Bookbuilding IPO | ₹413 Cr | Listed at BSE, NSE | Fri, May 20, 2022 - Tue, May 24, 2022
eMudhra IPO is a book build issue of ₹412.79 crores. The issue is a combination of fresh issue of 0.63 crore shares aggregating to ₹161.00 crores and offer for sale of 0.98 crore shares aggregating to ₹251.79 crores.
eMudhra IPO bidding started from May 20, 2022 and ended on May 24, 2022. The allotment for eMudhra IPO was finalized on May 27, 2022. The shares got listed on BSE, NSE on Jun 1, 2022.
eMudhra IPO price band is set at ₹256 per share. The lot size for an application is 58. The minimum amount of investment required by an retail is ₹14,848 (58 shares) (based on upper price). The lot size investment for sNII is 14 lots (812 shares), amounting to ₹2,07,872, and for bNII, it is 68 lots (3,944 shares), amounting to ₹10,09,664.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to eMudhra IPO RHP for detailed Information.
IPO Open
Fri, May 20, 2022
IPO Close
Tue, May 24, 2022
Issue Price
₹256 per share
Market Cap (Pre-IPO)
₹1,998.65 Cr
| IPO Date | 20 to 24 May, 2022 |
| Listed on | Wed, Jun 1, 2022 |
| Face Value | ₹5 per share |
| Price Band | ₹243 to ₹256 |
| Issue Price | ₹256 per share |
| Lot Size | 58 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,61,24,456 shares (agg. up to ₹413 Cr) |
| Fresh Issue | 62,89,062 shares (agg. up to ₹161 Cr) |
| Offer for Sale | 98,35,394 shares of ₹5 (agg. up to ₹252 Cr) |
| Share Holding Pre Issue | 7,17,83,309 shares |
| Share Holding Post Issue | 7,80,72,371 shares |
| BSE Script Code / NSE Symbol | 543533 / EMUDHRA |
| ISIN | INE01QM01018 |
eMudhra IPO offers total 1,61,24,456 shares. Out of which 80,62,227 (50.00%) allocated to QIB, 32,24,891 (20.00%) allocated to QIB (Ex- Anchor), 24,18,669 (15.00%) allocated to NII 56,43,560 (35.00%) allocated to RII and 48,37,336 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 80,62,227 (50.00%) | NA |
| − Anchor Investor Shares Offered | 48,37,336 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 32,24,891 (20.00%) | NA |
| NII (HNI) Shares Offered | 24,18,669 (15.00%) | NA |
| − bNII > ₹10L | 16,12,446 (10.00%) | 1,985 |
| − sNII < ₹10L | 8,06,223 (5.00%) | 992 |
| Retail Shares Offered | 56,43,560 (35.00%) | 97,302 |
| Total Shares Offered | 1,61,24,456 (100.00%) |
Investors can bid for a minimum of 58 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 58 | ₹14,848 |
| Retail (Max) | 13 | 754 | ₹1,93,024 |
| S-HNI (Min) | 14 | 812 | ₹2,07,872 |
| S-HNI (Max) | 67 | 3,886 | ₹9,94,816 |
| B-HNI (Min) | 68 | 3,944 | ₹10,09,664 |
eMudhra IPO raises ₹123.84 crore from anchor investors. eMudhra IPO Anchor bid date is May 19, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, May 19, 2022 |
| Shares Offered | 48,37,336 |
| Anchor Portion (₹ Cr.) | 123.84 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jun 26, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Aug 25, 2022 |
eMudhra Limited is India's largest licenced Certifying Authority ("CA"). The company's business is divided into two verticles Digital Trust Services and Enterprise Solutions. eMudhra Limited is engaged in the business of providing services like individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, IT policy assessment, etc.
The company has strong digital signature certificate expertise and is the only Indian company to be directly recognised by renowned browsers and document processing software companies such as Microsoft, Mozilla, Apple, and Adobe, allowing it to sell digital identities to individuals and organisations worldwide and issue SSL/TLS certificates for website authentication.
The company has issued over 50 million digital signature certificates through the network of 88,457 channel partners spread across India. As of September 30, 2021, the company is serving 36,233 retail customers and 563 enterprises.
As of September 30, 2021, eMudhra's Enterprise Solutions are used by the top 10 banks, 6 top automotive companies and 19 top companies amongst the top 500 ranked companies in India by Economic Times in Financial Year 2020.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company | 35.00 |
| 2 | Funding working capital requirements of the Company | 40.22 |
| 3 | Purchase of equipments and funding of other related costs for data centers proposed to be set-up in India and overseas locations | 46.36 |
| 4 | Funding of expenditure relating to product development | 15.03 |
| 5 | Investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs for future growth | 15.27 |
| 6 | General corporate purposes | 0.32 |
| KPI | |
|---|---|
| ROE | 24.2 |
| ROCE | 30.5 |
| Debt/Equity | 23.30 |
| RoNW | 16.26 |
| PAT Margin | 19.30% |
| EBITDA Margin | 31.00% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.49 | |
| P/E (x) | 49.42 | |
| Promoter Holding | 79.19% | 61.03% |
| Market Cap | ₹1,998.65 Cr. |
The eMudhra IPO is subscribed 2.72 times on May 24, 2022 5:00:00 PM (Day 3). The public issue subscribed 2.61 times in the retail category, 4.05 times in the QIB category, and 1.28 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 4.05 | 31,34,329 | 1,26,87,152 |
| NII | 1.28 | 24,69,137 | 31,72,194 |
| Retail | 2.61 | 57,61,318 | 1,50,43,170 |
| Total | 2.72 | 1,13,64,784 | 3,09,02,516 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 12.38 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.32 |
| 3 | Fees payable to Registrar to the Offer | 0.04 |
| 4 | Fees payable to the other advisors to the Offer | 0.86 |
| 5 | Others | |
| 6 | Listing fees, SEBI BSE & NSE processing fees, book building software fees and other regulatory expenses | 2.11 |
| 7 | Printing and distribution of stationery | 1.19 |
| 8 | Advertising and marketing expenses | 2.14 |
| 9 | Fees payable to legal counsels | 2.39 |
| 10 | Miscellaneous | 0.14 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹256.00 | ₹256.00 |
| Open | ₹271.00 | ₹270.00 |
| Low | ₹255.40 | ₹256.00 |
| High | ₹279.00 | ₹279.00 |
| Last Trade | ₹258.85 | ₹257.90 |
eMudhra IPO is a main-board IPO of 1,61,24,456 equity shares of the face value of ₹5 aggregating up to ₹413 Crores. The issue is priced at ₹256 per share. The minimum order quantity is 58.
The IPO opens on Fri, May 20, 2022, and closes on Tue, May 24, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in eMudhra IPO using UPI as a payment gateway. Zerodha customers can apply in eMudhra IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in eMudhra IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The eMudhra IPO opens on Fri, May 20, 2022 and closes on Tue, May 24, 2022.
eMudhra IPO lot size is 58, and the minimum amount required for application is ₹14,848.
You can apply in eMudhra IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for eMudhra IPO will be done on Friday, May 27, 2022, and the allotted shares will be credited to your demat account by Tue, May 31, 2022. Check the eMudhra IPO allotment status.
The eMudhra IPO listing date is on Wed, Jun 1, 2022.
