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eMudhra IPO - Details

eMudhra Ltd. has received SEBI's approval to raise funds through an initial public offering in March 2022. The company had previously filed its preliminary draft papers between November 2021 and December 2021. This IPO consists of freshly issued equity shares amounting to Rs. 200 crores and an OFS by existing shareholders and promoters comprising around 85.1 lakh shares. The document for this company’s pre-IPO placement showed that eMudhra might consider raising Rs. 39 crores through the same. Further details of this initial share sale are provided in the table below. Click here to Apply for eMudhra IPO.

Issue Type

Book Built

Listing at

BSE & NSE

IPO Price Band

Rs 243-256

per equity share

Face Value

₹5

per equity share

Market Lot

58 Shares

Minimum Order Quantity

58 Shares

Issue Type

Book Built

Listing at

BSE & NSE

IPO Price Band

Rs 243-256

per equity share

Face Value

₹5

per equity share

Market Lot

58 Shares

Minimum Order Quantity

58 Shares

Listing at NSE, BSE

Important Dates for eMudhra IPO

IPO Opens On May 20, 2022
IPO Closes On May 24, 2022
Basis Of Allotment Publication Date May 27, 2022
Credit Of Shares To Demat Account May 31, 2022
Initiation Of Refund May 30, 2022
IPO Listing June 1, 2022

View all upcoming IPOs

eMudhra IPO Latest News and Subscription Status Today [Live]

At 05:10:00 PM.
  • This IPO has been subscribed 2.72x by 5:10 PM. on Day 3
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 4.05x
  • (NII) Non-institutional buyers: 1.28x
  • (RII) Retail Individual buyers: 2.61x
At 11:30:00 AM.
  • This IPO has been subscribed 1.15x by 11:30 AM. on Day 3
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.47x
  • (NII) Non-institutional buyers: 0.27x
  • (RII) Retail Individual buyers: 1.90x
At 05:10:00 PM.
  • This IPO has been subscribed 0.96x by 05:10 PM. on Day 2
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.25x
  • (NII) Non-institutional buyers: 0.16x
  • (RII) Retail Individual buyers: 1.69x
At 11:30:00 AM.
  • This IPO has been subscribed 0.68x by 11:30 AM. on Day 2
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.07x
  • (RII) Retail Individual buyers: 1.32x
At 05:20:00 PM.
  • This IPO has been subscribed 0.48x by 05:20 PM. on Day 1
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.04x
  • (RII) Retail Individual buyers: 0.94x
At 11:30:00 AM.
  • This IPO has been subscribed 0.24x by 11:30 AM. on Day 1
  • It is a public issue of 1,13,64,784 equity shares.
Status of Subscription
  • (QIB) Qualified institutional buyers: 0.00x
  • (NII) Non-institutional buyers: 0.01x
  • (RII) Retail Individual buyers: 0.71x

About eMudhra

eMudhra is a licensed, digital-signature certifying authority offering services under the Information Technology Act of India, including digital-certificate solutions. In addition to providing legal digital certificates, eMudhra offers several other services, including tax-filing assistance, time-stamping services, and device authentication through fingerprint technology.

eMudhra accounts for over 37% share of the digital certificate market. A digital certificate is used in income tax returns, tender, foreign trade, railway documentation and banking. As of the fiscal year 2021, eMudhra had 136,233 retail customers and 563 enterprise customers. Further, the company has a large user base that includes individuals, government organisations, corporates, banks and several small to big businesses. With SEBI’s approval, eMudhra can now proceed with its initial share sale.

Objectives of eMudhra IPO

To expand their market reach, eMudhra has decided to float an IPO worth Rs. 200 crores after getting the nod from the Securities and Exchange Board of India. The objectives of this public issue are listed below –

  • Repayment and prepayment of debts will be fulfilled with Rs. 35 crores.

  • Funding of working capital requirements will be done with Rs. 40.19 crores.

  • Rs. 46.634 crores worth of funds will be used to purchase equipment and other costs to set up data centres in India and foreign soils.

  • Rs. 15.03 crores is estimated to be used for product development.

  • The leftover Rs. 15.24 crores will be used as an investment for market development, increasing sales and other corporate purposes.

Why Should I Invest in the eMudhra IPO?

Prospective investors should be aware of the following pointers:

  • eMudhra is the largest Certifying Authority in India.

  • The company provides a variety of ways to transform businesses digitally and is well-positioned within the industry.

  • eMudhra also provides certifications, accreditations, and membership in international organisations to prove their commitment to technologically advanced products.

  • The infrastructure of this company is centred on the development and support of technology that enables quality and security across services and solutions.

  • In addition, eMudhra has maintained long-term, diverse, rising relationships with its customers.

  • The firm plans to cooperate with channel partners and enterprise solution providers.

  • The promoters, board of directors and management staff of eMudhra, are highly experienced in the field.

Financial Highlights of eMudhra

The financial highlights of eMudhra, as listed in its DRHP submitted to the Indian market regulator SEBI, are as follows:

Financial Year Total Assets in Crores Total Revenue in Crores Profit After Tax in Crores
FY 2021 Rs. 191.19 Rs. 132.45 Rs. 25.36
FY 2020 Rs. 158.71 Rs. 116.80 Rs. 18.42
FY 2019 Rs. 119.51 Rs. 101.68 Rs. 17.44

How to Apply for eMudhra IPO?

There are two methods that a first-time investor can follow for experiencing an effortless trading process. They include:

UPI

  • Link your bank account to a UPI ID.

