Pelatro Limited, a global technology company, has developed the mViva Customer Engagement Platform, enabling customer-centric interactions between enterprises and their end users. The company aims to enhance customer engagement by providing deeper insights into customer behavior and needs.

The Pelatro IPO is a Book Built Issue totaling ₹55.98 crores, comprising a Fresh Issue of 27.99 lakh shares. The subscription period runs from September 16, 2024, to September 19, 2024, with the allotment expected to be finalized on September 20, 2024, and shares tentatively listed on the NSE SME platform by September 24, 2024.

Financial Overview

The share price band for the Pelatro IPO is set at ₹190 to ₹200 per share, with a minimum lot size of 600 shares. Retail investors must invest a minimum of ₹120,000, while High-Net-Worth Individuals (HNIs) need to invest at least ₹240,000 for 1,200 shares.

CUMULATIVE CAPITAL PRIVATE LIMITED is the book-running lead manager, and BIGSHARE SERVICES PRIVATE LIMITED serves as the registrar for the issue. Shree Bahubali Stock Broking Limited acts as the Market Maker.

Financially, Pelatro reported a revenue of ₹5,536.54 lakhs for Fiscal 2024, with an EBITDA of ₹311.15 lakhs and a Profit after Tax (PAT) of ₹195.62 lakhs. However, the company has negative earnings per share, with a pre-issue EPS of ₹-5.15 and a post-issue EPS of ₹-1.86. The pre-issue P/E ratio stands at -38.83x, and the post-issue P/E ratio is -107.52x. The company's Return on Capital Employed (ROCE) for FY24 is 3.85%, while Return on Equity (ROE) is -15.48%, suggesting the IPO is fully priced.

Grey Market Premium (GMP) & Subscription Status

Currently, the Grey Market Premium (GMP) for Pelatro Limited IPO is projected at ₹0, indicating a lack of anticipated listing gains. As of 5:00 PM on September 16, 2024, the live subscription status shows the IPO has been subscribed 0.38 times, reflecting subdued interest.

IPO Objectives

The proceeds from the Pelatro IPO will be utilized as follows:

₹1,011.56 lakhs for capital expenditure related to the purchase and installation of IT equipment and ancillary services.

₹1,000.00 lakhs for investment in their subsidiary.

₹1,500.00 lakhs to meet working capital needs.

Additional funds for general corporate purposes.

Leadership and Company Growth

The company is led by experienced promoters, including Subash Menon, who has over three decades in sales, finance, marketing, and general management, along with Sudeesh Yezhuvath, Kiran Menon, and Varun Menon. Their leadership and strategic vision aim to drive Pelatro's growth in the customer engagement sector.

How to Check IPO Allotment Status

Investors interested in the Pelatro IPO can check their allotment status online:

Visit the IPO allotment status page.

Select Pelatro Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to check your allotment status.

Conclusion and Expert Opinion

Given Pelatro's current financial performance, negative earnings metrics, and the expected Grey Market Premium of 0%, the recommendation for investors is to avoid the Pelatro Limited IPO for both short-term listing gains and long-term investment. Investors are encouraged to carefully assess their risk appetite and consider seeking professional advice prior to making any investment decisions.

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