DelaPlex Debuted on the bourse and opened at Rs 309, a 60% premium to the issue price of Rs 192. The shares were listed in the NSE SME category.
In the grey market, the shares of the company were trading at a 75.5% premium. The grey market is an unofficial market where shares are traded illegally before listing, providing a hint to investors about the forthcoming listing of the shares.
The company opened its issues at a price band of Rs 186-192. The issue was opened on January 25 and closed on January 30. The issue collected Rs 46.08 crore by offering 24,00,000 shares. It was a combination of both fresh and offer for sale. The company raised Rs 34.56 crore through fresh issue and Rs 11.52 crore through offer for sale. Out of the whole offer 33.23% was reserved for the retail investors.
According to the company, the aggregated proceeds will be used for various objectives such as advertisement, sales promotion, working capital requirements, capital expenditure, and general administration work.
The company is a global IT solutions and service provider. It is a subsidiary of US-based DelaPlex INC, which holds a 51% stake in the company.