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Stock Report
eMudhra Limited shares lists on bourses; closes at premium to its issue price
Posted On : 2022-06-01 22:41:54( TIMEZONE : IST )
Bengaluru-based eMudhra Limited ("Company"), 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, listed on the NSE at Rs 270 at 5.47% premium over its issue price. The scrip got listed at BSE at Rs 271 per share, 5.86% per cent premium over its issue price of Rs 256. The company's share price closed at Rs 258.85 per share on the BSE, a 1.11% premium, and at Rs 256.10 per share on the NSE, an 0.04% premium.
As per NSE, the total quantity traded stood at 7.38 lakh shares, on BSE the total Quantity stood at 5.54 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 209.73 crore.
The Market Capitalization of the Company post today's closing price stood at Rs. 2020.90 Crore as per BSE and Rs. 1998.65 Crore as per NSE.
The initial share sale with a face value of Rs 5 per equity share, consists of a fresh issue of equity shares aggregating to Rs 161 crore and an offer for sale (OFS) of up to 9,835,394 equity shares and the issue was closed on 24th May 2022.
The proceeds from its fresh issuance worth Rs 35 crore will be utilised for the repayment or prepayment of borrowings, in full or part of all or certain borrowings; Rs 40.22 crore for funding working capital requirements; Rs 46.36 crore for purchase of equipment's and funding of other related costs for data centres; Rs 15.03 crore for funding of expenditure related to product development; Rs 15.27 crore for investment in the company for development, sales, marketing for future growth and general corporate purposes.
The Qualified Institutional Investors and Retail investors' portion were subscribed 4.05 and 2.61 times respectively. Non Institutional Investors portion was subscribed 1.28 times. Overall the issue was subscribed 2.72 times.
IIFL Securities Limited, Yes Securities (India) Limited, and Indorient Financial Services Limited are the Book Running Lead Managers and Link Intime India Private Limited is the registrar to the Issue.
Company Information
eMudhra is engaged in the business of providing Digital Trust Services and Enterprise Solutions to individuals and organisations functioning in various industries.
Since inception it has issued over 50 million digital signature certificates for 1.43 Lakh retail customers and as of December 31, 2021, it had 91,259 channel partners for Digital Trust Services spread across various States and Union Territories in India, and out of its 539 system integrator partners, 267 were present in India and balance present internationally across United States of America, Europe, Middle East and Africa and Asia Pacific, where it provides its solutions and services.
The company reported a jump of 13% in its revenue from operations to Rs 131.59 crore for the year ending March 31, 2021 from Rs 116.45 crore in the previous year, primarily due to increase in the international operations especially in Middle East and Africa (MEA) region and due to increase in average realisation in digital signature certificates. The company's profits grew 37.68% in FY21 to Rs 25.36 crore, from Rs 18.42 crore in FY20. For the nine-month period ended December 31, 2021 revenue from operations stood at 137.24 crore, and net profit stood at Rs 30.34 crore.
