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Yeh IPO kya kahta hai? eMUDHRA LIMITED

All that you should know about the Company before applying for the IPO.

May 19, 2022     

The public issue of equity shares of eMudhra Limited will open for subscription on May 20, 2022 and closes on May 24, 2022. It is expected to list on the stock exchanges on June 01, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

It is the largest licensed Certifying Authority in India, it is engaged in the business of providing Digital Trust Services and Enterprise Solutions. As part of Digital Trust Services, they issue a range of certificates including individual/organizational certificates, SSL/TLS certificates and device certificates (used in IoT use cases) to build a digital trust backbone. Under their Enterprise Solutions vertical, they offer a diverse portfolio of Digital Security and Paperless Transformation Solutions, complementing the Digital Trust Services business, to customers engaged in different industries.

It caters to all kind of subscribers who use digital signature certificates for IT return filing, filings with the Ministry of Corporate Affairs (Registrar of Companies), tenders, foreign trade, banking, railways and many other needs. It is identified and ranked amongst the ‘20 Most Promising Tech Solution Providers for Government & Public Sector 2019’ by CIO Review India. 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.

It is the only Indian company to be directly recognized by renowned browsers and document processing software companies such as Microsoft, Mozilla, Apple and Adobe allowing it to sell digital identities to individual/organization and issue SSL/TLS certificates for website authentication globally.

Since the inception, the company have issued over 50 million digital signature certificates through their network of 88,457 channel partners spread across all States and UT in India. Their customers include, Infosys Ltd, Hindalco Industries Ltd, Mashreq Bank, Baud Telecom Company, Thales DIS CPL India Private Ltd, Larsen & Toubro Infotech Ltd, etc., operating in various industries such as banking, automotive, IT, consumer durables, etc.

Provides solutions and services in overseas regions such as, Americas, Europe, Middle East and Africa and Asia Pacific. It caters to 143,406 retail customers and 626 enterprises and have 91,259 channel partners spread across various States and UT in India and 267 system integrator partners in India and 272 internationally.

Who are the Promoters of the Company?

Venkatraman Srinivasan and Taarav PTE. Limited

Positives about the Company

  • Largest licensed Certifying Authority in India
  • 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.

Who are its key competitors?

There are no listed peers in India

Why is the Company going public?

Given below are the objectives of the Company –

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company.
  • Funding working capital requirements of the 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

The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.

IPO Details

IPO Size ₹ 412.79 Crore *
Offer Mix Fresh issue ₹ 161 Crore + Offer For Sale ₹ 251.79 Crore
Price Band ₹ 243 - ₹ 256
Lot Size 58 Shares (& in multiples thereof)
Face Value ₹ 5
Application Amount Min. ₹ 14,848 (1 lot) | Max. ₹ 1,93,024 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Cut-off time for UPI Mandate Confirmation 25-May-2022 (up to 12:00 PM)
* at upper price band

Category Wise Availability *

QIB ₹ 204.39 Crore
(50% of Issue Size)
NIB ₹ 61.92 Crore
(15% of Issue Size)
Retail ₹ 144.48 Crore
(35% of Issue Size)
* at upper price band

Indicative Issue Timeline

Activity Date
IPO Opens May 20, 2022
IPO Closes May 24, 2022
Finalization of the basis of allotment May 27, 2022
Unblocking of funds / Initiation of refunds May 30, 2022
Credit of equity shares to Demat accounts May 31, 2022
Listing of equity shares June 01, 2022
Source: Company RHP
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