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IPO

Digital signature certificate provider eMudhra's pulls off Rs.413-Cr IPO

Mint  

The initial public offering (IPO) of digital signature certificate provider eMudhra has been subscribed 1.47 times. Retail investors booked 2.21x, NIIs 0.37x, and QIBs 0.96x. The company had cut the size of the fresh issue from INR 200 crore to INR 161 crore. The Offer-For-Sale (OFS) portion includes sale of 98.35 lakh shares by promoters and existing shareholders. The price range was INR 243-256 per share. At the upper end of the price band, the IPO is expected to fetch INR 413 crore. eMudhra is a licensed certifying authority and has been engaged in the business of providing digital trust services and enterprise solutions to individuals and organisations. Proceeds from the fresh issue will be used to repay debt, support working capital requirements, purchase equipment and pay for the costs for data centres to be set up in India and overseas, develop products, and invest in eMudhra INC.