DelaPlex SME IPO: Check price band, GMP, financials, risks and listing date

DelaPlex IPO will likely list on NSE SME with a tentative listing date fixed as Friday, February 2, 2024.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

The Rs 46-crore initial public offering (IPO) of DelaPlex Limited will open for subscription on January 25. The IPO, a combination of a fresh issue and an offer for sale, will close on January 30.

Incorporated on February 12, 2004, DelaPlex Limited is a subsidiary of delaPlex INC., a U.S.-based enterprise. DelaPlex INC. The company provides technology and software development solutions and consulting services to help clients achieve growth, revenue, and marketplace value.

Here are the key details of the issue

The issue is a combination of a fresh issue of 18 lakh shares worth Rs 34.5 crore and an offer for sale of six lakh shares aggregating to Rs 11.52 crore.

The price band for the offer has been fixed at Rs 186-Rs 192 per share.

Investors can bid for a minimum of 600 shares and in multiples thereof.

For the year ended March 2023, the company's revenue from operations stood at Rs 54 crore, a jump of nearly nine percent when compared to the same period previous year where the company reported a revenue of Rs 49.7 crore.

As for the net profit, it stood at Rs 7.9 crore for the year ended March 2023, compared to Rs 6.1 crore in the same period of the previous year.

The company proposes to utilize the proceeds for advertisement, sales and marketing expenses, funding working capital requirements for the company, purchasing laptops, and the rest for general corporate purposes.

Nitin Sachdeva, Manish Iqbalchand Sachdeva, Mark T. River, Preeti Sachdeva and DelaPlex INC are the promoters of the company.

Shreni Shares Limited is the book-running lead manager of the DelaPlex IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for DelaPlex IPO is Shreni Shares.

i) The company is dependent on a few customers for revenues, mainly its corporate promoter and one of its group companies. Further, it does not have any long-term commitments from customers and any failure to continue existing arrangements could adversely affect business and results of operations.

ii) The company's revenue from operations is highly dependent on customers located in the United States. Worsening economic conditions or factors that negatively affect the economic conditions of the United States could harm the business, financial conditions and profitability of the company.

iii) DelaPlex relies on a third party for providing cloud services and ineffective management of this relationship or agreement could increase the company’s financial, legal, reputational and operational risk.

The grey market premium (GMP) surged by Rs 86, or 44.2 percent, over the issue price of Rs 192 on January 24. The GMP implies a listing price of Rs 277.

The grey market is an unofficial ecosystem where shares start trading much before the allotment and until the listing day. Investors typically track the grey market premium (GMP), which can fluctuate wildly, to get an indication of the listing price.

DelaPlex IPO will likely list on NSE SME with a tentative listing date fixed as Friday, February 2, 2024.