The initial public offering (IPO) of DelaPlex was subscribed at 0.69 by 1 pm on Thursday, the opening day. The issue received 16.65 lakh share bids against 24 lakh equity shares available for subscription.
The portion for retail individual investors was fully subscribed at 1.85 times, receiving 1,480,200 share bids against the reserved quota while the non-institutional investors got 184,800 share bids around 12:20 pm. The Qualified Institutional Buyers’ (QIBs) portion was yet to open the account around this time.

IPO anchor allotment

The company raised Rs 13.09 crore from nine investors via anchor allotment in which 682,800 shares were on offer. The highest portion was allocated to Chanakya Opportunities Fund-I at 22.93% followed by Kingsman Wealth Fund PCC KIF-II (15.29%) and Meru Investment Fund PCC- Cell (10.54%). The shares were allotted at a bid price of Rs 192 per share.

About delaPlex IPO

The total offer size is 24 lakh shares comprising fresh issue of 18 lakh share while an offer for sale (OFS) of 6 lakh shares. The company plans to raise a total of Rs 46.08 crore at the upper price band. The face value is Rs 10 per equity share.

delaPlex IPO offer details

The company has set the price band at Rs 186 – Rs 192 per equity share. Retail investors can subscribe a minimum of 1 lot or 600 shares and in multiples of 600 shares thereafter. The maximum subscription amount is Rs 2 lakh.

delaPlex IPO GMP

The shares of delaPlex were commanding a grey market premium of Rs 120 per share.

delaPlex IPO issue type

The issue type is book building.

delaPlex IPO subscription quota

Not less than 35% of the net offer of up to 797,400 equity shares will be available for allocation to retail buyers. For non-institutional buyers, the quota stands at 342,000 equity shares and for qualified institutional buyers (QIBs) it is 1,138,200 equity shares out of which the anchor investor portion stands at 682,800.

delaPlex IPO lead managers

The book-running lead manager (BRLM) is Shreni Shares Limited with ICICI Bank as the sponsor bank. The registrar for the issue is Bigshare Services Private Limited.

About delaPlex

The promoters of the company are Nitin Sachdeva, Manish Iqbal Chand Sachdeva, Mark T River, Preeti Sachdeva and Delaplex Inc. The company was originally incorporated under the name ‘Quality Management Concepts Private Limited’ on February 12, 2004.

Subsequently, the name of the company was changed to ‘Q M Computech Private Limited’. The name of the company was then changed to ‘delaPlex Private Limited’ on January 24, 2019. The company offers services in information security.

delaPlex IPO net proceeds

The net proceeds will be utilised towards meeting the general corporate expenditures and inorganic acquisitions; APAC – Advertisement, Sales and Marketing expenses towards enhancing the awareness; funding working capital requirements of the company.

delaPlex financials

The company reported a profit after tax of Rs 4.25 crore as on September 30, 2023. For the year ended March 31, 2023 the net profit stood at Rs 7.90 crore. For the same period in 2022 and 2021 the PAT stood at Rs 6.11 crore and Rs 4.04 crore, respectively. The total revenue as of September 30, 2023 was 28.14 crore. For the year ended March 31, 2023, the revenue stood at Rs 55.21 crore. For the same period ended 2022 and 2021, the revenue stood at Rs 50.34 crore and 36.33 crore, respectively.

Also Read: Fonebox Retail IPO: Check issue size, price band, GMP, other details

(You can now subscribe to our ETMarkets WhatsApp channel)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)