eMudhra IPO
eMudhra Limited (EMUDHRA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 01 June 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +3.6% (likely range -11% to +8%), day's high +8.7%, chance of a gain 51%. Actual: +5.5% at the open, +9.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 31,34,329 | 1,26,87,152 | 4.05x | |
| NII (HNI) total | 24,69,137 | 31,72,194 | 1.28x | |
| Retail | 57,61,318 | 1,50,43,170 | 2.61x | |
| Total | 1,13,64,784 | 3,09,02,516 | 2.72x |
Bids on NSE and BSE together, as published by NSE, as of 24 May 2022, 05:00 PM. Shares offered exclude the anchor portion. 42% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to eMudhra's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| ShalbyDec 2017 | 4.34x | 0.42x | 2.98x | 2.82x | ₹515 Cr | -3.4% | +2.7% |
| Suryoday Small Finance BankMar 2021 | 2.18x | 1.31x | 3.09x | 2.37x | ₹582 Cr | -4.3% | -2.8% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| Precision CamshaftsJan 2016 | 2.62x | 0.73x | 2.01x | 1.91x | ₹424 Cr | -11.3% | -0.5% |
| Angel BrokingSep 2020 | 5.74x | 0.69x | 4.31x | 3.94x | ₹602 Cr | -10.1% | -3.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| IIFL Securities | 94 | +19.3% | 71% |
| YES Securities (India) and Indorient Financial Services | — | — | — |
Offer documents (NSE)
Frequently asked
What is the eMudhra IPO price band and lot size? ₹243–256 per share, with a lot of 58 shares, so the smallest retail bid is ₹14,848.
How many times has it been subscribed? 2.72x overall: QIB 4.05x, NII 1.28x, retail 2.61x.
How did it list? It opened at ₹270, +5.5% against the issue price of ₹256, and closed its first day +0.7%.
