Rs. 243 to Rs. 256 Prize Band Determined
AHMEDABAD: Digital security company E-Mudra Limited (“Company”) has set a price band of Rs.243 to Rs.256 per share for its first public offer. The company’s initial public offering (“IPO” or “offer”) will open for subscription on May 20, 2022 and close on May 24, 2022. Investors can bid for at least 58 equity shares and then more in multiples of 58 equity shares.
The total in this IPO is Rs. Includes fresh issue of 161 crore equity shares and offer for sale (OFS) up to 9,835,394 equity shares.
E-Mudra is the largest licensed Certifying Authority in India (“Certifying Authority” or “CA”) with a market share of 37.9% in digital signature certificates in FY 2021, according to the Forrest & Sullivan Report, as presented in its DRHP document. It is a one stop shop player in Secure Digital Transformation.
The Bengaluru-based company is engaged in providing digital trust services and enterprise solutions to individuals and organizations working in various industries.
Since its inception, it has issued more than 50 million digital signature certificates to 1.43 lakh retail customers and as on December 31, 2021, it had 91,259 channel partners for digital trust services across various states and union territories in India.
And 267 of its 539 System Integrator partners were present in India and the remaining partners have an international presence in the United States of America, Europe, the Middle East and Africa, Asia Pacific where it provides its own solutions and services.
It also provides services and digital products to various government agencies and state governments and as such is a key player in enabling paperlayer transactions as part of Digital India. Its customers include Infosys Ltd., Tata Consultancy Services Ltd.,
Meshrek Bank, Baud Telecom Company, Cholamandalam S.S. There are other companies including General Insurance Company Limited, Bharti AXA Life Insurance Company Limited which are working in various industries like Banking, Insurance, Telecom, Information Technology etc.
The company reported an increase of 13% in revenue from its operations for the year ended March 31, 2021 to Rs. 131.59 crore as against Rs. 116.45 crore, mainly due to expansion internationally and especially in the Middle East and Africa (MEA) as a result of growth in the average realization of digital signature certificates.
The company’s profit rose 37.68% to Rs 25.36 crore in FY21 from Rs 18.42 crore in FY20. Revenue from operations for a period of nine months ending 31st December 2021 is Rs. 137.24 crore and a net profit of Rs. 30.34 crore.