Home  »  Ipo Review  »  Emudhra Ipo

India’s largest licensed Certifying Authority, eMudhra Limited, is set to float an IPO of about Rs. 412 crore in the market. The entity has received the SEBI approval for the DRHP filed in November 2021.

eMudhra IPO comprises a Fresh Issue and an Offer for Sale.

eMudhra IPO Review will cover aspects of the company and the upcoming IPO. We will include the company’s operations, its products and services, promoters and management of the company, and its financial position.

Also, we will understand the IPO, its objectives, dates, price and size, IPO GMP, and other elemental facets.

Face ValueRs 5
Price BandRs.243 to Rs.256
Listing AtBSE, NSE
Min. Order Quantity58 Shares
Listing DateJun 1, 2022
Offer for SaleRs.251.79 Crore
Fresh IssueRs.161 Crore
IPO SizeRs.412.79 Crore
Tick Size1

 


eMudhra IPO Overview

Paradeep Phosphates IPO

eMudhra IPO combines a Fresh Issue of equity shares aggregating up to Rs. 161 crore and an Offer for Sale of up to 98,35,394 equity shares.

Some of the promoters and investors of the company will be making a partial or full exit from the company through the IPO.

As per the RHP, the company has undertaken a pre-IPO placement of about 1,603,617 equity shares aggregating up to Rs. 39 crore

eMudhra IPO Important Dates

EventsDate
IPO Opening DateMay 20, 2022
IPO Closing DateMay 24, 2022
Basis of Allotment FinalizationMay 27, 2022
Refunds InitiationMay 30, 2022
Credit of Shares to Demat AccountMay 31, 2022
Share Listing DateJun 1, 2022

eMudhra has received the SEBI observation letter as the approval for the Draft Red Herring Prospectus. The company filed the Red Herring Prospectus with SEBI on May 10, 2022.

The RHP led out the important eMudhra IPO Dates. According to that, the company will be opening the IPO on May 10 and will remain open till May 24.

During this period, the investors can apply for a subscription to the security. Also, eMudhra will list the securities on June 1, 2022.

eMudhra IPO Price, Size, Share Offerings

Face ValueRs.5
Price BandRs.243 to Rs.256
Offer for SaleRs.251.79 Crore
Fresh IssueRs.161 Crore
IPO SizeRs.412.79 Crore

eMudhra IPO Size consists of the Fresh share issue and Offer for Sale, and the final quantum of shares will be discovered post the IPO.

The eMudhra IPO Price will be determined in the Book Building Process by the company and the selling shareholders.

The price band for applying to the IPO is between Rs. 243 to Rs. 256 per share. The minimum bid lot size is 58 shares.

The face value of the offered shares is Rs. 5 each. And the shares are proposed to be listed on NSE and BSE.

eMudhra IPO Grey Market Premium

DateGMP (Rs.)Kostak Rate (Rs.)Subject to Sauda (Rs.)
1 June 2022(Rs. 10)NANA
31 May 2022(Rs. 10)NANA
28 May 2022(Rs. 10)NANA
27 May 2022(Rs. 10)NANA
26 May 2022(Rs. 10)NANA
25 May 2022(Rs. 10)NANA
 24 May 2022(Rs. 10)NANA
 23 May 2022(Rs. 10)NANA
 21 May 2022(Rs. 10)NANA
 20 May 2022(Rs. 10)NANA
 19 May 2022(Rs. 10)NANA
 18 May 2022(Rs. 10)NANA
17 May 2022NANANA
16 May 2022NANANA
15 May 2022NANANA
14 May 2022NANANA

eMudhra IPO GMP will be updated and reflected here soon. The company has filed the RHP, and its opening and closing dates are also made available.

GMP or Grey Market Premium is the amount paid for the shares of the issuer company in the Grey Market. Grey Market is an unofficial market. The market is usually active before listing the shares on the stock exchange.

eMudhra IPO Subscription Status

Day / DateQIBNIIRIITotal Subscription
1st Day – 20th May 0.00x0.04x0.94x0.48x
2nd Day – 23rd May0.25x0.16x1.69x0.96x
3rd Day – 24th May 4.05x1.28x2.61x2.72x
Shares Offered or Net Issue3,134,3292,469,1375,761,31811,364,784

eMudhra IPO is all set to flaunt on the stage. The company is opening its doors to investors from May 20 to May 24. And the bids for Anchor investors will open on May 19.

The price band of the IPO is Rs. 243 – Rs. 256 per share. You can participate and bid for the shares online through the ASBA process. Also, retail investors can use the UPI mechanism for payment.

The eMudhra IPO Subscription will be allotted in the following manner:

  1. Qualified Institutional Buyers – 50%
  2. Non-Institutional Bidders – 15%
  3. Retail Individual Bidders – 35%

eMudhra IPO Allotment Status

The basis of the eMudhra IPO Allotment will be determined on May 27, 2022. And the company will credit the equity shares in the Demat accounts of the subscribers on May 31, 2022.

