Pelatro IPO: ₹190-₹200 per Share - Opens 16th, Closes 19th September 2024

Pelatro Limited offers a comprehensive customer engagement platform, mViva, which enables customer-centric interactions between companies or brands and their end users. The company helps businesses to accurately understand their customer's behaviour and needs to improve interactions with end customers. As of 31st May 2024, the Customer Engagement Platform has been implemented or is in the implementation phase in 38 telecom networks in 30 countries, including India. On 31st May 2024, the company employed 296 people.

The Objectives of the Issue

Pelatro Limited intends to utilize the Net Proceeds from the Issue towards the following objectives:

• Funding capital expenditure requirement of our company towards purchase & installation of IT equipment, computer hardware, server, and other ancillary equipment;
• Investment in the subsidiary;
• Funding the working capital needs of the company; and
• General corporate purposes.

Highlights of Pelatro IPO

Pelatro IPO is set to launch with a book-built issue of ₹55.98 crores. The issue is entirely fresh. Here are the key details of the IPO:

• The IPO opens for subscription on 16th September 2024 and closes on 19th September 2024.
• The allotment is expected to be finalised on 20th September 2024.
• Refunds will be initiated on 23rd September 2024.
• Credit of shares to Demat accounts is also expected on 23rd September 2024.
• The company will tentatively list on NSE SME on 24th September 2024.
• The price band is set at ₹190 to ₹200 per share.
• The fresh issue comprises 27.99 lakh shares, aggregating to ₹55.98 crores.
• The minimum lot size for the application is 600 shares.
• Retail investors need to invest a minimum of ₹120,000.
• The minimum investment for HNI is 2 lots (1,200 shares), amounting to ₹240,000.
• Cumulative Capital Private Limited is the book running lead manager for the IPO.
• Bigshare Services Pvt Ltd serves as the registrar.

Pelatro IPO - Key Dates

The cut-off time for UPI mandate confirmation is 5:00 PM on 19th September 2024. This deadline is crucial for investors to ensure their applications are processed successfully. Investors are advised to complete their applications well before this deadline to avoid any last-minute technical issues or delays.

Pelatro IPO Issue Details/Capital History

The Pelatro IPO is scheduled from 16th September to 19th September 2024, with a price band of ₹190 to ₹200 per share and a face value of ₹10. The total issue size is 27,99,000 shares, raising up to ₹55.98 crores through a fresh issue. The IPO will be listed on NSE SME. The pre-issue shareholding is 76,07,663 shares.

Pelatro IPO Allocation & Minimum Investment Lot Size

The IPO shares are allocated across different investor categories as follows:

Investors can place bids for a minimum of 600 shares, with additional bids required in multiples of this figure. The table below illustrates the minimum and maximum investment amounts for retail investors and HNIs, expressed in shares and monetary values.

SWOT Analysis: Pelatro Ltd

Strengths:

• Proprietary technology development and testing capabilities
• In-depth specialist knowledge
• End-to-end platform
• Highly referenceable customers
• Outstanding position in various markets with high barriers to entry
• A profitable, cost-effective business model based on an asset-friendly, automated, and scalable platform
• Growth-oriented, global customer base
• Patented technology
• Experienced and dedicated key management personnel

Weaknesses:

• Negative profit after tax in the most recent fiscal year

Opportunities:

• Expansion into new geographical markets
• Potential for diversification into new sectors beyond telecommunications
• Growing demand for customer engagement solutions globally

Threats:

• Intense competition in the customer engagement platform market
• Rapid technological changes requiring constant innovation
• Economic fluctuations affecting client spending on technology solutions

Financial Highlights: Pelatro Ltd

Below are the Standalone financial results for the Fiscal years FY24, FY23, and FY22:

Pelatro Limited's standalone financials show consistent growth over the past three fiscal years. Total assets have increased significantly from ₹1,684.50 lakhs in FY22 to ₹5,109.97 lakhs in FY24, representing a growth of about 203.4% over two years.

Total revenue has also shown steady growth, rising from ₹4,088.01 lakhs in FY22 to ₹5,915.34 lakhs in FY24, marking an increase of 44.7% over two years.

Profit after tax has improved from ₹357.03 lakhs in FY22 to ₹541.46 lakhs in FY24, representing a growth of 51.7% over two years.

Net worth has shown strong growth, increasing from ₹855.92 lakhs in FY22 to ₹1,943.22 lakhs in FY24, a growth of about 127% over two years.

Total borrowings have increased from ₹512.87 lakhs in FY22 to ₹1,867.58 lakhs in FY24, which may indicate investments in growth and expansion.