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02 May 2024

DelaPlex Limited IPO

DelaPlex Ltd. (DPL) is a technology and software development solution and consulting provider, helping client companies to achieve growth, revenue and marketplace value. The Company has developed expertise and partnerships with various industry players that provide the latest technology, tools, and software development solutions. DPL is a global technology partner in Supply Chain Consulting, Custom Software Development, Cloud Services, and Data Science. Further the Company offers various tech solutions encompassing software-defined data centers, integrated infrastructure, cloud technologies, DevOps, security solutions, data analytics, and artificial intelligence.

Built for its channel partners and end users, we create next-gen solutions to address IT problems. DelaPlex IPO is a book built issue of Rs 46.08 crores. The issue is a combination of fresh issue of 18 lakh shares aggregating to Rs 34.56 crores and offer for sale of 6 lakh shares aggregating to Rs 11.52 crores. DelaPlex IPO price band is set at ₹186 to ₹192 per share. The minimum lot size for an application is 600 Shares. Shreni Shares Limited is the book running lead manager of the DelaPlex IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the DelaPlex IPO is Shreni Shares.

DelaPlex IPO Overview

Detail	Description
IPO Date	January 25, 2024 to January 30, 2024
Listing Date	February 2, 2024
Face Value	₹10 per share
Price Band	₹186 to ₹192 per share
Lot Size	600 Shares
Total Issue Size	2,400,000 shares (aggregating up to ₹46.08 Cr)
Fresh Issue	1,800,000 shares (aggregating up to ₹34.56 Cr)
Offer for Sale	600,000 shares of ₹10 (aggregating up to ₹11.52 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	7,310,000
Share holding post issue	9,110,000
Market Maker portion	122,400 shares Shreni Shares

DelaPlex IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Thursday, January 25, 2024
IPO Close Date	Tuesday, January 30, 2024
Basis of Allotment	Wednesday, January 31, 2024
Initiation of Refunds	Wednesday, January 31, 2024
Credit of Shares to Demat	Thursday, February 1, 2024
Listing Date	Friday, February 2, 2024
Cut-off time for UPI mandate confirmation	5 PM on January 30, 2024

DelaPlex IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	600	₹115,200
Retail (Max)	1	600	₹115,200
HNI (Min)	2	1,200	₹230,400

DelaPlex IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	682,800 (28.45%)
Market Maker Shares Offered	122,400 (5.10%)
Other Shares Offered	455,400 (18.98%)
NII (HNI) Shares Offered	342,000 (14.25%)
Retail Shares Offered	797,400 (33.23%)
Total Shares Offered	2,400,000 (100%)

DelaPlex IPO Promoter Holding

Share Holding Pre Issue	100%
Share Holding Post Issue	73.66%

DelaPlex IPO Anchor Investors Details

Bid Date	January 24, 2024
Shares Offered	682,800
Anchor Portion Size (In Cr.)	13.11
Anchor lock-in period end date for 50% shares (30 Days)	March 1, 2024
Anchor lock-in period end date for remaining shares (90 Days)	April 30, 2024

Company & Financials

Incorporated on February 12, 2004, DelaPlex Limited is a subsidiary of delaPlex INC., which is a U.S.-based enterprise. DelaPlex INC. holds 51% of the company's shares. The Company provides technology and software development solutions and consulting services to help clients achieve growth, revenue, and marketplace value. The company also provides various tech solutions including software-defined data centers, integrated infrastructure, cloud computing, DevOps, security solutions, data analytics, and artificial intelligence. The company's test engineers hold ISTQB Gold certification, and its information security management system is ISO/IEC 27001:2022 certified. The company also complies with the requirements of ISO 9001:2015 for its Quality Management System. The company's registered office is in Nagpur, with additional presence in Pune, Hyderabad, and Bengaluru. The company provides services in India as well as in USA, and Dubai (UAE). As of September 30, 2023, and for the financial year ended 2023, 2022 and Fiscal 2021, the company's revenue from operations was respectively ₹ 2,337.75 Lakhs, and ₹ 4,283.60 Lakhs, ₹ 4,014.73 Lakhs and ₹ 3,214.45 Lakhs was derived from sales outside of India.

DelaPlex Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	3,185.45	2,638.33	1,790.90	1,100.77
Revenue	2,814.28	5,521.81	5,034.06	3,633.30
Profit After Tax	425.53	790.72	611.87	404.00
Net Worth	2,775.58	2,350.05	1,559.32	947.45
Reserves and Surplus	2,774.58	2,349.05	1,558.32	946.45
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	40.45%
ROCE	56.73%
RoNW	56.73%
P/BV	0

	Pre IPO	Post IPO
EPS (Rs)	10.82	9.34
P/E (x)	17.75	20.55

Objectives of DelaPlex IPO

The company proposes to utilize the Net Proceeds from the Fresh Offer towards funding the following objectives:

● APAC - Advertisement, Sales and Marketing expenses towards enhancing the awareness.
● Funding Working Capital Requirements of the Company.
● Funding of capital expenditure requirements of the Company towards the purchase of Office Laptops.
● General corporate purposes and unidentified inorganic acquisition.

DelaPlex IPO Review

The company is a global IT related solutions and service provider. It marked steady growth in its top and bottom lines for the reported periods. Based on annualized FY24 earnings, the issue appears fully priced discounting all near term positives. Well-informed investors may park funds for the medium to long term rewards.

FAQs for DelaPlex IPO

What Is The Size Of The DelaPlexIPO?

The offer size of DelaPlex’s IPO is INR 46.08 crores. The offer includes a fresh issue worth INR 34.56 crores and an offer to sell existing shares for INR 11.52 crores.
What Is The Price Band Of The DelaPlex IPO?

The DelaPlex IPO Company will issue shares at INR 186-192 per share.
When will DelaPlex Ltd's IPO be allotted?

The basis of allotment will be finalized on January 31, 2024. The credit of shares to the demat accounts will take place on January 31, 2024.
What minimum lot size can retail investors subscribe to?

The lot size for the IPO will be 600 shares per lot.
When will DelaPlex Ltd list on exchanges?

DelaPlex Ltd will be listed on the NSE SME on February 2, 2024.