eMudhra IPO
eMudhra IPO: The IPO of eMudhra Limited, which provides services to companies like Infosys and Tata Consultancy Services, will launch on May 20. The company wants to raise Rs 413 crore from the market through this IPO. Investors will be able to bid for eMudhra IPO till May 24. This IPO will open for anchor investors on May 19. The share allotment is expected to happen on May 27 and the listing will take place on June 1.
eMudhra has fixed the price band of its IPO. The company has fixed a share price of Rs 243-256. Under the issue, new shares worth Rs 161 crore will be issued. In addition, 98.35 lakh shares will be sold under offer-for-sale (OFS) by the promoters and existing shareholders. IIFL Securities, Yes Securities, and Indoor Financial Services are the Book Running Lead Managers of eMudhra IPO.
14,848 will have to be invested
eMudhra IPO: According to a report in Financial Express, half of the issue of eMudhra IPO is reserved for qualified institutional investors. 35 percent is reserved for retail investors and 15 percent for non-institution investors. The lot size of the IPO is 58 shares. According to the upper price of the price band, investors will have to invest at least Rs 14,848 in this.
According to the documents submitted to SEBI, the company will use the proceeds of this IPO to repay debt, buy equipment, develop products for data centers to be set up in India and abroad, invest in eMudhra INC, and for general corporate purposes.
37.9% market share
eMudhra IPO: eMudhra is a leading provider of Digital Signature Certificate related services. Its total market share was 37.9 percent in 2021. In this way, eMudhra is the largest license certifying authority in India. The company’s market share was 36.5 percent in the financial year 2020. The company provides digital trust services and enterprise solutions to individuals and organizations.
It is a ‘one-stop shop’ player in secure digital transformation. From Certificate Issuance to Identity, Authentication, and Signing solutions, it provides services to Infosys, Tata Consultancy Services, Mashreq Bank, Bond Telecom Company, Cholamandalam MS General Insurance Company, Bharti AXA Life Insurance Company, etc.
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