eMudhra ends flat on debut after 9% spike over IPO price in intraday trade

Shares of digital certificates provider eMudhra ended little changed over their issue price on Monday. The stock closed at Rs 259, up Rs 3, or 1.1 per cent over its issue price of Rs 256. The stock touched a high of Rs 279 and a low of Rs 255 on the BSE.

eMudhra’s Rs 413-crore IPO had garnered 2.7 times subscription. Through the IPO, eMudhra raised Rs 200 crore in fresh capital and the remaining was a secondary sale. The retail investor portion of the issue was subscribed 2.6 times. The high networth individual and institutional investor portion were subscribed 4 times and 1.3 times respectively.

At the last close, the company was valued at Rs 2,021 crore. The stock currently trades at nearly 50 times its trailing 12-month earnings, said an analyst.