Stock market today: Pelatro shares debuted on the NSE SME Emerge platform at a whopping 37.50 per cent premium against the upper price band of ₹200 per equity share. Pelatro’s share price was listed at ₹275 apiece and touched an intraday high of ₹288.75 apiece within a few minutes of the Opening Bell.
The NSE SME IPO was launched at ₹190 to ₹200 per equity shareand proposed for listing on the NSE SME Emerge platform. Subscription for the SME IPO opened on September 16, 2024, and ended on September 19, 2024. The public issue was subscribed over 20 times, which the primary market investors can consider a decent response. The public issue was aimed at raising ₹55.98 crore through the issuance of fresh shares. This means the net proceeds of the book build issue will go into the company’s balance sheet.
The company plans to use the IPO proceeds for capital expenditure, purchasing and installing IT equipment, investing in a subsidiary, funding working capital needs, and other general corporate purposes.
The company is a global technology firm that has developed a customer engagement platform called mViva, which enables customer-centric interactions between enterprises and their end users. mViva processes large amounts of data across nearly a billion consumers in 30 countries, helping businesses understand customer behavior and enhance engagement, company’s DRHP says.
The platform offers a comprehensive range of services, including data collection, analysis, audience selection, and execution of marketing strategies based on behavioral insights. It is user-friendly, designed for marketers without technical expertise, and supports the creation of both short-term and long-term customer journeys.