eMUDHRA Limited IPO

eMudhra Limited is India's largest licenced Certifying Authority ("CA"). The company's business is divided into two verticles Digital Trust Services and Enterprise Solutions. eMudhra Limited is engaged in the business of providing services like individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, IT policy assessment, etc.

The company has strong digital signature certificate expertise and is the only Indian company to be directly recognised by renowned browsers and document processing software companies such as Microsoft, Mozilla, Apple, and Adobe, allowing it to sell digital identities to individuals and organisations worldwide and issue SSL/TLS certificates for website authentication.

The company has issued over 50 million digital signature certificates through the network of 88,457 channel partners spread across India. As of September 30, 2021, the company is serving 36,233 retail customers and 563 enterprises.

As of September 30, 2021, eMudhra's Enterprise Solutions are used by the top 10 banks, 6 top automotive companies and 19 top companies amongst the top 500 ranked companies in India by Economic Times in Financial Year 2020.

Competitive Strengths:

• Largest licensed Certifying Authority in India.
• The company is a one-stop shop solution provider in secure digital transformation and is well-positioned to capture the favourable industry dynamics in India and globally.
• Technology certifications, accreditations and membership in international bodies.
• Technology backed infrastructure to support quality and security of services and solutions.
• Diverse, longstanding and growing customer base.
• Partnerships with leading Indian and global channel partners and enterprise solution partners.
• Experienced promoter, board of directors and senior management team.

Company Financials:

Objects of the Issue:

The Net Proceeds from the Fresh Issue are proposed to be utilized by the Company for the following objects:

1. Repayment or pre-payment, in full or in part, of all or certain borrowings.
2. Funding working capital requirements.
3. Purchase of equipments and funding of other related costs for data centers proposed to be set-up in India and overseas locations.
4. Funding of expenditure relating to product development.
5. Investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs for future growth.
6. General corporate purposes.