The shares will not be dispatched physically, only in the dematerialized form. The company will proceed with the Initiation of Refunds for the bids that have not been accepted on May 30, 2022.

eMudhra IPO Live Performance

To check out the eMudhra IPO Performance, you can click here. Updated eMudhra IPO Price will be available from here, and you can access it with a single click.


Latest eMudhra IPO News

eMudhra IPO is all set to get on the floor on May 20th. The company is expecting to garner funds of up to Rs. 412.79 crore. The IPO comprises fresh issue as well as share sale by investors of the company.

The IPO price band has been set at Rs. 243 to Rs. 256 per share. Post the IPO subscription; the company will finalize the basis of allotment.

The IPO is a mainboard IPO, and the shares offered in the IPO will be listed on BSE and NSE. eMudhra IPO will open on May 20th and will conclude on May 24th.

The IPO of India’s largest licensed certifying authority will be open for three days.


eMudhra – Company Review

Incorporated as 3i Infotech Consumer Services Limited in 2008, the company has emerged as India’s largest licensed Certifying Authority. Presently, the company is situated in Bengaluru.

Pursuant to the acquisition by Indus Innovest Technologies Private Limited, the company’s name was changed to eMudhra Consumer Services Limited in 2010.

Further, the company’s name was changed to eMudhra Limited in 2014.

The company offers a wide range of services under one roof. The company’s business is primarily divided into two broad verticals, namely – Digital Trust Services and Enterprise Solutions.

Products or Services

eMudhra Limited provides emSigner, emAS, emCA, and Digital Certificates products.

Its services include Trust services, Data Analytics, and Cyber Security.

The entity provides its services to various industries, including Banking & Financial Services, Insurance, Education, Healthcare, Manufacturing, and the Government and Public Sector.

The company has a diversified business and offers reliable services.

Promoters and Holding

The Promoters of eMudhra Limited are:

  1. Venkatraman Srinivasan
  2. Taarav Pte. Limited

The management of the company consists of the following:

  1. Venkatraman Srinivasan, in the position of Executive Chairman
  2. Venu Madhava, in the position of Whole-time Director
  3. Nandlal Laxminarayan Sarda, in the position of Independent Director
  4. Manoj Kunkalienkar, in the position of Independent Director
  5. Chandra Lakshminarayan Iyer, in the position of Independent Director
  6. Chandrasekar Padmanabhan, in the position of Independent Director
  7. Saji K Louiz, in the position of Chief Financial Officer
  8. Ashwin Jansale, in the position of Senior Vice President and Head of Channel Sales
  9. Biju Varghese, in the position of Senior Vice President and Head of Business Development
  10. Kaushik Srinivasan, in the position of Senior Vice President – Product Development
  11. Arvind Srinivasan, in the position of Senior Vice President – International Sales and Strategy
  12. Janarthanan S, in the position of Senior Vice President and Head – Of Customer Success
  13. Vijay Kumar, in the position of Senior Vice President and Head – Of technology
  14. A M Kiran, in the position of Vice President and Head – Customers Operations

Is eMudhra good for Investment?

The largest Digital Signature Certificate provider eMudhra Limited is a distinct player in the industry. The company offers varied services to corporates and other institutions without hassle.

The company applies the best technologies to its operations and has created a distinct identity. eMudhra IPO is a bucket full of opportunities for the company and the investors to be a part of this elite company.


eMudhra Financial Statements

Amount (in INR & Million)
31-Dec-2131-Mar-21Mar-2031-Mar-19
Assets2,541.111,919.141,587.111,195.15
Revenue1,383.041,324.541,167.991,016.80
Expense1,015.621,012.74937.81781.34
Profit After Tax303.40253.59184.16174.36

eMudhra Limited is a significant entity in digital certification. The company offers digital solutions for various certifications and authentications.

The company’s financial standing has been strengthening over the years, and its competitiveness in the market.

In the last three financial years, the company’s revenue was – 1,016.80 million in 2019, 1,167.99 in 2020, and 1,324.54 million in 2021.

The company’s profits for 2019, 2020, and 2021 were – 216.47 million, 230.18 million, and 311.80 million.

Earnings per Equity Share (in Million)
31-Dec-2131-Mar-21Mar-2031-Mar-19
Basic & Diluted4.362.492.372.48

Its EPS has also shown a slight growth, not significant, but it is moving positively. As of December 31, 2021, the EPS of eMudhra Limited was Rs. 4.36.


eMudhra IPO Review

eMudhra IPO comprises a Fresh Issue of equity shares aggregating up to Rs. 161 crore and an Offer for Sale of up to 98,35,394 equity shares.

