eMudhra Limited
Price Band: ₹ 243 – ₹ 256 per equity share.
- Bid/Offer Opens: Friday, May 20, 2022
- Bid/Offer Closes: Tuesday, May 24, 2022
- Bid Lot: 58 Equity Shares
- Pre-IPO placement of 1,603,617 Equity Shares for a cash price of ₹ 243.20 per Equity Share for an aggregate amount of ₹ 39 crore to Baring Private Equity India AIF 2, Acacia Banyan Partners, Motilal Oswal Equity Opportunities Fund Series III, Negen Capital Services Private Limited, Value Wise Consultancy Private Limited, Jagadeesan Kumar, and Krishna Kumar.
- Approx. IPO Size: ₹ 412.79 crore (Fresh ₹ 161 crore + OFS ₹251.79 crore)
- Fresh Issue ₹ 161 crore
- OFS: 9,835,394 shares
- Anchor Date: Thursday, May 19, 2022
- QIB allocation: not more than 50%
- NII allocation: not less than 15%
- RIB allocation: not less than 35%
- IIFL Securities Ltd, Yes Securities (India) Ltd and Indorient Financial Services Ltd are the Book Running Lead Managers to the issue.
MUMBAI, 16 MAY, 2022 (GPN): Digital Security firm eMudhra Limited (“The Company”) has fixed the price band at ₹ 243 to ₹ 256 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on May 20, 2022, for subscription and close on May 24, 2022. Investors can bid for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter.
The IPO consists of a fresh issue of equity shares aggregating to ₹ 161 crore and an offer for sale (OFS) of up to 9,835,394 equity shares.
The company has cut the size of the fresh issue from ₹200 crore to ₹161 crore. Besides, there will be an Offer-For-Sale (OFS) of 98.35 lakh shares by promoters and existing shareholders. At the upper end of the price band, the public issue is expected to fetch ₹413 crore through the IPO.
Shares of the company are expected to list on stock exchanges BSE and NSE on June 1, 2022.
Proceeds from the fresh issue will be utilised to repay debt, support working capital requirements, purchase equipment and pay for other related costs for data centre proposed to be set-up in India and overseas locations, develop products, investment in eMudhra INC and for general corporate purposes.
As part of the OFS, promoters Venkatraman Srinivasan and Taarav Pte Ltd will offload 32.89 lakh equity and 45.16 lakh equity shares respectively.
In addition, Kaushik Srinivasan will divest 5.1 lakh equity shares, Lakshmi Kaushik 5.04 lakh equity shares, Arvind Srinivasan, 8.81 lakh equity shares and Aishwarya Arvind 1.33 lakh equity shares.
eMudhra is the largest licensed Certifying Authority (“Certifying Authority” or “CA”) in India with a market share of 37.9% in the digital signature certificates market space in FY 2021 having grown from 36.5% in Financial Year 2020, as per the Frost & Sullivan Report. It is a one stop shop player in secure digital transformation.
Since inception it has issued over 50 million digital signature certificates catering to 1.43 Lakh retail customers as of December 31, 2021, through its 91,259 channel partners for Digital Trust Services spread across various States and Union Territories in India, and out of its 539 system integrator partners, 267 were present in India and balance present internationally across United States of America, Europe, Middle East and Africa and Asia Pacific, where it provides its solutions and services.
It also offers services and digital products to various government agencies and state governments and thereby are a key player in enabling paperless transactions as part of Digital India. Some of its customers include Infosys Limited, Tata Consultancy Services Limited, Mashreq Bank, Baud Telecom Company, Cholamandalam MS General Insurance Company Limited, Bharti AXA Life Insurance Company Limited., operating in various industries such as banking, insurance, telecom, information technology, etc.
The company reported a jump of 13% in its revenue from operations to Rs 131.59 crore for the year ending December 31, 2021 from Rs 116.45 crore in the previous year, primarily due to increase in the revenue from operations of the company as a result of international expansion. The company’s profits grew 37.70% to ₹ 25.36 crore for the Financial Year 2021 from ₹ 18.42 crore for the Financial Year 2020. For the nine-month period ended December 31, 2021 revenue from operations stood at 137.Ends
RHP: https://www.sebi.gov.in/
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