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eMudhra Limited IPO 

eMudhra Limited Logo

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:

  • Largest licensed Certifying Authority in India.
  • The company is a one-stop shop solution provider in secure digital transformation and is 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.

Company Financials:

ParticularsFor the year/period ended (Rs in millions)
 31-Dec-2131-Mar-2131-Mar-2031-Mar-19
Total Assets2,541.111,919.141,587.111,195.15
Total Revenue1,383.041,324.541,167.991,016.80
Profit After Tax303.40253.59184.16174.36

Objects of the Issue:

The Net Proceeds from the Fresh Issue are proposed to be utilized by the Company for the following objects:

  1. Repayment or pre-payment, in full or in part, of all or certain borrowings.
  2. Funding working capital requirements.
  3. Purchase of equipments and funding of other related costs for data centers proposed to be set-up in India and overseas locations.
  4. Funding of expenditure relating to product development.
  5. Investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs for future growth.
  6. General corporate purposes.

eMudhra IPO Details

eMudhra IPO DateMay 20, 2022 to May 24, 2022
eMudhra IPO Face Value₹5 per share
eMudhra IPO Price₹243 to ₹256 per share
eMudhra IPO Lot Size58 Shares
Issue Size[.] shares of ₹5
(aggregating up to ₹412.79 Cr)
Fresh Issue[.] shares of ₹5
(aggregating up to ₹161.00 Cr)
Offer for Sale9,835,394 shares of ₹5
(aggregating up to ₹251.79 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
QIB Shares OfferedNot more than 50% of the Net Offer
Retail Shares OfferedNot less than 35% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the Net Offer
Company PromotersVenkatraman Srinivasan and Taarav Pte. Limited are the company promoters.

eMudhra IPO Timeline

eMudhra IPO opens on May 20, 2022, and closes on May 24, 2022. The eMudhra IPO bid date is from May 20, 2022 10.00 A.M. to May 24, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

EventDate
eMudhra IPO Opening DateMay 20, 2022
eMudhra IPO Closing DateMay 24, 2022
Basis of AllotmentMay 27, 2022
Initiation of RefundsMay 30, 2022
Credit of Shares to DematMay 31, 2022
eMudhra IPO Listing DateJun 1, 2022

eMudhra IPO Lot Size

The eMudhra IPO lot size is 58 shares. A retail-individual investor can apply for up to 13 lots (754 shares or ₹193,024).

ApplicationLotsSharesAmount
Minimum158₹14,848
Maximum13754₹193,024

eMudhra IPO Promoter Holding

Pre Issue Share Holding84.47%
Post Issue Share Holding

eMudhra IPO Review

EML is posting growth in its top and bottom lines with a gradually rising market share. List of its blue-chip clientele, it is poised for bright prospects ahead. However, as informed by the management, the company is operating in a highly competitive segment. The issue is fully priced based on its financial track records so far. Investors may consider an investment with a long term perspective. Read detail review

eMudhra IPO Prospectus

Company Contact Information

eMudhra Limited
Sai Arcade, 3rd Floor,
No. 56 Outer Ring Road, Devarabeesanahalli,
Bengaluru 560103,
Phone: 080-4227 5300
Email: [email protected]
Website: https://www.emudhra.com/index.jsp

eMudhra IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: [email protected]
Websitehttps://linkintime.co.in/

eMudhra IPO Lead Manager(s)

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