Pelatro IPO Subscribed More Than 20 Times On Final Day; Check Latest GMP
The SME IPO has been subscribed 21.94 times as of 6:16 p.m. on Thursday.
The initial public offering of Pelatro Ltd. which opened for subscription on Monday, closed for bidding on Thursday. The offering, an entirely fresh issue of 27.99 lakh shares, aims to raise Rs 55.98 crore from the market.
The SME IPO was subscribed 0.43 times on Day 1, 1.59 times on Day 2 and 2.81 times on Day 3.
The subscription process for initial public offers ending on Sept. 18 had been extended for a day due to a bank holiday in the state of Maharashtra.
Pelatro IPO Day 4 Subscription Status
The IPO has been subscribed 21.94 times as of 6:16 p.m. on Thursday.
Qualified Institutions: 15.22 times
Non-Institutional Buyers: 55.31 times
Retail Investors: 12.58 times
The subscription status will be updated at regular intervals.
Pelatro IPO GMP Today
The grey market premium of Pelatro is Rs 0 as of 05:55 p.m. on Thursday, implying no gains over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 200 per share.
GMP is not an official price quote for the stock and is based on speculation.
Pelatro IPO Details
The price band has been fixed at Rs 190 to Rs 200 per equity share. Retail investors can bid with a minimum lot size of 600 shares, requiring an investment of Rs 1,20,000.
Bigshare Services Pvt. is the registrar of the issue, while Cumulative Capital Private Ltd. is the book-running lead manager of the Pelatro IPO.
Shree Bahubali Stock Broking is the market maker of the IPO.
Share allotment in Pelatro IPO is expected to be finalised on September 20. This will be followed by initiation of refund for non-allottees and credit of shares to demat accounts of successful bidders on September 23.
Pelatro IPO is likely to be listed on September 24. The company's shares are set to list on the NSE SME platform Emerge.
Business
According to its website, Pelatro Ltd. is a specialised solution provider in the telecom and banking marketing space. It offers a comprehensive customer engagement platform called 'mViva' that engages in customer-centric interactions between enterprises or brands and their end users. This platform helps businesses understand the behaviour and needs of customers and enhance their engagement with end users.
As of May 31, the 'mVia' platform had been implemented or was under implementation in 38 telecom networks across 30 countries, including India.
Use of Proceeds
Pelatro Ltd. plans to use the proceeds from the IPO to purchase and install IT equipment, computer hardware, servers and other ancillary equipment. The company will further use the funds to invest in its subsidiary and meet working capital needs. The rest of the proceeds will be used for general corporate purposes.
Financial Performance
The consolidated revenue of Pelatro Ltd. stood at Rs 55.36 crore for the financial year ended March 31, 2024. The company reported a loss of Rs 1.95 crore during the financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
