Bengaluru-based eMudra Limited has sought the approval of the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
IPO involves a new issue 200 crore and offer for sale of 8.51 million shares by its existing shareholders and promoters.
The OFS includes up to 3.29 million shares by Venkataraman Srinivasan, up to 3.19 million shares by Tarav Pte, up to 0.51 million shares by Kaushik Srinivasan, up to 0.51 million shares by Lakshmi Kaushik, up to 0.88 million shares by Arvind Srinivasan and maximum shares of Rs. 0.13 million shares by Aishwarya Aravind.
The firm may consider pre-IPO placements up to 39 crore, DRHP said.
IIFL Securities, Yes Securities and Indoor Financial Services are the banks managing the sale.
Digital Signature Certificate Provider Firm will use this 35 crore to repay the debt. As of 15 October, the total borrowings for the firm were 51.22 crores.
the firm will use 40.22 crore for working capital and 46.36 crore for procurement of equipment and funding data centers proposed to be set up in India and abroad.
will use e-currency 15 crores for financing expenditure related to product development and 15.27 crores for investment in E-Mudra Inc. to meet its business development, sales, marketing and other related costs for future growth.
The firm is the largest licensed certification authority in India with a market share of 37.9% in the Digital Signature Certificate market in FY 2021, up from 36.5% in FY20. Its retail customer grew to 1.15 lakh from 58,872 in FY19. In addition, its enterprise customers grew from 249 to 518.
The total income of the company was 132.45 crore in FY 2011 as against 116.45 crore a year ago. net profit for the period 25.36 cr vs. 18.42 crore in the previous year.
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