New Delhi: Shares of eMudhra Ltd, digital signature certificate provider, listed with a premium of about 6 per cent against the issue price of Rs 256, on Wednesday.
According to the BSE data, the stock made its debut at Rs 271, logging a gain of 5.85 per cent over the issue price on the BSE. Later, the shares rose 8.98 per cent to Rs 279.
On the National Stock Exchange (NSE), it listed at Rs 270, with a premium of 5.46 per cent.
The BSE tweeted pictures of the listing ceremony of eMudhra on the bourses.
Shri @ashishchauhanMD&CEO, @BSEIndia presenting BSE Coffee Table Book and memento to Shri V. Srinivasan, Chairman, eMudhra and Senior Officials from eMudhra at the listing ceremony of eMudhra on 1st June, 2022 at #BSE pic.twitter.com/txLKRfBE26
— BSE India (@BSEIndia) June 1, 2022
The initial public offering (IPO) of eMudhra was subscribed 2.72 times last month. The Rs 412.79-crore IPO had a price range of Rs 243-256 per share. The eMudhra IPO has a face value of Rs 5 per share.
At 1.30 pm, the shares of eMudhra were trading at Rs 260.50, up 1.76 per cent from the issue price on the BSE.
Half of the issue was for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
The firm plans to use proceeds from the fresh issue to repay debt, support working capital requirements, purchase equipment, and pay for other related costs for data centre costs proposed to be set up in India and overseas locations, develop products, investment in eMudhra INC and for general corporate purposes.
eMudhra is the largest licensed certifying authority in India with a market share of 37.9 per cent in the digital signature certificates market space in financial year 2021, having grown from 36.5 per cent in FY20. It has been engaged in the business of providing digital trust services and enterprise solutions to individuals and organisations.