Pelatro, a company that provides customer engagement platforms, made a big splash on the NSE SME platform when its shares listed more than 37 per cent above the issue price.
The Stock Exchange data indicates that the company's shares began trading at Rs 275 per share, indicating a 37.5 pe cent increase over the Rs 200 issue price per share. Due to investors' string buying, the stock increased by an additional 5 per cent to reach the upper circuit at Rs 288.75 per share.
Listing Gains
The company fixed the lot size at 600 shares, and the minimum investment required was Rs 1,20,000 per lot.At the listing price of Rs 275 per share, IPO investors made total gains of Rs 45,000 per lot.
Pelatro Ltd IPO details
Price band and issue size
To raise Rs 55.98 crore from investors, Pelatro Ltd. held its initial public offering (IPO) from September 16 to 19. An additional 27.99 lakh shares were issued as part of the Pelatro IPO.
For the IPO, the company set the price range at Rs 190 to Rs 200 per share. A minimum investment of Rs 1,20,000 was needed, and the minimum lot size was 600 shares.
Total subscription received
Pelatro Ltd. IPO was booked 21.72 times by the time bidding ended on September 19, riding high demand.
In contrast to the 18.76 lakh shares that were offered, applications for the customer-focused business solutions provider's IPO totalled over 4.07 crore shares.
Subscription across category
Over 2.18 crore shares were bid on by non institutional investors (NIIs), compared to the 3.92 lakh shares reserved for them. There were 55.62 bookings for the NII portion.
There were 12 times bookings in the retail individual investor category. Against the 9.13 lakh shares reserved for the segment, applications for 1.09 crore shares were received.
15.21 times as many qualified institutional buyers (QIBs) as available were signed up. Out of the 5.21 lakh shares reserved for the category, bids for 79.33 lakh shares were received. A bids for 50,400 shares was made by the staff members.
