eMudhra IPO subscribed 96% on day 2, issue subscribed 1.7 times

eMudhra’s IPO was subscribed 96 per cent on Monday, a day before its close. The retail investor portion of the issue was subscribed 1.7 times. 

The high-net-worth individual and institutional investor portion were subscribed 25 per cent and 16 per cent respectively. 

eMudhra has priced the IPO between Rs 243-256 per share. At the top-end, the company is valued at Rs 2,000 crore. The IPO comprises Rs 200 crore fresh fund raise and Rs 213 crore secondary share sale. 

eMudhra is engaged in the business of providing digital trust services and enterprise solutions to individuals and organisations. Digital trust services offers digital certificates , while enterprise solutions vertical offers paperless transformation solutions.