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The ₹412.80-crore initial public offering (IPO) of eMudhra Opens for subscription on Friday. The price band for the public issue has been set at ₹243–256 per equity share and the lot size is 58 shares.
The IPO consists of a fresh issue of ₹161 crore and an offer for sale of up to 98.35 lakh shares. The issue will close on Tuesday.
Utility of funds
Out of the funds mobilised through fresh issue, ₹35 crore will be utilised for the repayment of borrowings, ₹40.22 crore for funding working capital requirements; ₹46.36 crore for purchase of equipments and funding of other related costs for data centres; ₹15.03 crore for funding of expenditure related to product development; ₹15.27 crore for investment in the eMudhra Inc. (US) for development, sales, marketing for future growth and balance for general corporate purposes.
The Bengaluru-based company on Thursday garnered ₹123.83 crore from anchor investors.
The company informed the bourses that it has allocated 48,37,336 shares at ₹256 a share to nine anchor investors — Aditya Birla Sun Life Digital India Fund, Aditya Birla Sun Life Small Cap Fund, Motilal Oswal Dynamic Fund, Nippon India Small Cap Fund, SBI Technology Opportunities Fund, Baring Private Equity India, Hornbill Orchid India Fund, Pinebridge India Equity Fund and Abakkus Growth.
About eMudhra
eMudhra is engaged in the business of providing digital trust services and enterprise solutions to individuals and organisations functioning in various industries.
Some of its customers include Infosys, TCS, Bharti AXA Life Insurance Company, Larsen & Toubro Infotech, Hindalco Industries, Mashreq Bank, etc.
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.
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