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The Rs 412.79 crore initial public offering (IPO) of eMudhra, India's largest licensed certifying authority, started for public subscription on Friday. The issue will remain open for subscription till May 24.
In the first hour of the opening of the subscription, the IPO was subscribed 20 per cent. The retail quota was subscribed 63 per cent. The company has set a price band of Rs 243-256 apiece. At the upper end of the price band, the company would mop up Rs 412.79 crore through the IPO. According to a circular uploaded on the BSE website, eMudhra Ltd has raised Rs 123.83 crore by selling 48,37,336 equity shares to anchor investors at Rs 256 per share. The IPO is a mix of Offer-For-Sale (OFS) and fresh issue of shares. Existing shareholders and promoters will offload 9,835,394 shares aggregating to Rs 251.79 crore. The company also aims to raise Rs 161 crore via the issuance of fresh equity shares. Investors can subscribe to the issue by bidding for a minimum of 58 shares and in its multiples thereof. (ANI)
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