The initial public offering (IPO) of digital signature certificate provider eMudra was open for public subscription on Friday and ended on Tuesday, May 24, 2022. The firm has fixed its price band. 243-256 One share for its issue. it has raised 124 crores from anchor investors prior to its issue.
Till 2 pm on the last day of bidding, eMudhra IPO The BSE data shows that the category of retail investors is fully subscribed 1.47x with book 2.21x, NII 0.37x, QIB 0.96x.
The company has cut the size of the fresh issue 200 crore 161 crores. In addition, there will be an offer-for-sale (OFS) of 98.35 lakh shares by the promoters and existing shareholders.
After a premium over the past few sessions, there has been no GMP activity for eMudra stocks in the gray market today. The shares of the company are expected to be listed on the stock exchanges BSE and NSE on June 1, 2022.
There is a fresh issue in the IPO 161 crore and offer for sale of 98,35,394 equity shares. it has a price range 243-256 per share. On Thursday, eMudra Limited raised 124 crores from anchor investors. At the upper end of the price band, IPO is expected 413 crores.
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.
“The scale of operations is relatively modest and the digital security and paperless transformation market is highly competitive. At the upper end of the price band, the post issue FY22 annualized P/E works out to 49.0x, which we believe is factoring positive. Therefore, we recommend a neutral rating on this issue,” said brokerage Angel One.
eMudhra is the largest licensed certification authority in India and is engaged in the business of providing digital trust services and enterprise solutions to individuals and organizations.