eMudhra IPO to open on May 20: Price band, subscription dates, and all you need to know

eMudhra IPO will open for public subscriptions next week on May 20, 2022. The initial share sale of digital signature certificates provider will open first for anchor investors will open on May 19, 2022. The eMudhra Initial Public Offering (IPO) will conclude on May 24, 2022, according to the Red Herring Prospectus (RHP) filed with the Securities and Exchange Board of India (SEBI). The company is planning to raise about Rs 200 crore with its initial public offer. The firm was earlier planning to mop up about Rs 200 crore with the upcoming offer. 

eMudhra IPO Subscription Dates 

eMudhra IPO will open for subscriptions on May 20, 2022, for retail investors. The last day to bid for IPO shares is May 24, 2022.

eMudhra IPO size 

eMudhra IPO will include an Offer For Sale (OFS) of 98.35 lakh shares by promoters and existing shareholders. Under the OFS, promoters Venkatraman Srinivasan and Taarav Pte Ltd will offload 32.89 lakh equity and 45.16 lakh equity shares, respectively. 

Also, Kaushik Srinivasan will divest 5.1 lakh equity shares, Lakshmi Kaushik 5.04 lakh equity shares, Arvind Srinivasan 8.81 lakh equity shares and Aishwarya Arvind 1.33 lakh equity shares. The company has recently allocated 16,03,617 shares for Rs 39 crore under a pre-IPO placement.

eMudhra IPO Price Band 

eMudhra has fixed the IPO price band at Rs 243-256 per equity share. 

How Will eMudhra utilise IPO Proceeds? 

eMudhra plans to use the funds from the fresh issue to repay debt, support working capital requirements, purchase equipment and pay for other related costs for data centres proposed to be set up in India and overseas locations, according to a PTI report. 

The company is also planning to use the initial public offer proceeds towards the development of new products, investment in eMudhra INC and for general corporate purposes. Also Read: Swiggy to acquire Dineout in a $200 million deal: 5 Important things to know.