September 24, 2024
New Delhi, India
Pelatro IPO
Shares of Pelatro Ltd made a strong debut on the NSE SME platform on September 24, listing at ₹275 per share, which is a 37.5% premium over its issue price of ₹200. The company’s IPO, which was subscribed 21.73 times, saw significant demand from non-institutional investors, who bought 55 times their reserved portion, while Qualified Institutional Buyers (QIBs) subscribed 15 times, and retail investors picked 12.16 times their portion.
IPO Overview and Subscription
Pelatro’s IPO was a book-built issue worth ₹55.98 crore, consisting of a fresh issue of 28 lakh shares. The public offering, open for subscription from September 16 to 19, 2024, was aimed at funding capital expenditures, purchasing IT equipment, investing in its subsidiary, and meeting working capital needs.
Also read: Northern Arc Capital IPO Debut at 33% Premium, Drop 5% Post-Listing
Strong Market Debut
Despite muted expectations in the grey market, Pelatro’s shares saw a strong market response, touching an intraday high of ₹288.75 within minutes of the opening. The IPO was considered a solid success in the SME segment, reflecting strong investor confidence in the company’s future growth potential.
Also read: Envirotech Systems SME IPO Lists at 90% Premium, Hits Upper Price Band
Pelatro’s mViva Platform
Pelatro offers the mViva customer engagement platform, which enables businesses to engage with end-users by providing insights into customer behavior. The platform is designed for ease of use, allowing marketers without technical expertise to create both short- and long-term customer journeys. It processes large amounts of data across nearly a billion consumers in 30 countries and has been implemented in 38 telecom networks.
Pelatro aims to use the proceeds to support its expansion and strengthen its customer engagement solutions globally.
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