eMudhra IPO Shares Listing: Shares List At Over 5% Premium On NSE

eMudhra, the entity offering digital certificates will see its Dalal Street debut today. The shares on the NSE opened at Rs. 270 as against the issue price of Rs. 256, a premium of over 5%.

There had been a view that amid volatile market conditions, negative grey market premium and weak response to the IPO, the issue may see weak listing.

The public offer comprising a fresh issue of Rs. 161 crore together with OFS was subscribed 2.72 times over the 1.13 crore shares that were on offer. eMudhra IPO received bids of over 3.09 crore shares against the total issue size of over 1.13 crore shares, according to the data available with National Stock Exchange (NSE).

Commenting on the eMudhra IPO valuation, Hem Securities said, "Company is bringing the issue at price band of Rs 243-256 per share at p/e multiple of 49x on post issue annualized 9Months FY22 eps basis."

eMudhra Share Listing Today

"e-Mudhra Limited received a soft response from the investors owing to rich pricing and jittery primary market sentiments. The company has significant market share but intensifying competition cannot be ruled out. Thus, as per the current scenario, the issue may list around Rs 250-260 near its issue price," Abhay Doshi, founder at UnlistedArena.com is quoted as saying in a leading dailies.