eMudhra IPO

Closed DRHP

IPO Subscription Details

  • Open Date 20 May
  • Close Date 24 May
  • Lot Size 58
  • IPO Price Range ₹ 243 to ₹256 /share
  • Min Investment ₹ 14,094
  • Listing Exchange BSE, NSE
  • Basis of Allotment 27 May
  • Refunds 30 May
  • Credit to Demat Account 31 May
  • Listing Date 01 Jun

eMudhra IPO Subscription Status

  QIB NII Retail TOTAL
Day 1 0.00x 0.04x 0.94x 0.48x
Day 2 0.25x 0.16x 1.69x 0.96x
Day 3 4.05x 1.28x 2.61x 2.72x

IPO Synopsis

A digital signature provider, Emudhra has filed its DRHP with SEBI on November 16. The IPO consists of a fresh issue worth Rs.200 crore and an OFS of up to 8,510,638 equity shares.
 

Promoter

Number of shares offloaded in OFS

Venkatram Srinivasan

3,289,257

Taarav Pte Ltd

3,191,490

Kaushik Srinivasan

510,638

Lakshmi Kaushik

504,307

Arvind Srinivasan

881,869

Aishwarya Arvind

133,077


The book running lead managers to the issue are IIFL Securities Ltd, Yes Securities Ltd and Indorient Financial Services Ltd. The company is considering a pre-IPO placement worth Rs.39 crore. 


Objectives of eMudhra IPO:

1.
Rs.35 crore is being kept aside for prepayment and repayment of debt availed by the company.
2. Rs.40.219 crore is to be used for funding the working capital requirements.
3. Rs.46.634 crore will be used for purchasing equipments and funding some other related costs so that data centers can be set up in India and overseas.
4. Rs.15.03 crore will be used as expenditure for product development.
5. Rs.15.27 crore is to be invested back into Emudhra for sales, market development and any future costs.

About eMudhra

eMudhra is the country’s largest certifying authority with a market share of 37.9% in the digital signature market, as of FY21. It grew from 36.5% in FY20. The company provides Digital Trust Services and Enterprise Solutions for various individuals and organizations. Since their inception in 2008, the company has issued more than 50 million digital signature certificates with the help of 88,457 channel partners who are spread all over the country. These digital certificates are used in income tax returns, tender, foreign trade, railway documentation and banking. 
Their retail customers rose from 58,872 as of March 31, 2019 to 136,233 as of September 30, 2021. And the enterprise customers also grew from 249 to 563 in the same period. The company has large government and banking customers including 20+ private and public sector banks and also state governments.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY21 FY20 FY19
Revenue 131.6 116.5 101.6
EBITDA 40.8 32.3 32.3
PAT 25.4 18.4 17.4
Particulars (in Rs. Crores) FY21 FY20 FY19
Total Assets 191.9 158.7 119.5
Share Capital 35.1 35.1 35.1
Total Borrowings 27.2 21.5 12.4
Particulars (in Rs. Crores) FY21 FY20 FY19
Net cash generated from / (used in) operating activities 40.94 23.24 16.79
Net cash from / (used in) investing activities -47.08 -28.69 -32.03
Net cash flow from / (used in) financing activities 4.66 12.31 10.47
Net increase (decrease) in cash and cash equivalents -1.47 6.86 -4.78

 


IPO Key Points

  • Strengths

    1. eMudhra is the largest licensed certifying authority of India with 37.9% market share in the digital signature market and it is also the largest player in the Indian digital trust services market with a share of 17.8% and 19% share in the digital transformation solutions market.

    2. The company is in a position to capture the favourable dynamics of the Indian markets it is a one stop shop for secure digital transformation.

    3. eMudhra is the only Indian company that has been admitted as a member of the European Cloud Signature Consortium and the Certifying Authority/ Browser forum.

    4. The Enterprise Solutions and Digital Trust segments are backed by efficient technological infrastructure including data centers in India and a few being set up abroad as well.

    5. Their portfolio includes renowned customers like Hindalco Industries Ltd, Infosys ltd, Baud Telecom Company, JSW Steel, Larsen and Toubro Infotech Ltd etc.

