eMudhra shares surge 20% in early deals; here's why 

Shares of eMudhra Ltd surged 20% in early deals on Tuesday. eMudhra is India's largest licensed Certifying Authority and a prominent global provider of digital trust, cybersecurity, and public key infrastructure solutions. The rally in the stock comes after eMudhra incorporated LEI application and renewal into its established identity-verification and onboarding processes.

The Global Legal Entity Identifier Foundation (GLEIF) announced eMudhra’s appointment as a Validation Agent of Legal Entity Identifier India Limited (LEIL) in the Global LEI System, enabling this integration.

eMudhra stock surged 20% to Rs 593.60 in early deals today against the previous close of Rs Rs 494.70. Market cap of the firm rose to Rs 4634 crore.

eMudhra will serve as a Validation Agent for LEIL, a GLEIF-accredited Legal Entity Identifier (LEI) issuer and a wholly owned subsidiary of the Clearing Corporation of India Ltd (CCIL).

LEIL is currently the only LEI issuer recognised by the Reserve Bank of India (RBI) in India under the Payment and Settlement Systems Act.
 
The partnership will allow eMudhra to integrate LEI application and renewal services into its existing identity verification and customer onboarding workflows. This is expected to simplify the process for organisations by eliminating the need to undergo separate verification checks across multiple platforms.

Under the arrangement, LEIL will be responsible for issuing and maintaining LEI records, ensuring that they remain compliant with the requirements of the Global LEI System.

Bengaluru-based eMudhra is a global provider of digital identity, authentication, and trust services for customers in over 35 countries. As India’s largest licensed Certifying Authority and a globally recognized public Certificate Authority, it brings proven expertise in public key infrastructure (PKI), electronic signatures, identity and access management, and certificate lifecycle management to the Global LEI System.