Shares of Pelatro made a strong debut on the stock market on September 24, listing at ₹275, a 37.5% premium over the IPO issue price of ₹200 per share on NSE's SME platform. This performance highlights investor confidence, making it a notable event for those looking to invest in IPO opportunities.
Grey market performance and expectations
The listing closely aligned with grey market predictions, where Pelatro shares were trading without any significant premium. In the grey market, stocks often begin trading well before the official subscription period and continue until the day of listing, offering a glimpse into investor sentiment for those who invest in IPO shares early on.
Although Pelatro’s grey market activity didn’t show a strong premium, the official listing proved otherwise.
Subscription and demand breakdown
Pelatro’s IPO was a book-built issue valued at ₹55.98 crores, consisting entirely of fresh equity shares totalling 28 lakh units. The IPO saw robust demand, being oversubscribed by 21.73 times. Non-institutional investors, in particular, showed strong interest, subscribing to 55 times the portion reserved for them.
Qualified Institutional Buyers (QIBs) and retail investors also demonstrated enthusiasm, subscribing 15 times and 12.16 times, respectively. These figures indicate a strong appetite among diverse investor groups to invest in IPO opportunities such as Pelatro.
Pelatro’s customer engagement platform: mViva
Pelatro's flagship product, mViva, offers a comprehensive customer engagement platform that facilitates meaningful brand-to-consumer interactions. The platform enables businesses to understand customer behaviours through advanced data analytics, allowing for more personalised interactions.
mViva's end-to-end capabilities, including data collection, audience selection, and reporting, make it a valuable tool for brands seeking to enhance customer experiences. Such innovations provide a compelling reason for investors to consider companies like Pelatro when they invest in IPOs within the tech sector.
Use of IPO proceeds
Pelatro plans to utilise the funds raised from the IPO for a range of purposes aimed at supporting its growth. A significant portion will be allocated to capital expenditures, such as the purchase and installation of IT equipment and related devices. The company also plans to invest in its subsidiary and meet its working capital needs.
Additionally, a part of the proceeds will go toward general corporate purposes. These strategic allocations are designed to enhance Pelatro's operational capabilities, further strengthening its position in the market and offering growth potential for those who choose to invest in IPOs like Pelatro.
A boost for investors seeking new opportunities
For investors looking to invest in IPOs, Pelatro’s performance on its listing day serves as a promising example. The strong subscription numbers and the listing premium suggest that Pelatro’s growth trajectory is aligned with investor expectations.
As the company continues to innovate with its mViva platform and expand its operations, those who invest in IPOs may find Pelatro an attractive option in the customer engagement and tech space.
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