Stock Market update: eMudhra shares makes debut, list at 5% premium

On Wednesday, June 1, the shares of eMudhra made a positive debut in the stock market. The shares are listed at Rs 270/ piece on the National Stock Exchange (NSE) with a premium of 5%. On the Bombay Stock Exchange (BSE) the shares are listed at Rs 271/ piece.

The initial public offering (IPO) of eMudhra was subscribed 2.72 times on the last day of subscription. The IPO was worth Rs 413 crore and got bids for 3,09,02,516 shares against 1,13,64,784 shares offered by the company. It raised an additional Rs 124 crore from anchor investors.

“The company’s tepid yet positive listing can be attributed to current market conditions, good prospects, and reasonably good responses from retail investors. The growing demand for data privacy, data protection, and digital transformation will help the company grow substantially in the medium to long term,” said Santosh Meena of Swastika Investment Ltd.

The company plans to use the proceeds from the IPO for repaying debts and building capital. eMudhra is a digital signature certificate provider and has a market share of 37.9%.