Plada Infotech IPO opens for subscriptions. Check GMP, price band, closing date

Plada Infotech IPO: The company aims to raise ₹12.36 crore through the IPO and the shares will be listed on NSE EMERGE platform

Updated on: Sep 29, 2023, 13:10:58 IST

By HT News Desk

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Business Process Outsourcing (BPO) services firm Plata Infotech Services Limited on Friday opened its initial public offering (IPO) for subscription. The company aims to raise ₹12.36 crore through the IPO and the shares will be listed on NSE EMERGE platform. The issue is available till September 5 for subscription.

The IPO's price band has been fixed at ₹48 per share. (iStock)

Shailesh Kumar Damani, Chairman and Managing Director of Plada Infotech Services Limited, told ANI, “I am immensely proud to witness this moment in Plada Infotech Services Limited's journey as we announce our Initial Public Offering. This significant step underscores our sustained commitment to innovation, growth, and delivering exceptional value to our clients. Over the years, we've embraced challenges, adapted to changes, and consistently delivered beyond expectations.

IPO share size

As mentioned earlier, the company is aiming to raise ₹12.36 crore from the proceeds from the sale of IPO.

Plada Infotech IPO price

The IPO's price band has been fixed at ₹48 per share.

Plada Infotech IPO GMP

According to the website topsharebrokers.com, the share of Plada Infotech were trading at ₹18 in the grey market. The shares are expected to be listed on the stock markets on October 13.

A grey market premium (GPM) is the price at which IPO shares are sold in the grey market prior to their stock exchange listing

As per company statement, the net proceeds from the IPO will be utilized for funding working capital requirements, purchase of laptops and accessories for IT development, repayment and / or prepayment, in part or in full, of certain outstanding loans, and for general corporate purposes.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Initial Public Offering

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