Digital signature certificate provider eMudhra’s initial public offer (IPO) was subscribed 2.72 times on the last day of subscription on Tuesday. 413 crore-IPO received bids for 3,09,02,516 shares against 1,13,64,784 shares on offer.
The share of Qualified Institutional Buyers (QIBs) was subscribed 4.05 times, while the category for Retail Individual Investors (RIIs) was subscribed 2.61 times and non-institutional investors 1.28 times.
Finalization of basis for allotment of shares of eMudra IPO This week is expected to be on Friday, May 27, 2022 and if allotted, the shares will be credited in the demat account of the bidders on May 31. The registrar link for this IPO is Intime India Pvt Ltd, hence the allotment application can be checked on its website here or on BSE website here,
There was a fresh issue to up in the IPO 161 crore and offer for sale (OFS) of 98,35,394 equity shares. The price range for the offer was as follows 243-256 per share. eMudra Limited picked up 124 crores from anchor investors.
As per market observers, eMudra shares are available at a premium (GMP) 2-3 in gray market today. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on Wednesday, June 1, 2022.
The proceeds from the new issue will be used to develop products, to support working capital requirements, purchase equipment and other related costs, for data centers to be set up in India and overseas locations, at eMudra Inc. Investments will be made for general corporate. Objective.
eMudra is the largest licensed certification authority in India with a market share of 37.9 per cent in the Digital Signature Certificate market space in FY 2021, which has grown from 36.5 per cent in FY20.
The company is engaged in the business of providing digital trust services and enterprise solutions to individuals and organizations.