Pelatro IPO booked 0.43 times on day one

Business Business: Peratro’s initial public offering (IPO) was subscribed 0.43 times, retail investors 0.79 times and non-institutional investors 0.18 times, according to data from Chittorgarh.com till 5 pm. During the IPO, offers were received for 798,600 shares out of 1,876,800 shares offered.

The company plans to raise Rs 5,598 crore through this IPO with a fresh issue of 2,799,000 shares. The price band has been fixed at Rs 190-200 per share and the face value at Rs 10 per share. The minimum investment amount for individual investors is Rs 120,000 with a lot size of 600 shares. The allotment is expected to be completed on Friday, September 29, 2024 and the shares are expected to be listed on the NSE SME platform on Tuesday, September 24, 2024. The Company intends to use the proceeds from the IPO for capital expenditure, purchase and installation of information technology equipment, investments in subsidiaries, meeting working capital needs and other general purposes of the Company.