eMudhra gets Sebi nod for IPO

15 Mar 2022 , 04:57 PM

eMudhra Limited filed draft papers in November 2021 with Sebi. The IPO consist of fresh issue of Rs200 crore and an offer for sale of up to 8,510,638 equity shares by its existing promoters and shareholders.

The Offer for Sale comprises up to 3,289,257 equity shares by Venkatraman Srinivasan, up to 3,191,490 equity shares by Taarav Pte Ltd (The Promoter Selling Shareholders”), up to 510,638 equity shares by Kaushik Srinivasan, up to 504,307 equity shares by Lakshmi Kaushik, up to 881,869 equity shares by Arvind Srinivasan and up to 133,077 equity shares by Aishwarya Arvind (The “Other Selling Shareholders”).

The proceeds from its fresh issuance worth Rs35 crore will be utilised for the repayment or prepayment of borrowings, in full or part of all or certain borrowings; Rs40.22 crore for funding working capital requirements; Rs46.36 crore for purchase of equipment’s and funding of other related costs for data centres; Rs15.03 crore for funding of expenditure related to product development; Rs15.27 crore for investment in the company for development, sales, marketing for future growth and general corporate purposes.

eMudhra is the largest licensed Certifying Authority (“Certifying Authority” or “CA”) in India with a market share of 37.9% in the digital signature certificates market space in FY 2021, as per the Frost & Sullivan Report, represented in its DRHP document. It is a one stop shop player in secure digital transformation.

The Bengaluru-based firm is engaged in the business of providing Digital Trust Services and Enterprise Solutions to individuals and organisations functioning in various industries.

IIFL Capital Services Limited, Yes Securities (India) Limited and Indorient Financial Services Limited are the Book Running Lead Managers of the issue.