eMudhra IPO was subscribed 2.72 times on the last day of issue
New Delhi:
Digital signature certificate provider eMudhra’s initial public offer (IPO) was subscribed 2.72 times on the last day of subscription on Tuesday.
Bids were received for 3,09,02,516 shares against 1,13,64,784 shares in the Rs 412.79 crore IPO, according to NSE data.
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.
The IPO had an offer for fresh issue of up to Rs 161 crore and sale of 98,35,394 equity shares.
The offer price range was Rs 243-256 per share.
On Thursday, eMudra Ltd raised Rs 124 crore from anchor investors.
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.
IIFL Securities, Yes Securities (India) and Indoor Financial Services were the managers of the offer.
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.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)