3 days Ago By NDTV Profit News
The initial public offering (IPO) of Pelatro Ltd. opened for subscription on Monday. The IPO, an entirely fresh issue of 27.
99 lakh shares, aims to raise Rs 55.98 crore from the market. Investors can apply for shares by September 19.
Here is everything you need to know about Pelatro 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.
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 Ltd.
is the registrar of the issue, while Cumulative Capital Private Limited is the book-running lead manager of the Pelatro IPO. Shree Bahubali Stock Broking is the market maker of the IPO. The grey market premium (GMP) of Pelatro is Rs 0 as of 11:30 a.
m. on Monday, 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. 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 is under implementation in 38 telecom networks across 30 countries, including India.
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. 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..
