Initiation of Refunds||May 30, 2022|
|Credit of Shares to Demat Account||May 31, 2022|
|eMudhra IPO Listing Date||Jun 1, 2022|
eMudhra IPO Date
The company previously stated that its initial public offering (IPO) will begin on May 20 and end on May 24. Bidding for the anchor investor will begin on May 19.
eMudhra IPO Price Band
The Bengaluru-based eMudhra Ltd, India’s largest licenced certifying authority for digital signatures, has set a price range of Rs 243-256 per share for its initial public offering, valuing the business at Rs 2,000 crore at the high end of the range.
eMudhra IPO Lot Size
Bids for eMudhra IPO must be for a minimum of 58 equity shares and multiples of 58 equity shares after that. Qualified Institutional Buyers (QIBs) will receive up to 50% of the net offer, while Non-Institutional Investors (NIIs) will receive 15% and regular investors will receive the remaining 35%.
eMudhra IPO Issue Size
The size of the new issue has been reduced from Rs 200 crore to Rs 161 crore. This follows the Bengaluru-based company’s pre-IPO placement of 16,03,617 shares for Rs 39 crore. 50% of the overall IPO size is set aside for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail individual investors.
eMudhra IPO Allotment Date and Listing Date
The IPO for eMudhra will open on 24 May 2022, and IPO close date is 24 May 2022. The eMudhra IPO Allotment Date is 27 May 2022. This IPO will take 4 days to list. The IPO Listing Date of eMudhra IPO is 1 June 2022.
About eMudhra Limited IPO
The largest licenced Certifying Authority in India is eMudhra Limited (“CA”). Digital Trust Services and Enterprise Solutions are the two divisions of the company’s operations. Individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, IT policy assessment, and other services are provided by eMudhra Limited.
It is the only Indian company to be directly recognised by renowned browsers and document processing software companies such as Microsoft, Mozilla, Apple, and Adobe, allowing it to sell digital identities to individuals and organisations around the world and issue SSL/TLS certificates for website authentication.
Through its network of 88,457 channel partners across India, the organisation has issued over 50 million digital signature certifications. The company serves 36,233 retail clients and 563 businesses as of September 30, 2021.
The top 10 banks, 6 top automotive businesses, and 19 top companies among the top 500 ranked companies in India by Economic Times in Financial Year 2020 are using eMudhra’s Enterprise Solutions as of September 30, 2021.
Promoters of eMudhra IPO
The company’s promoters are Venkatraman Srinivasan and Taarav Pte. Limited.