eMudhra IPO listing today: Shares likely to debut around issue price, says Anil Singhvi

eMudhra IPO listing date: Shares of eMudhra IPO (initial public offer) are all set to be listed on the exchanges on Wednesday, June 1, 2022. The three-day IPO, which opened for subscriptionon May 20 and concluded on May 24, is expected to make a flat to positive debut.  

Zee Business Managing Editor Anil Singhvi expects the shares to list around IPO price. "Expected to list near or slightly below issue price of Rs 256," said Singhvi in his IPO preview.   

"The company doesn’t have a listed peer in India and the valuations demanded had priced in most of the positives. We expect a positive listing for the issue," said Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd. 

The IPO of digital signature certificate provider was subscribed 2.72 times on the last day of subscription on May 24. Against 1,13,64,784 shares on offer. The IPO received bids for 3,09,02,516 shares on the final day of the subscription. 

Earlier, Digital signature certificate provider eMudhra set a price band of Rs 243-256 a share. At the upper end of the price band (Rs 256), the IPO was expected to raise Rs 412.79 crore. Half of the issue was for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.    

The company plans to use proceeds from the fresh issue to repay debt, support working capital requirements, purchase equipment and pay for other related costs for data centre costs proposed to be set up in India and overseas locations, develop products, investment in eMudhra INC and for general corporate purposes.