  • Risks

    1. The success of the whole business depends on the ability of the company to analyze what the customers and the market needs and also research and develop resources in order to enhance the current solutions and also make new solution at a timely basis, keeping up with the needs.

    2. The company plans on expanding to areas where it has not operated in before and thus, the expansion can either be profitable or not.

    3. All the operations of the company is dependent on technology. If the technology platform crashes for some reason it will increase the costs and decrease the revenue to a large extent.

    4. There may be instances where the security measure of the company may be compromised and give way to cyber attacks.

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

IPO FAQs

What is the minimum lot size and investment required for the eMudhra IPO?

The eMudhra IPO lot size is 58 shares. The minimum a retail investor can apply for is upto 1 lot (58 shares or Rs.14,848) and maximum up to 13 lots (754 shares or Rs.193,024).

What is the price band of eMudhra IPO?

The price band for eMudhra IPO is ₹243 to ₹256 per share

When does the eMudhra IPO issue open and closes?

eMudhra IPO opens on May 20, 2022, and closes on May 24, 2022.

What is the size of eMudhra IPO issue?

The eMudhra IPO size is Rs.412.79 crore comprising fresh issues worth ₹161 crore and offer for sale up (OFS) to 9,835,394 equity shares.

Who are the promoters/key personnels of eMudhra IPO?

The promoters of eMudhra are Venkatraman Srinivasan and Taarav Pte. Limited

When is the allotment date of eMudhra IPO?

The allotment date of eMudhra IPO is May 27, 2022

When is the eMudhra IPO listing date?

The eMudhra IPO will be listed on Jun 1, 2022

Who are the book runners for eMudhra IPO?

IIFL Securities, Yes Securities and Indorient Financial Services Ltd are the lead managers to the issue.

What are the objective of eMudhra IPO?

The proceeds will be used for -

1. Rs.35 crore is being kept aside for prepayment and repayment of debt availed by the company.
2. Rs.40.219 crore is to be used for funding the working capital requirements.
3. Rs.46.634 crore will be used for purchasing equipments and funding some other related costs so that data centers can be set up in India and overseas.
4. Rs.15.03 crore will be used as expenditure for product development.
5. Rs.15.27 crore is to be invested back into eMudhra for sales, market development and any future costs.

How to apply for the eMudhra IPO?

To apply for eMudhra IPO, follow the steps given below

1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and price at which you wish to apply for
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
4. You will receive a mandate notification to block funds in your UPI app
 

Contact Details of eMudhra IPO

Contact Information

Address

eMudhra Limited

Sai Arcade, 3rd Floor,
No. 56 Outer Ring Road, Devarabeesanahalli,
Bengaluru 560103,
Phone: 080-4227 5300
Email: companysecretary@emudhra.com
Website: https://www.emudhra.com/

eMudhra IPO Register

Address

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: emudhra.ipo@linkintime.co.in
Website: https://linkintime.co.in/

eMudhra IPO Lead Manager

1. IIFL Securities Ltd (Past IPO Performance)
2. Yes Securities (India) Limited (Past IPO Performance)
3. Indorient Financial Services Ltd (Past IPO Performance)

Lead Manager Reports

IPO Lead Manager Performance Summary
IPO Lead Manager Performance Tracker

IPO Related Articles

eMudhra IPO - How to Check Allotment Status

eMudhra IPO consists entirely of a ₹251.79 crore offer for sale (OFS). You can check your allotment status for eMudhra IPO online if you have ...Read More

  • 5paisa Research Team
  • 18 May 2022

eMudhra IPO GMP

The eMudhra consists entirely of an offer for the sale of ₹251.79 Crore by the promoters and PE investors. The issue has been priced in the band of Rs.243 to Rs.256 per share and...Read More

  • 5paisa Research Team
  • 24 May 2022

Aether Industries IPO : 7 things to know about

Aether Industries Ltd, a leading specialty chemicals company, has already filed the draft red herring prospectus (DRHP) with SEBI for its proposed IPO of Rs.1,000 crore IPO. The IPO will be a combi...Read More

  • 5paisa Research Team
  • 07 Mar 2022