Pelatro Ltd Share Price – NSE

IT - Software, Small Cap

Pelatro announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 October 2024 .

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The scrip was listed at Rs 275, a premium of 37.50% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 288.75 and a low of Rs 275. About 10.79 lakh shares of the company changed hands at the counter.

Pelatro's IPO was subscribed 14.91 times. The issue opened for bidding on 16 September 2024 and it closed on 19 September 2024. The price band of the IPO was set at Rs 190 to Rs 200 per share.

The IPO comprised fresh issue of 27,99,000 equity shares. The promoter and promoter group shareholding diluted to 53.59% from 73.31% pre-issue.

The company intends to utilize the net proceeds to meet working capital needs of the company, funding to capital expenditure requirement of the company, investment in its subsidiary and general corporate purpose.

Ahead of the Pelatro on 13 September 2024, raised Rs 15.63 crore from anchor investors. The board allotted 7.81 lakh shares at Rs 200 per share to 5 anchor investors.

Pelatro, a global technology company, has developed mViva, a comprehensive customer engagement platform. Designed to foster customer-centric interactions between businesses and their end users, mViva processes vast amounts of data daily for enterprises across nearly a billion consumers in 30 countries.

mViva offers a suite of products, including campaign management, loyalty management, lead management, and data monetization solutions.

Pelatro's sales team consists of four members - one in Latin America, two in the Middle East and Africa, and one handling inside sales. The company currently has a total of 296 employees as of May 31, 2024.

The company recorded revenue from operations of Rs 54.99 crore and net loss of Rs 1.95 crore for the period as of 31 March 2024.

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