Monday, May 16, 2022

eMudhra Limited’s Initial Public Offering (IPO) To Open On May 20, 2022, Sets Price Band At Rs 243 to Rs 256 Per Equity Share


·         Price Band:  Rs 243 – Rs 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 crores 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: Rs 412.79 crore (Fresh  Rs 161 crores + OFS ?251.79 crore)

·         Fresh Issue  Rs 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.

About eMudhra:

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 is 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  Rs 25.36 crore for the Financial Year 2021 from  Rs 18.42 crore for the Financial Year 2020. For the nine-month period ended December 31, 2021 revenue from operations stood at 137.24 crore, and net profit stood at Rs 30.34 crore.

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