The Rs 412.79 crore initial public offering (IPO) of eMudhra Limited kicked off for subscription on Friday, May 20.

The company is selling its shares in the range of Rs 243-256 apiece.

eMudhra is India's largest licensed certifying authority. The company's business is divided into two vertices - digital trust services and enterprise solutions.

The company aims to raise Rs 161 crore crore via issuance of fresh equity shares

whereas existing shareholders and promoters will offload 9,835,394 shares aggregating to Rs 251.79 crore.

The issue can be subscribed till May 24. Investors can subscribe to the issue by bidding for a minimum of 58 shares and in its multiples thereof.

Brokerages have a mixed review over the issue. Majority believe that the company is at the numero uno position in the growing digital segment

whereas others say that the valuations are fully priced, leaving no headroom for further upside.