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

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.

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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.