The initial public offering (IPO) of Pelatro was subscribed 0.43 times by the end of the first day. Retail investors subscribed to 0.79 times of their portion, while the non-institutional buyers’ portion was subscribed 0.18 times, according to data from Chittorgarh.com.
A total of 798,600 shares were bid for, out of the 1,876,800 shares available.
IPO Details
Pelatro aims to raise ₹55.98 crore through this IPO, offering 2.799 million fresh shares. The price range is set at ₹190 to ₹200 per share, with a face value of ₹10. Retail investors need to invest a minimum of ₹1,20,000 for 600 shares in one lot.
The allotment of shares is expected to be finalised by Friday, September 29, 2024, and the shares will be listed on the NSE SME platform by Tuesday, September 24, 2024.
Use of Funds
The company plans to use the funds for various purposes, including capital expenses, purchasing IT equipment, investing in its subsidiary, and funding working capital.
About Pelatro
Pelatro is a global technology company that developed a customer engagement platform called mViva. This platform allows businesses to interact with their customers based on behaviour. mViva processes data from almost a billion consumers in 30 countries, helping companies understand customer habits and improve engagement.
The platform offers a wide range of services, such as data collection, analysis, and targeted marketing campaigns. It is user-friendly, designed for marketers without technical knowledge, and supports creating both short and long-term customer journeys.
As of May 31, 2024, mViva is being used or implemented across 38 telecom networks in 30 countries, including Asia, Africa, the Middle East, and Europe.
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