Shares of eMudhra made positive stock market debut with stock listing on Wednesday 270 each on NSE, plus 5% premium over its IPO issue price 256 per share. Trading in eMudra shares started on BSE 271.
Initial Public Offering (IPO) Digital signature certificate provider eMudhra was subscribed 2.72 times on the last day of subscription. 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.
The initial share sale had a new issue of up to 161 crore and offer for sale of 98,35,394 equity shares. The price range for the offer was as follows 243-256 per share. eMudra Limited picked up 124 crore from anchor investors before its share sale.
The proceeds of the new issue will be used to develop products, develop products, and invest in eMudra Inc. and for general corporate. purpose.
eMudhra is a licensed Certifying Authority in India with a market share of 37.9% in the Digital Signature Certificate market space in the financial year 2021. The company is engaged in the business of providing digital trust services and enterprise solutions to individuals and organizations.