The company, according to the Red Herring Prospectus (RHP), is a technology and software development solution and consultancy service that aids client businesses in achieving growth, revenue, and market value. The business has established relationships and experience with a number of industry players who offer the newest tools, software development solutions, and technologies.
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The US-based firm delaPlex INC owns 51% of the shares of delaPlex Limited (dpl), which is a subsidiary of delaPlex INC.
As per the RHP, the company’s listed peers are Ksolves India Ltd (with P/E of 65.06), Micropro Software Solutions Ltd (with P/E of 10.29), and Sigma Solve Ltd (with P/E of 255.66).
Between March 31, 2022, and March 31, 2023, delaPlex Ltd’s profit after tax (PAT) climbed by 29.23%, while the company’s revenue increased by 9.69%.
delaPlex IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The market maker portion is upto 122,400 equity shares or 5.10% of the offer.
Tentatively, delaPlex IPO basis of allotment of shares will be finalised on Wednesday, January 31, and the company will initiate refunds on the same day itself, while the shares will be credited to the demat account of allottees on the Thursday, February 1. delaPlex share price is likely to be listed on NSE SME on Friday, February 2.
delaPlex IPO details
delaPlex IPO, which is worth ₹46.08 crore, consists of fresh issue of 1,800,000 shares aggregating to ₹34.56 crore, and Offer-for-Sale (OFS) of 600,000 shares of ₹10 apiece aggregating to ₹11.52 crore.
Nitin Sachdeva, Manish Iqbalchand Sachdeva, Mark T. River, Preeti Sachdeva, and M/s delaPlex INC. are the company’s promoters.
The company intends to use the net proceeds from the new offering to finance the following goals: APAC – Increasing awareness through advertising, sales, and marketing; financing the company’s working capital requirements; financing the company’s capital expenditure requirements for office laptop purchases; general corporate purposes; and an undisclosed inorganic acquisition, as per the RHP.
The registrar of the delaPlex IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Shreni Shares Limited. Shreni Shares is the market maker for the delaPlex IPO.
delaPlex IPO subscription status
delaPlex IPO subscription status is 3.05 on day 1. The issue received positive response from retail investors who’s portion set was subscribed 4.94 times, and non-institutional buyers who’s portion was subscribed 1.95 times, as per data available on chittorgarh.com. Qualified Institutions Buyers (QIBs) portion has been booked 58%.
The company has received bids for 48,63,000 shares against 15,94,800 shares on offer, according to data on chittorgarh.com.
delaPlex IPO GMP today
delaPlex IPO GMP or grey market premium is +125, similar to the previous session. This indicates delaPlex share price were trading at a premium of ₹125 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of delaPlex share price was indicated at ₹317 apiece, which is 65.1% higher than the IPO price of ₹192.
Based on last 8 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹125, as per investorgain.com analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 25 Jan 2024, 06:16 PM IST