  • Register your UPI id with your Demat account.

  • Subscribe for eMudhra IPO and approve the payment on your UPI ID.

Demat Account

Noteworthy Highlights of eMudhra IPO

The following are the noteworthy highlights of eMudhra for interested investors to consider:

  • eMudhra comprises two business verticals, one being enterprise solutions and the other being digital trust services.

  • The company provides solutions to enable secure digital transformation.

  • Moreover, this firm has issued digital signature certificates to over 5 crore customers through the channel partners.

  • TCS, Infosys, Hindalco Industries, and Bharti AXA Life Insurance are among the clients that have been doing business with this company and have a long-standing relationship with eMudhra.

  • In addition, this company also serves customers in the Americas, Europe, Middle East, Africa and the Asia Pacific.

SWOT Analysis of eMudhra IPO

Strength

    • eMudhra is the largest certifying authority in this nation licensed by the Indian government and holds 37.9 per cent of the digital signature market share. Furthermore, they are market leaders in digital transformation solutions and digitised trust services market, holding 17.8 per cent and 19 per cent shares, respectively.

    • The company holds a favourable position in the Indian market, as it provides products and services to help customers digitally transform their businesses.

    • eMudhra, so far, is the only Indian company to be accredited with a membership of the Certifying Authority/ Browser forum along with the European Cloud Signature Consortium.

    • The Digital Trust and Enterprise Solutions components of this company operate data centres in India, with plans to add facilities outside of the country as well.

    • The customer list for this company includes JSW Steel, Hindalco Industries Ltd., Baud Telecom Company, Larsen and Toubro Infotech Ltd., and Infosys Ltd.

Weakness

    • In order to assess its success, a company must examine the needs of both its customers and its market. eMudhra must also conduct research to develop new resources and enhance existing resources that will help it stay on top of changing customer needs.

    • eMudhra plans to expand into new spheres where it has never operated before, and success in these areas may be highly dependent on market conditions.

    • The operations of this company depend on a robust technology platform.So, if it crashes periodically, the costs will increase, and the revenues will decrease.

    • Security measures taken by the company can sometimes fail and make way for cyber attacks.

Opportunity

    • The established presence and differentiated product portfolio of eMudhra give this company a competitive advantage. 
    • It also has a reputation for creating high-quality items at affordable prices. 
    • The number of customers of this company grew from 58,872 in 2019 to 1,36,233 in 2021, with the contribution of business solutions increasing from 361.78 million in 2019 to 643.43 million in 2021. 
    • Through its Digital Trust Services and Enterprise Solutions, eMudhra has built a public and private sector customers portfolio.
    • With years of experience in the industry, the management team of this firm has developed a customer-centred culture, and it focuses on creating products businesses need.

Threats

    • eMudhra may be accused of violating the intellectual property rights or trade secrets of someone else.
    • The use of open-source software in the products of this company could result in legal action or other repercussions. 
    • By setting the wrong prices for the services, the business of eMudhra could suffer.
    • The current rapid expansion of this firm may not represent an accurate picture of the future.
    • The digital trust services and enterprise solutions of eMudhra are all fairly new to the industry. 

Competitive Analysis: Market Peers

India does not have a large number of publicly traded companies in this sector. This makes it difficult to provide an industry comparison in regard to this company.

Frequently Asked Question

What is eMudhra IPO?

eMudhra, India's biggest Licenced Certifying Authority, will debut in the stock market on May 20, 2022. eMudhra will raise Rs 412.79 crore from the IPO, consisting of Rs 161 crore in fresh equities and Rs 251.79 crore in OFS. The IPO bidding window will remain open till May 24, 2022. The IPO shares will be available from Rs 243-256 per equity share.

When eMudhra IPO will open?

eMudhra IPO's opening date is May 20, 2022. The subscription window will remain open till May 24, 2022.

What is the lot size of eMudhra IPO?

The eMudhra IPO lot size is 58. The minimum bidding quota for retail investors is one lot and the maximum is 13 lots for an aggregate investment of Rs 193,024.

When eMudhra IPO allotment?

eMudhra IPO shares will get allotted on May 27, 2022. The shares will be credited to investors' accounts on May 31, 2022.

When is eMudhra IPO listing date?

eMudhra IPO's listing date is June 1, 2022.

Is eMudhra a Government company?

eMudhra Limited provides digitally signed certificates and works as a government authority. Apart from that, this company also provides various services to customers across India.

What is eMudhra digital signature?

EMudhra, a licensed certifying Authority, issues a digital signature. It is a digital key that certifies your identity as its holder and contains your identity. Further, the digital signature contains your name, email, country, APNIC account name and public key.

Who is the owner of eMudhra?

The current owner of eMudhra is Venkatraman Srinivasan. Apart from being the Founder and Chairman of eMudhra, Srinivasan is also the Founder and CEO of emSigner.

What is the operating revenue of eMudhra Limited?

The operating revenue of eMudhra limited ranges from Rs. 100 crores to Rs. 500 crores as depicted at the end of the financial year on 31 March 2021.

What is the change in EBITDA of eMudhra Limited since last year?

The EBITDA of eMudhra Limited recorded an increase of 18.95% from the previous year. Further, the book networth has also increased by 7.56%, as reflected in the financial year ending on 31 March 2021.

Who are the directors of eMudhra Limited?

eMudhra Limited is currently run by a board of six directors. Some of them are Manoj Pundalik Kunkalienkar, Nandlal Laxminarayan Sarda, Venkatraman Srinivasan and Venu Madhava.

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