The first public offering (IPO) of digital signature certificate provider eMudhra was registered 2.72 times on Tuesday on the last day of registration.
The Rs 412.79 crore IPO got bids for 3,09,02,516 shares against 1,13,64,784 shares offered, according to NSE data.
The Qualified Institutional Buyers (QIBs) section was subscribed 4.05 times, the Private Retail Investors (RIIs) section was subscribed 2.61 times and the Non-Institutional Investors category was subscribed 1.28 times.
The IPO had a new issue of up to Rs 161 crore and an offer to sell up to 98,35,394 shares.
The price range for the offer was Rs 243-256 per share.
On Thursday, eMudhra Ltd raised Rs 124 crore from anchor investors.
Proceeds from the new issuance will be used to repay debt, support working capital requirements, purchase equipment and pay other related costs for the data center proposed to be set up in India and overseas locations, develop products , investments in eMudhra INC and for general business purposes.
IIFL Securities, YES Securities (India) and Indorient Financial Services were the managers of the offer.
eMudhra is the largest licensed certificate authority in India with a 37.9 percent market share in the digital signature certificate market in fiscal 2021, after growing 36.5 percent in FY20.
The company is engaged in providing digital trust services and business solutions to individuals and organizations.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)