Digital Signature Certifier, eMudra Limited, is all set to launch its Initial Public Offering (IPO) on May 20. The issue will be available for bidding till May 24.
The offer for anchor investors will be allowed on 19 May 2022.
IPO Price includes latest issues 161 crore and Offer for Sale (OFS) of 9,835,394 equity shares.
The shareholders participating in the Offer for Sale are – Venkataraman Srinivasan will sell 3.29 million shares, Tarav Pte Ltd will sell 4.52 million shares, Kaushik Srinivasan will sell 5.11 lakh shares, Lakshmi Kaushik will sell 5.04 lakh shares, Arvind Srinivasan will sell 8.82 lakh shares. shares, and Aishwarya Aravind sold over 1.33 lakh shares.
a price band of 243-256 per equity share with a face value of Rs. 5 each.
50% of the total IPO size is reserved for qualified institutional buyers, 15% is earmarked for non-institutional investors, and 35% is allocated to retail individual investors.
IIFL Securities, Yes Securities and Indoient Financial Services are acting as Book Running Lead Managers (BRLMs) for the IPO.
The proceeds from the issue will be used for repayment of all or part of certain borrowings – in whole or in part; working capital requirements; financing of equipment procurement and other related costs for data centers proposed to be set up in India and overseas locations; financing expenditure related to product development; Investing in eMudra Inc to cover your business development, sales, marketing and other related costs for future growth; And finally on to general corporate objectives.
eMudhra is the largest licensed certification authority in India with a market share of 37.9% in the Digital Signature Certificate market space in FY 2021 and has grown from 36.5% in FY 2020.
The company is engaged in the business of providing Digital Trust Services and Enterprise Solutions to individuals and organizations operating in various industries.