Plada Infotech Services IPO Details

Fixed Price IPO | ₹12 Cr | Listed at NSE SME | Fri, Sep 29, 2023 - Thu, Oct 5, 2023

Plada Infotech IPO Logo

Plada Infotech IPO is a fixed price issue of ₹12.36 crores. The issue is entirely a fresh issue of 0.26 crore shares of ₹12.36 crore.

Plada Infotech IPO bidding started from Sep 29, 2023 and ended on Oct 5, 2023. The allotment for Plada Infotech IPO was finalized on Oct 9, 2023. The shares got listed on NSE SME on Oct 13, 2023.

Plada Infotech IPO price is ₹48 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,88,000.

Indorient Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..

Refer to Plada Infotech IPO RHP for detailed Information.

IPO Open

Fri, Sep 29, 2023

IPO Close

Thu, Oct 5, 2023

Issue Price

₹48 per share

Market Cap (Pre-IPO)

₹41.16 Cr

IPO Details

IPO Date29 Sep to 5 Oct, 2023
Listed onFri, Oct 13, 2023
Face Value10 per share
Issue Price₹48 per share
Lot Size3,000 Shares
Sale TypeFresh capital only
Issue TypeFixed Price IPO
Listing AtNSE SME

Total Issue Size25,74,000 shares
(agg. up to ₹12 Cr)
Reserved for Market Maker
1,29,000 shares
(agg. up to ₹0.6192 Cr)
Nikunj Stock Brokers Ltd.
Fresh Issue
(Ex Market Maker)
24,45,000 shares
(agg. up to ₹12 Cr)
Net Offered to Public24,45,000 shares
(agg. up to ₹12 Cr)
Share Holding Pre Issue60,00,000 shares
Share Holding Post Issue85,74,000 shares
NSE Symbol PLADAINFO
ISININE0PXD01014

IPO Timetable

Issue Reservation

Plada Infotech IPO comprises a total issue size of 25,74,000 shares. The net offer to the public is 24,45,000 shares, after excluding 1,29,000 shares allotted on a firm basis. Of the Net offer 12,22,500 (50.00%) allocated to NII 12,22,500 (50.00%) allocated to RII.

Investor Category Shares Offered % of Net Issue% of Total Issue
NII (HNI) Shares Offered 12,22,50050.00%47.49%
Retail Shares Offered 12,22,50050.00%47.49%
Firm Reservations
Market Maker Shares Offered 1,29,0005.01%
Total Shares Offered 25,74,000100.00%100.00%

IPO Lot Size

Investors can bid for a minimum of 3,000 shares and in multiples thereof. 

Application Lots Shares Amount
Retail (Min) 1 3,000 ₹1,44,000
Retail (Max) 1 3,000 ₹1,44,000
HNI (Min) 2 6,000 ₹2,88,000
IPO Subscription Details

About Plada Infotech Services Ltd.

Incorporated in 2010, Plada Infotech Services Limited specializes in delivering comprehensive Business Process Outsourcing (BPO) services tailored to our clients' specific needs.

The company provides a wide range of services ranging from recruitment & payroll management, merchant acquisition, field support, software solutions, seller onboarding, and account management to clients.

Following is an illustrative list of the business operations and the services that Plada provides:

  1. Merchant Acquisition: The company acquires and on-boards new merchants for Banks, NBFCs, and Startups (both Domestic and Multinational Companies). Plada's merchant acquisition services extend from lead-based visits to cold calls. The Company ensures end-to-end services for the clientele including Merchant engagement its activation, documentation, training, and establishment, Application Processing From KYC to TID generation, Automated Lead Management Tool, and M-Reporter Application for Sales to track and manage productivity.
  2. Field Support: Field service management typically involves dispatching technicians, workers, or contractors to a location outside company premises to install, maintain, or repair equipment, systems, or assets. In addition, these professionals manage the team, assign tasks, prepare reports, and maintain customer relationships.
  3. Recruitment & Payroll Management: Plada offers Payroll Management services as a complete and integrated solution. The clients comprise Banks & Corporates for whom end-to-end payroll management is done through the platform Kundali.
  4. Account Management: Account management involves managing the processes and compliances associated with merchant engagement & activation, data security, merchant acquisition, and implementation of programs on behalf of the client.