The promoters and selling shareholders are Venkatraman Srinivasan, Taarav Pte Limited, Kaushik Srinivasan, Arvind Srinivasan, Lakshmi Kaushik, and Aishwarya Arvind.

The company has competitive advantages in various dimensions over its competitors. The IPO is a fruitful step for the company.


eMudhra IPO Details

Here are few more details you need to know before investing in eMudhra IPO –

eMudhra IPO Issue Object

eMudhra has proposed diverse objectives for making the IPO offer and some of the objectives are:

  • Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Company
  • Funding working capital requirements of our Company
  • Purchase of equipments and funding of other related costs for data centers proposed to be set-up in India and overseas locations
  • Funding of expenditure relating to product development
  • Investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs for future growth
  • General corporate purposes

eMudhra IPO – Basis of Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Largest licensed Certifying Authority in India.
  • We are a one stop shop solution provider in secure digital transformation and are well-positioned to capture the favourable industry dynamics in India and globally,
  • Technology certifications, accreditations and membership in international bodies.
  • Technology backed infrastructure to support quality and security of services and solutions.
  • Diverse, longstanding and growing customer base.
  • Partnerships with leading Indian and global channel partners and enterprise solution partners.
  • Experienced promoter, board of directors and senior management team.

Quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-212.4916.2620.02
31-Mar-202.3718.07
Mar-192.4823.05

eMudhra IPO Lead Managers

Here are the list of Lead managers –

  • IIFL Securities Limited
  • YES Securities (India) Limited
  • Indorient Financial Services Limited

eMudhra IPO Registrar to offer

Check out the details of the registrar here –

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S Marg, Vikhroli West
Mumbai 400 083 Maharashtra, India
Tel: +91 (22) 4918 6200
E-mail: emudhra.ipo@linkintime.co.in
Investor grievance e-mail: emudhra.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration No.: INR000004058

eMudhra IPO – Other Details

  • Statutory Auditor – Manohar Chowdhry & Associates
  • Legal Counsel to the Company – AZB & Partners
  • Bankers to the Company – Kotak Mahindra Bank Limited

eMudhra IPO Verdict by Stock Brokers

eMudhra Limited is a strong entity in the segment it operates. It is the largest licensed certifying authority operating in India.

It offers Digital Trust Services and Enterprise Solutions services and has wide customer progress. The entity has a competitive advantage over others.

The company is gradually growing on the financial and market share front and has the potential to produce rewarding outcomes. Investors can consider investing in the IPO from a long-term perspective.


eMudhra IPO – Conclusion

In the era of technology, we all require a compatible entity that is efficient and reliable. And eMudhra Limited has successfully as the preferred choice for many individuals and organizations.

The company has diversified functions, and it excels in all of them. The eMudhra IPO is a chance for investors to join the entity’s incredible journey and add a jewel to their investment portfolio for themselves.


To Subscribe to eMudhra IPO – Open Demat Account Now!

    Fill Your Details Here


    eMudhra IPO Review FAQs

    Check out the FAQs on eMudhra IPO –

    What is the Issue Size of eMudhra IPO?

    The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.

    You can check the stats on the fresh issue, Offer for sale, and net issue.

    What is the Price band of eMudhra IPO?

    The price band for this particular IPO ranges between Rs.243 to Rs.256. As far as the face value of the share is of concern, it is Rs.5 per share.

    What is the eMudhra IPO Open Date?

    The opening and closing dates for this IPO have been updated. The IPO is set to open on May 20, 2022, while the closing date is set at May 24, 2022.

    What is the eMudhra IPO Allotment Date?

    They also have the news regarding the respective allotment dates of this IPO.

    Basis of Allotment finalization is on May 27, 2022, refund initiation is on May 30, 2022, credit of shares is on May 31, 2022, and share listing date is on Jun 1, 2022.

    What is the eMudhra IPO Listing Date?

    Shares of this company shall be listed in the exchanges Jun 1, 2022. The date, when the listing would be done, is stagnant on Jun 1, 2022.

    Who is the Registrar of eMudhra IPO?

    One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.

    Who is the Promoter of eMudhra IPO?

    Here are the promoters of this IPO – VENKATRAMAN SRINIVASAN AND TAARAV PTE. LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

    What is the GMP of eMudhra IPO?

    They have obtained the GMP of this IPO and it is (Rs. 10). Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

    Is eMudhra IPO good for Investment?

    They have further provided the financial status of the company in this article, from the past few years.

    You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

    What is the PAT of eMudhra Company?

    They have the information of company financials, and according to that, they have the figures from the last few years to provide.

    PAT for the financial year 2021 in Million is 253.59, 2020 is 184.16, 2019 is 174.36. PAT from Dec 2021 is 303.40.


    Featured Topics

     

    Leave a Reply

    Your email address will not be published.

    24 + 9 =

    Get 100% IPO Allotment Guarantee! Subscribe to IPO