eMudhra – building seamless digital and paperless experiences

Hi, A few queries:

• EBITDA margins have been going down, a year, year and half back, it was projected as a 35%-40% margin business, however, it has continuously declined and is currently at 25% (Dec 2023).
• Management has been giving the same reason of increase in employee cost due to incremental hiring in the international market, however, it is not reflected in the sales
• There were some RPT issues
• Nippon MF, CIF III Scheme I and some FPIs have subscribed to the QIP. What is the purpose of the new fund raise, is ant acquisition planned.

Thanks.