Pelatro IPO: NSE SME issue booked over 21 times on last day, check subscription details

Pelatro Limited IPO closed with a strong demand on the final day of bidding on Thursday, September 19, as the public offer was booked 21.72 times.

The initial public offering (IPO) of the customer-centric business solutions provider received bids for more than 4.07 crore shares compared to 18.76 lakh shares on offer.

The Non-Institutional Investors (NIIs) led the demand for the IPO with bids for over 2.18 crore shares against 3.92 lakh shares set aside for the category, booking the portion 55.62 times.

The issue was subscribed 12 times in the retail category with applications for 1.09 crore shares against 9.13 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) quota was booked 15.21 times with an application for 79.33 lakh shares against 5.21 lakh shares set aside for the category. The employees applied for 50,400 shares.

Pelatro Limited IPO offer size, price band and other details

The Pelatro IPO was a book-building issue worth ₹55.98 crore. The NSE SME issue consisted of an entirely fresh issue of 27.99 lakh shares. The IPO price band was fixed between ₹190 and ₹200 per share.

The registrar of the company's initial public offering is Bigshare Services Private Limited, while the book-running lead manager is Cumulative Capital Private Limited.

Shree Bahubali Stock Broking is the market maker for the company's IPO.

Pelatro Limited IPO dates

After the successful subscription, the IPO allotment status is likely to be finalised on Friday, September 20.

Refunds will be initiated for unsuccessful bidders on September 20 and shares will be credited to successful bidders demat accounts on September 23.

The IPO listing date has been tentatively scheduled as September 24. Shares of Pelatro Limited will be listed on the NSE SME platform.

Pelatro Limited IPO objective

The company plans to use the proceeds for funding capital expenditure for the purchase and installation of IT equipment, computer hardware, servers and related ancillary equipment. A portion of the funds will be invested in the subsidiary while funds will also be allocated for the company's working capital needs as well as general corporate purposes.

About Pelatro Limited

Pelatro Limited provides a comprehensive customer engagement platform called mViva, which is designed to facilitate customer-centric interactions between companies or brands and their end users.

The company assists businesses in accurately understanding customer behaviour and needs enhancing their interactions with end customers.

The platform offers end-to-end capabilities, including data collection, analytics, intelligence gathering, audience selection, configuration, execution and reporting.

Pelatro's core product offerings include campaign management solutions, loyalty management solutions, lead management solutions and data monetisation solutions.