Emudhra IPO: The IPO of eMudhra Limited, a company working in the field of issuing digital signatures, opened on 20 May. It will be closed on Tuesday 24th May. eMudra is doing business as the country’s largest issuer of Digital Signature Certificates. For this it has got its own license.
The company plans to raise Rs 413 crore through IPO. Out of this, fresh issues worth Rs 161 crore are being issued. While there is an offer for sale (OFS) of Rs 252 crore. Under this, shares have been put up for sale on behalf of the existing shareholders and promoters of the company. Before investing money in this IPO, investors should keep some things in mind.
Here will be the lot size
Its price band has been fixed between Rs 243-256, whose face value will be Rs 5. Investors can bid for the issue by lot. There are 58 shares in a lot. To bid a lot, investors need to invest a minimum of Rs 14,848. Investors will be able to bid for a maximum of 13 lots.
The allotment of shares will take place on May 27. Whereas on June 1, the company’s shares can be listed in the stock exchanges. eMudra has reserved half of its public issue i.e. 50 per cent for Qualified Institutional Buyers (QIBs). At the same time, 35 percent share is reserved for retail investors and 15 percent for non-institutional investors (NIIs).
38% market capture
The company was established on June 16, 2008. It is a wholly owned subsidiary of IT company 3i Infotech (3i Infotech). It held 37.9 share of the Digital Signature Certificates market till FY21. This company provides two types of services. This includes Digital Trust Services and Enterprise Solutions. It also provides services related to individual/organization certificates, multi-factor authentication, mobile app security, website security testing, IT policy assessment, etc. So far, more than 5 crore digital signatures have been issued.
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