eMudhra trades at a premium of 5.46% on exchanges; Check eMudhra share price on BSE, ESN

eMudhra list: eMudhra Limited, India’s largest licensed certificate authority, made its stock exchange debut today. The company’s shares began trading on the NSE at 270 rupees per share, up 5.5% from the IPO price of 243 to 256 rupees per share. On BSE, the stock debuted at Rs 271 each. The Rs 412.79 crore IPO was subscribed by investors earlier this month and was fully subscribed by all categories except retail investors. The company had a market capitalization of Rs 2,115.76 crore when it debuted in the market. eMudhra is a Certificate Authority (CA) authorized by the Controller of Certificate Authority (CCA) for issuing digital signature certificates in India.

The issue was globally subscribed 2.27 times, thanks to strong bids from qualified institutional buyers whose quota reached 4.05 times the bids. The shares of HNI and retailers were subscribed 1.28 and 2.61 times respectively. eMudhra is the largest trusted certificate authority in India with a market share of 37.9% in the digital signature certificate market in FY21, after increasing from 36.5% in FY2021. financial year 2020.

It is a one-stop-shop for secure digital transformation and provides a wide range of services and solutions ranging from issuing certificates as a certificate authority to offering identity, authentication and of signing. Its clients include Infosys, Tata Consultancy Services, Mashreq Bank, Baud Telecom Company, Cholamandalam MS General Insurance Company and Bharti AXA Life Insurance Company.

eMudhra intends to use proceeds from the IPO to repay debt, fund working capital needs, purchase data center equipment, invest in business development, sales, marketing and other growth-related costs.

What should investors do now?

Santosh Meena, Head of Research, Swastika Investmart Ltd., said, “eMudhra Ltd. debuted at Rs. 271.45 or 6% above its issue price. The company’s lukewarm but positive rating can be attributed to the current market conditions, good outlook and reasonably good responses from retail investors. eMudhra is the largest accredited certificate authority in India and the only Indian company to be directly recognized by renowned browsers and document processing software companies such as Microsoft, Mozilla, Apple and Adobe. Moreover, eMudhra is the only Indian company to be accredited with Webtrust, which makes their digital signature certificates directly recognized by browsers around the world, allowing them to issue digital signature certificates in many countries.

“The growing demand for data privacy, data protection and digital transformation will help the company grow significantly in the medium to long term. However, the competitive nature of the industry, the company’s entry into areas uncharted geographies and business areas and the issue’s high pricing make it suitable for long-term investors after listing. Those who have requested listing gains can hold a stop loss of Rs. 260,” added Meena.

The views and investment advice of the experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before making any investment decision.

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