Plada Infotech Services Limited IPO Opens on 29th September, 2023

Mumbai (Maharashtra) [India], September 29: Plada Infotech Services Limited, specialize in delivering comprehensive Business Process Outsourcing (BPO) services, has announced its plans to go public with an Initial Public Offering (IPO) on 29thSeptember, 2023. The company is aiming to raise ₹ 12.36crore through this IPO, with shares set to be listed on the NSE EMERGE platform.

The fresh issue size is Up to 25,74,000 equity shares at face value of ₹ 10 each.

Equity Share Allocation

• Non-Institutional Investors (NII) – 12,22,500Equity Shares

• Retail Individual Investors (RII) – 12,22,500 Equity Shares

• Market Maker – 1,29,000 Equity Shares

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. The issue closes on 4thOctober, 2023.

The Lead Manager to the Issue is Indorient Financial Services Limited. The Registrar to the Issue is Bigshare Services Private Limited.

Mr. Shailesh Kumar Damani, Chairman and Managing Director of Plada Infotech Services Limited said, “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.

We view this as a major stride forward and are enthusiastic about embarking on this new journey.”

Mr. Soumya Padhi, Founder of Indorient Financial Services Limited said, “As the lead manager for Plada Infotech Services Limited’s IPO, we are excited to be a part of this pivotal moment. Plada’s dedication to excellence and innovation in the BPO sector stands out. We believe that their choice to raise capital via SME IPO listing will empower them to effectively execute their growth and expansion plans.”

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