Everything You Need to Know About the Pelatro IPO: Key Details, Objectives, and Review

Pelatro IPO is total issue size of ₹55.98 crore, consisting of a fresh issue of 27.99 lakh shares. The IPO subscription period is from September 16, 2024 to September 19, 2024 and finalization of allotment is expected by September 20, 2024. Pelatro will be listed on NSE SME on an expected date of September 24, 2024.

Pelatro IPO Details:

IPO Date: September 16, 2024, to September 19, 2024
Listing Date: September 24, 2024 (tentative)
Face Value: ₹10 per share
Price Band: ₹190 to ₹200 per share
Lot Size: 600 shares
Total Issue Size: 2,799,000 shares, aggregating up to ₹55.98 crore
Fresh Issue: 2,799,000 shares, aggregating up to ₹55.98 crore
Issue Type: Book Built Issue IPO
Listing At: NSE SME
Pre-Issue Shareholding: 7,607,663 shares
Post-Issue Shareholding: 10,406,663 shares
Market Maker Portion: 140,400 shares (handled by Shree Bahubali Stock Broking)

Pelatro IPO Reservation:

QIB (Qualified Institutional Buyers): Not more than 50% of the net issue
Retail Investors: Not less than 35% of the net issue
NII (Non-Institutional Investors or HNI): Not less than 15% of the net issue

Anchor Investors:

Anchor Bid Date: September 13, 2024
Anchor Portion: 781,800 shares
Total Amount Raised: ₹15.64 crore
Anchor Lock-In Period:
- 50% Shares: Lock-in ends on October 20, 2024 (30 days)
- Remaining Shares: Lock-in ends on December 19, 2024 (90 days)

Pelatro IPO Timeline (Tentative Schedule):

IPO Open Date: Monday, September 16, 2024
IPO Close Date: Thursday, September 19, 2024
Basis of Allotment: Friday, September 20, 2024
Initiation of Refunds: Friday, September 20, 2024
Credit of Shares to Demat: Monday, September 23, 2024
Listing Date: Tuesday, September 24, 2024
Cut-off Time for UPI Mandate Confirmation: 5 PM on September 19, 2024

Pelatro IPO Lot Size:

Minimum Investment (Retail): 1 lot (600 shares) costing ₹120,000
Maximum Investment (Retail): 1 lot (600 shares) costing ₹120,000
Minimum Investment (HNI): 2 lots (1,200 shares) costing ₹240,000

Pelatro IPO Promoter Holding:

Pre-Issue Promoter Holding: 73.31%
Post-Issue Promoter Holding: 53.59%

The company’s promoters include Subash Menon, Sudeesh Yezhuvath, Kiran Menon, and Varun Menon.

About Pelatro Limited:

Pelatro Limited provides a comprehensive customer engagement platform called mViva, designed to facilitate customer-centric interactions between businesses or brands and their end users. The platform helps companies understand customer behavior and needs, enhancing interactions with end customers through a suite of solutions.

Key Solutions Offered by Pelatro:

Campaign Management Solutions
Loyalty Management Solutions
Lead Management Solutions
Data Monetization Solutions

Pelatro’s platform offers end-to-end capabilities that include:

Data collection
Analytics
Intelligence gathering
Audience selection
Configuration
Execution
Reporting

Global Reach:

As of May 31, 2024, the mViva platform has been implemented, or is in the implementation phase, in 38 telecom networks across 30 countries:

Asia: 16 networks
Middle East: 5 networks
Africa: 15 networks
Caribbean: 1 network
Europe: 1 network

Key Sectors:

While Pelatro primarily serves telecommunication companies, it has recently expanded its focus to include banks and financial institutions.

Competitive Strengths:

Proprietary Technology Development and Testing: Expertise in building and refining advanced technologies.
Specialist Knowledge: Deep understanding of customer engagement.
End-to-End Platform: Comprehensive features from data collection to execution and reporting.
Highly Referenceable Customers: Strong relationships with well-known telecom companies.
Strong Market Position: Operates in high-growth markets with significant barriers to entry.
Profitable, Scalable Model: An asset-friendly, automated, and scalable business platform.
Global Customer Base: Diverse and growth-oriented clientele.
Patented Technology: Innovative products backed by patents.
Experienced Management: Leadership team with significant industry experience.

Employees:

As of May 31, 2024, Pelatro employed 296 people across its operations.

Pelatro Limited Financial Information (Restated Consolidated)

Period Ended: March 31, 2024

Assets: ₹5,780.92 lakh
Revenue: ₹5,536.54 lakh
Profit After Tax: -₹195.62 lakh
Net Worth: ₹1,202.89 lakh
Reserves and Surplus: ₹502.89 lakh
Total Borrowing: ₹1,867.58 lakh

Market Capitalization of Pelatro IPO: ₹208.13 crore

Key Performance Indicators (KPI) as of March 31, 2024:

Return on Equity (ROE): -15.48%
Return on Capital Employed (ROCE): 3.85%
Debt/Equity Ratio: 1.55
Return on Net Worth (RoNW): -15.48%
Price to Book Value (P/BV): 11.64
Profit After Tax (PAT) Margin: -3.56%

These figures indicate the company’s current financial health, profitability, and market valuation.

Objects of the Issue (Pelatro IPO Objectives)

The funds raised from the IPO will be used for the following purposes:

Capital Expenditure: Purchase and installation of IT equipment, computer hardware, servers, and other ancillary equipment.
Investment in Subsidiary: To support and grow the company’s subsidiary.
Working Capital Needs: To enhance the company’s operational liquidity.
General Corporate Purposes: For other corporate needs and expenses.

Pelatro IPO – Frequently Asked Questions (FAQ)

1. What are the IPO dates for Pelatro?

The Pelatro IPO opens on September 16, 2024, and closes on September 19, 2024.

2. What is the issue price of the Pelatro IPO?

The price band for the Pelatro IPO is set between ₹190 to ₹200 per share.

3. What is the lot size for the Pelatro IPO?

The minimum lot size is 600 shares, requiring a minimum investment of ₹120,000.

4. What is the total issue size of the Pelatro IPO?

The total issue size is 2,799,000 shares, aggregating up to ₹55.98 crores.

5. What portion is reserved for retail investors in the Pelatro IPO?

Not less than 35% of the net issue is reserved for retail investors.

6. What portion is reserved for QIB and HNI investors?

QIB (Qualified Institutional Buyers): Not more than 50% of the net issue.
HNI (High Net-worth Individuals): Not less than 15% of the net issue.

7. When will the basis of allotment for the Pelatro IPO be finalized?

The basis of allotment will be finalized on September 20, 2024.

8. When will the Pelatro IPO shares be credited to the Demat account?

Shares will be credited to investors’ Demat accounts by September 23, 2024.

9. What is the tentative listing date for the Pelatro IPO?

The tentative listing date is September 24, 2024 on the NSE SME.

10. Who is the lead manager and registrar for the Pelatro IPO?

The book running lead manager is Cumulative Capital Private Limited, and the registrar is Bigshare Services Pvt Ltd.

11. What are the primary objectives of the Pelatro IPO?

The IPO proceeds will be used for:
1. Funding capital expenditure for IT and hardware infrastructure.
2. Investment in a subsidiary.
3. Working capital requirements.
4. General corporate purposes.

12. What is the financial health of Pelatro?

Pelatro reported negative earnings in FY24 on a consolidated basis due to low contribution from its subsidiary, despite steady growth on a standalone basis.

13. Is the Pelatro IPO a good investment?

Based on standalone FY24 numbers, the issue appears aggressively priced. However, the company has bright prospects, and well-informed investors might consider investing for the medium to long term.