eMudhra IPO Subscribed 0.48 Times On Day 1
Follow the latest subscription updates from day 1 of eMudhra IPO.
eMudhra Ltd. kicked off its Rs 251.8-crore initial public offering even as global volatility amid the Russia-Ukraine crisis, resurgence of Covid-19 cases in China and inflation pressures has pushed investors on the edge.
India’s largest certifying authority will issue fresh shares worth Rs 161 crore, according to its red herring prospectus. The IPO will also comprise an offer for sale of 1.61 crore shares by the promoter group and other selling shareholders. The OFS is worth Rs 251.8 crore at the upper end of the price band of Rs 243-256 apiece.
The issue together will comprise 20.8% of the post-issue equity capital.
The company will use the proceeds from the IPO for repayment or prepayment of certain borrowing, funding product development and its U.S. subsidiary and for purchase of equipment for proposed data centers.
eMudhra IPO: All You Need To Know
Subscription Status: Day 1
The IPO was subscribed 0.48 times or 48% as of 5 p.m. on May 20.
Institutional investors: 0 times.
Non-institutional investors: 0.04 times.
Retail investors: 0.94 times.