Price range for delaPlex IPO set at ₹186-192 per share; Review GMP, issue details, important dates and more

The price range for delaPlex's IPO is in the range of ₹186 to ₹192 per share. The delaPlex IPO will open for subscription on Wednesday, January 24th and close on Monday, January 29th. The lot size of the delaPlex IPO consists of 800 shares. Investors can bid for at least 600 shares and multiples thereof. The minimum price is 18.6 times the par value and the maximum price is 19.2 times the par value of the shares.

The company is a technology and software development solutions and consulting service that helps client companies achieve growth, revenue and market value, according to Red Herring Prospectus (RHP). The company has established relationships and experience with a number of industry players offering the latest tools, software development solutions and technologies.

The company provides custom software development, cloud services, data science and supply chain consulting worldwide.

Also read: Nova Agritech increases ₹43.14 crore from anchor investors ahead of the IPO

US-based delaPlex INC owns 51% of the shares of delaPlex Limited (dpl), a subsidiary of delaPlex INC.

“Exciting news! Mint is now on WhatsApp channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

According to RHP, the company's listed competitors are Ksolves India Ltd (with a P/E ratio of 65.06), Micropro Software Solutions Ltd (with a P/E ratio of 10.29) and Sigma Solve Ltd (with a P/E ratio of 255.66).

Between March 31, 2022 and March 31, 2023, delaPlex Ltd's profit after tax (PAT) increased by 29.23%, while the company's revenue increased by 9.69%.

Details about the delaPlex IPO

delaPlex IPO that is worthwhile ₹46.08 crore comprising fresh issue of 1,800,000 equity shares, in total ₹34.56 crore and offer for sale (OFS) of 600,000 shares of ₹10 each, added together ₹11.52 crore.

Nitin Sachdeva, Manish Iqbalchand Sachdeva, Mark T. River, Preeti Sachdeva and M/s delaPlex INC. are the founders of the company.

The Company intends to use the net proceeds from the new offering to fund the following objectives: APAC – increasing awareness through advertising, sales and marketing; Financing the company's working capital needs; Financing the company's investment needs for the purchase of office laptops; general corporate purposes; and an undisclosed inorganic acquisition, according to RHP.

The delaPlex IPO has reserved not less than 50% of the shares of 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 offering is reserved for retail investors . The market maker share is up to 122,400 shares or 5.10% of the offering.

The basis for allotment of shares pursuant to delaPlex's IPO is expected to be determined on Tuesday, January 30, and the Company will issue refunds on Wednesday, January 31, while shares will be issued on the same day after the refund Demat account of the allottees will be credited. The delaPlex share price is expected to list on the NSE SME on Thursday, February 1.

Also Read: EPACK Durable IPO opens today: 10 key risks of RHP to consider before filing for IPO

delaPlex IPO GMP today

delaPlex IPO GMP or gray market premium is +60. This suggests that delaPlex's share price was trading at a premium of ₹60 on the gray market, according to investorgain.com.

Taking into account the upper end of the IPO price range and the current premium on the gray market, the estimated listing price of delaPlex shares has been included ₹252 per piece, which is 31.25% higher than the IPO price of ₹192.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

Also Read: EPACK Durable IPO: Issue 77% subscribed on first day, retail share fully booked; GMP is rising

Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

Discover a world of benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized news feed – it's all here, just a click away! Log in now!

Topics that might interest you