eMudhra IPO 2022: Key dates, price band, listing

What the eMudhra IPO was about

eMudhra came to the main board with a book-built IPO sized at ₹412.79 crore. The offer combined a fresh issue worth ₹161.00 crore and an offer for sale (OFS) worth ₹251.79 crore. The IPO price band was fixed at ₹243 to ₹256 per share, with the final issue price at ₹256 per share. The issue comprised 1,61,24,456 equity shares with a face value of ₹5 each. eMudhra is described as India’s largest licensed Certifying Authority (CA), operating across Digital Trust Services and Enterprise Solutions. The company is based in Bangalore and is mapped to the Information Technology - Data Solutions sector in the provided details.

Issue structure: fresh issue and OFS

The fresh issue component was 0.63 crore shares, aggregating to ₹161.00 crore. The OFS portion was 0.98 crore shares, aggregating to ₹251.79 crore. In share terms, the offer includes 6,289,062 equity shares in the fresh issue and 9,835,394 equity shares in the OFS, as stated in the offer summary. The total issue size is also presented as 1,61,24,456 shares (aggregating up to about ₹413 crore), consistent with the ₹412.79 crore headline size. The sale type is listed as Fresh Capital and OFS, and the issue type as a book-building IPO. The pre-IPO market cap is cited as ₹1,998.65 crore.

IPO dates: bidding, allotment and listing

Bidding opened on Friday, May 20, 2022 and closed on Tuesday, May 24, 2022. The basis of allotment was finalised on May 27, 2022. Refund initiation is shown as May 30, 2022, and credit of shares to demat accounts as May 31, 2022. The shares were listed on Wednesday, June 1, 2022 on both BSE and NSE. The IPO is repeatedly referenced as “Listed” for the May 20 to May 24, 2022 window.

Price band, lot size and minimum investment

The IPO price band was ₹243 to ₹256 per share, with the issue price at ₹256 per share. The market lot was 58 shares, and investors could apply in multiples of 58. The minimum retail application amount is stated as ₹14,094 (for 58 shares) in one place. Another table in the provided text shows “Retail Min: ₹14,848”, alongside “Issue Price: ₹243-256”; this reflects a different minimum value as presented in the source. For non-institutional investors, the sNII application size is shown as 14 lots (812 shares) amounting to ₹2,07,872, and the bNII size as 68 lots (3,944 shares) amounting to ₹10,09,664.

Investor allocation and anchor book

The IPO offers a stated allocation split across investor categories. The text specifies 50.00% for QIB (80,62,227 shares), 15.00% for NII (24,18,669 shares), and 35.00% for RII (56,43,560 shares). It also breaks the QIB bucket into 20.00% QIB (Ex-Anchor) at 32,24,891 shares and 30.00% for anchor investors at 48,37,336 shares. The anchor book raised ₹123.84 crore, with the anchor bid date stated as May 19, 2022.

Key intermediaries and identifiers

The listing venues were BSE and NSE. The BSE script code and NSE symbol are given as 543533 and EMUDHRA, respectively. The ISIN is INE01QM01018. The merchant bankers listed are Indorient Financial Services Limited, IIFL Securities Limited, and Yes Securities (India) Limited. For the registrar, one section names MUFG Intime India Pvt. Ltd., while other sections refer to Link Intime India Private Limited as the registrar used for allotment status and refunds.

Listing day performance: open, high, low and close

On listing day, the stock debuted at ₹271 on BSE and ₹270 on NSE, implying a premium of about 5.85% and 5.46% over the issue price of ₹256, respectively. Intraday, the stock touched a high of ₹279 on both exchanges. The low is listed as ₹255.40 on BSE and ₹256.00 on NSE. The “last trade” is shown as ₹258.85 on BSE and ₹257.90 on NSE in the price details table. Another passage notes the stock “ended at ₹258.85”, which is about 1.1% above the issue price.

Subscription and grey market snapshot

The IPO was subscribed 2.72 times overall. Retail participation is described as oversubscribed 2.61 times on the last day. A grey market premium (GMP) table shows GMP at ₹0 on May 31, 2022, with an estimated listing price of ₹256 (shown as 1.00% in the same row). The same table records the last updated timestamp as 31-May-2022 4:09.

Company context: what eMudhra does

eMudhra is described as a licensed digital-signature certifying authority offering services under the Information Technology Act of India, including digital-certificate solutions. Its business is split into Digital Trust Services and Enterprise Solutions. Another provided detail states it had a 37.9% market share in the digital signature certificates market in FY21. The DRHP filing date is stated as November 12, 2021, and a separate note says SEBI approval to raise funds through the IPO came in March 2022.

Snapshot table: facts from the offer and listing

Price references after listing

The provided text includes multiple “current market price” references. One line states the current market price as ₹726.70, while another states that as of September 10, 2025, the share price was ₹689.65 and compares it to a previous day’s close of ₹695.20. The same source notes the stock moved from the listing price of ₹258.85 to ₹689.65 per share, and also provides an estimated CAGR figure of approximately 35.28% based on the June 1, 2022 listing date and the cited CMP.

Why these details mattered to IPO investors

For IPO applicants, the key decision points were the ₹243-256 price band, the 58-share lot size, and the mix of fresh issue and OFS. The timetable from closing (May 24) to listing (June 1) was short, with allotment finalised on May 27 and demat credit on May 31. The subscription level of 2.72x signalled moderate demand, while the listing session showed early strength (high of ₹279) but a close near ₹258.85. The anchor raise of ₹123.84 crore and the explicit QIB-anchor split provide additional context on institutional participation.

Conclusion

eMudhra’s ₹412.79 crore IPO opened on May 20, 2022 at a ₹243-256 band, priced at ₹256, and listed on June 1, 2022 on BSE and NSE. The stock debuted at ₹270-271, hit ₹279 intraday, and was later reported around ₹258.85 on listing day. Post-listing price references in the provided text include ₹689.65 as of September 10, 2025, alongside another CMP figure of ₹726.70 from the same compilation of details. Investors tracking the IPO typically rely on the official allotment and post-issue timelines shown, including refunds on May 30 and demat credit on May 31.