Pelatro IPO: Shares list at 37.5% premium over IPO price on NSE SME

The company plans to use the proceeds from the issue to fund capital expenditures for purchasing and installing IT equipment

Shares of Pelatro made a muted stock market debut on September 24 after they listed at Rs 275, a premium of 37.5 percent over the issue price of Rs 200 per share on NSE's SME platform.

The listing is broadly in line with the grey market estimates where shares were trading without a premium. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.

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Pelatro was a book-built issue of Rs 55.98 crore and was purely a fresh issue of 28 lakh shares. The issue was subscribed just 21.73 times with non-institutional investors buying 55 times the portion reserved for them. QIBs bought 15 times while retail investors picked 12.16 times the portion reserved for them.

Pelatro offers a comprehensive customer engagement platform, mViva, which facilitates customer-centric interactions between brands and their end users. The platform helps businesses gain insights into customer behavior and needs, enhancing interactions through end-to-end capabilities that include data collection, analytics, audience selection, and reporting.

The company plans to use the proceeds from the issue to fund capital expenditures for purchasing and installing IT equipment and ancillary devices, invest in its subsidiary, meet its working capital needs, and cover general corporate purposes.

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