Strong Debut: delaPlex share price lists at ₹309 on NSE SME, a 60.94% premium to IPO price

delaPlex IPO listing price today: delaPlex share price made a strong debut on NSE SME today. delaPlex share price was listed at ₹309, a premium of 60.94 percent or ₹117 to its issue price of ₹192.

The initial public offering (IPO) of delaPlex was open between January 25 and January 30 with a price band in the range of ₹186 to ₹192 apiece.

delaPlex IPO witnessed phenomenal subscription in the 3 days of bidding and was subscribed a total of 177.80 times. The public issue received 159.91 times subscriptions in the retail category, 90.91 times in the Qualified Institutional Buyer’ (QIB) category, and 335.23 times in the Non-Institutional Investors’ (NII) category by January 30.

Read here: Megatherm Induction IPO allotment finalised: Steps to check allotment status

About delaPlex

The company, according to the Red Herring Prospectus (RHP), is a technology and software development solution and consultancy service that aids client businesses in achieving growth, revenue, and market value. The business has established relationships and experience with a number of industry players who offer the newest tools, software development solutions, and technologies.

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

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

Read here: BLS IPO last day to apply: GMP rises, check issue details, review, more.

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

delaPlex IPO details

The ₹46.08 crore delaPlex IPO consists of a fresh issue of 18 lakh shares aggregating to ₹34.56 crore, and an Offer-for-Sale (OFS) of 6 lakh shares of ₹10 apiece aggregating to ₹11.52 crore.

Nitin Sachdeva, Manish Iqbalchand Sachdeva, Mark T. River, Preeti Sachdeva, and M/s delaPlex INC. are the company's promoters.

The company intends to use the net proceeds from the new offering to finance the following goals: APAC - Increasing awareness through advertising, sales, and marketing; financing the company's working capital requirements; financing the company's capital expenditure requirements for office laptop purchases; general corporate purposes; and an undisclosed inorganic acquisition, as per the RHP.

Read here: KP Green Engineering files IPO papers with SEBI, to list with BSE SME

The minimum lot size for an application was 600 shares and in multiples thereof. delaPlex IPO had reserved not more than 50 percent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 percent for non-institutional Institutional Investors (NII), and not less than 35 percent of the offer is reserved for retail investors. The market maker portion was up to 122,400 equity shares or 5.10 percent of the offer.

The registrar of the delaPlex IPO was Bigshare Services Pvt Ltd, while the book-running lead manager was Shreni Shares Limited. Shreni Shares was the market maker for the delaPlex IPO.