Plada Infotech Services employs over 1400 employees across the country and presently operates through 12 offices in 12 cities with other cities being serviced remotely.

Company Financials (Restated Consolidated)

Period Ended31 Mar 202331 Mar 202231 Mar 202131 Mar 2020
Assets28.1127.2027.6027.11
Total Income62.7548.8744.6150.68
Profit After Tax2.341.100.671.20
NET Worth7.535.184.083.43
Reserves and Surplus5.534.984.073.42
Total Borrowing16.5417.7219.5319.90
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects Est Amt (₹ Cr.)
1 To meet the working capital requirements 2.89
2 To purchase Laptops and Accessories for IT Development; 0.30
3 Repayment and / or prepayment in part or in full, of certain outstanding loans of the Company; 3.00
4 General Corporate Purposes 2.97

Key Performance Indicator (KPI)

Pre IPOPost IPO
EPS (₹)3.90
P/E (x)12.3117.58
Promoter Holding89.50%62.64%
Market Cap41.16 Cr.
Mr. Shailesh Kumar Damani and Mr. Anil Mahendra Kotak are the company's promoters.

IPO Review

[Dilip Davda]
The company is a tailor-made BPO service provider with having Pan India presence. It marked growth in its top and bottom lines for the reported periods. Based on FY23 earnings, the issue appears fully priced. Investors may park funds for long-term rewards.
Read detail review...

Plada Infotech IPO Recommendations

Review BySubscribeMay ApplyNeutralAvoid
Brokers1000
Members1000

Plada Infotech Services IPO Subscription Status (Bidding Detail)

The Plada Infotech Services IPO is subscribed 57.85 times on October 5, 2023 7:29:00 PM (Day 4). The public issue subscribed 73.78 times in the retail category, [.] times in the QIB category, and 39.81 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)Shares OfferedShares bid for
NII*39.8112,22,5004,86,66,000
Retail73.7812,22,5009,01,92,000
Total57.8524,45,00014,14,38,000

Total Application : 30,064

*Market Maker portion is not included to NII/HNI.

IPO Expenses

# Issue Expenses Est Amt (₹ Cr.)
1 Issue relating expenses such as fees to Lead Manager Fixed Fee, Registrar to the Issue, Legal Advisors, Auditors, statutory advertisements and other expenses incurred / to be incurred including promotional expenses 2.90
2 Underwriting commission, brokerage and selling commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs 0.20
3 Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees, other regulatory expenses and sundry expenses 0.10

Listing Day Trading Information

Price DetailsNSE SME
Final Issue Price48.00
Open59.00
Low56.05
High60.00
Last Trade56.05

Check IPO Performance…

IPO Registrar

Bigshare Services Pvt.Ltd.

Contact Details

Plada Infotech Services Ltd. Address
Santosh A. Mishra Compound,
Mograpada, Mogra Village, off. Old Nagardas Road
Andheri (East),
Mumbai, Maharashtra, 400069
Open an Instant Account with Zerodha

IPO FAQs

Plada Infotech IPO is a SME IPO of 25,74,000 equity shares of the face value of ₹10 aggregating up to ₹12 Crores. The issue is priced at ₹48 per share. The minimum order quantity is 3000.

The IPO opens on Fri, Sep 29, 2023, and closes on Thu, Oct 5, 2023.

Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Plada Infotech IPO using UPI as a payment gateway. Zerodha customers can apply in Plada Infotech IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Plada Infotech IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Plada Infotech IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. Submit IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Plada Infotech IPO opens on Fri, Sep 29, 2023 and closes on Thu, Oct 5, 2023.

Plada Infotech IPO lot size is 3000, and the minimum amount required for application is ₹1,44,000.

You can apply in Plada Infotech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Plada Infotech IPO will be done on Monday, October 9, 2023, and the allotted shares will be credited to your demat account by Wed, Oct 11, 2023. Check the Plada Infotech IPO allotment status.

The Plada Infotech IPO listing date is on Fri, Oct 13, 2023.

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