Plada Infotech Services Ltd IPO Timeline

Plada Infotech Services Ltd IPO opens on 29-Sep-2023, and closes on 05-Oct-2023. The Plada Infotech Services Ltd IPO bid date is from 29-Sep-2023 to 05-Oct-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Plada Infotech Services Ltd IPO Opening Date 29-Sep-2023
Plada Infotech Services Ltd IPO Closing Date 05-Oct-2023
Basis of Allotment 10-Oct-2023
Initiation of Refunds 11-Oct-2023
Credit of Shares to Demat 11-Oct-2023
Plada Infotech Services Ltd IPO Listing Date 13-Oct-2023

Plada Infotech Services Ltd IPO Lot Size

Plada Infotech Services Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 144000).

Application Lots Shares Amount
Minimum 1 3000 ₹144000
Maximum 1 3000 ₹144000

Plada Infotech Services Ltd IPO Details

Plada Infotech Services Ltd IPO Date 29-Sep-2023 to 05-Oct-2023
Plada Infotech Services Ltd IPO Face Value Shares of ₹10 per share
Plada Infotech Services Ltd IPO Price ₹48 per share
Plada Infotech Services Ltd IPO Lot Size 3000
Issue Size Shares of ₹10 (aggregating up to ₹12.36 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹12.36 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Shailesh Kumar Damani, Anil Mahendra Kotak.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Working capital requirements
  • 2 Purchase of Laptops & Accessories for IT Development
  • 3 Repayment and/or prepayment in part or in full of certain outstanding loans
  • 4 General corporate expenses

Company Financials

Plada Infotech Services Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2022 27.29 48.71 1.13
03-2021 27.42 44.48 0.72
03-2020 26.87 50.13 1.25
Amount in ₹ Crore
  • Customers' Satisfaction and their retention.
  • Maintaining Long term relationship with clients.
  • Experienced promoter and senior management team.
  • Its distribution Network.
  • The company fails to perform in accordance with the standards prescribed in its client contracts could result in loss of business or payment of liquidated damages.
  • Uncertainty of Client Commitment and Potential Contract Termination.
  • The company recent rapid growth may not be indicative of its future growth, and, if the continue to grow rapidly, the company may not be able to manage its growth effectively.
  • The company's business is subject to extensive government regulation, which may restrict the types of services the company is permitted to issue or result in additional tax or other costs that reduces the company revenues and earnings. Its inability to receive or renew the necessary licenses, approvals and registrations in a timely manner or at all may lead to interruption of the Company's operations.
  • The company may fails to attract and retain sufficiently trained employees to support its operations, as competition for qualified personnel is intense and the company experience significant employee turnover rates.
  • The Company has not made provision for gratuity as per AS 15 - Employee Benefits issued by ICAI in its books relating to certain employees of the Company given the contractual arrangement with client for providing Gratuity reimbursement along with Employee Compensation.
  • The company has not consolidated the financial statement of its assoicate Company for certain years.
  • The Company has availed moratorium facility from certain banks/ financial institution during the Covid-19 Period.
  • Due to the nature of the staffing services business, its may be exposed to employee-related risks, claims and losses that could have an adverse effect on the company business and reputation.
  • The company offices are located on leased premises and there can be no assurance that these leases will be renewed upon termination or that the company will be able to obtain other premises on lease on same or similar commercial terms.
  • There is an outstanding legal proceeding involving the Company. Any adverse decision in such proceeding may have a material adverse effect on its business, results of operations and financial condition.
  • The Company has not made provision for contingent liability in its book.
  • The Company has filed certain forms with the Registrar of Companies, Maharashtra, Mumbai (ROC) beyond the statutory time period and in respect of certain transactions Company has not filed the forms with the ROC. If the ROC impose monetary penalties on it or take certain punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely affected.
  • An application for adjudication of stamp duty on share transfer deed executed by the Company has been filed and pending before the Collector of Stamps, Andheri.
  • If the company existing clients do not renew their agreements with it, or expand the scope of services the company provide to them, or if its long-term relationships with some of the company largest clients are impaired or terminated, its revenue could decline, and the company results of operations would be adversely impacted.
  • The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • Certain relevant copies of educational qualification and experience certificates of the company Promoter/ Director are not traceable.
  • The company have not received "No Objection certificate" (NOC) from some of the lenders of secured and unsecured loans to the company.
  • The company registered office from where its operations are carried out is shared between the Company with its subsidiary Company and Group Companies.
  • The company's success depends largely upon the services of its Directors, Promoters and other Key Managerial Personnel and the company ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and the company inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
  • The company Promoters and Executive Directors hold Equity Shares in the Company and are therefore interested in it performance in addition to their remuneration and reimbursement of expenses.
  • The company insurance coverage may not adequately protect it against potential risk and this may have a material adverse effect on its business.
  • The future operating results are difficult to predict and may fluctuate or adversely vary from the past performance.
  • The Company's management will have flexibility in utilizing the Net Proceeds from the Issue. Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • A Portion of the company Issue Proceeds are proposed to be utilized for general corporate purposes which constitute 24% of the Issue Proceed. As on date the company have not identified the use of such funds.
  • The company has not paid any dividends in the past Financial Years. Its ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • The company will continue to be controlled by its Promoter and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of the company shareholders.
  • The company may need to seek additional financing in the future to support its growth strategies. Any failure to raise additional financing could have an adverse effect on the company business, results of operations, financial condition and cash flows.
  • If the company does not set optimal prices for its service offerings, the company business, financial condition, and results of operations could be adversely affected.
  • If the company has unable to attract new customers, retain customers at existing levels or sell additional services to its existing customers, the company revenue growth will be adversely affected.
  • The Company proposes to utilize part of the Net Proceeds for repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Company from various Banks and NBFCs, accordingly, the utilization of that portion of the Net Proceeds will not result in creation of any tangible assets.
  • The company funding requirements and proposed deployment of the Net Proceeds have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, the company may have to incur additional cost to fund the objects of the Issue because of which its business, financial condition and results of operations may be adversely affected.
  • The company have not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the 'objects of the Issue. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • Investment in infrastructure and technology.
  • Retain and expand its Current clientele and initiate new Business relationships.

Plada Infotech Services Ltd IPO Promoter Holding

Pre Issue Share Holding 89.51%
Post Issue Share Holding 62.64%

Plada Infotech Services Ltd IPO Subscription Status (Bidding Detail)

The Plada Infotech Services Ltd IPO is subscribed 53.9965 times on Oct 05, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 53.9965

Plada Infotech Services Ltd IPO Prospectus

Plada Infotech Services Ltd IPO Listing Date

Listing Date 13 Oct 23
BSE Script 91657
NSE Symbol PLADAINFO
Listing In NSE - SME
ISIN INE0PXD01014
IPO Price ₹48
Face Value ₹10

Plada Infotech Services Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Plada Infotech Services Ltd IPO Lead Manager(s)

  1. Indorient Financial Services Ltd

FAQs on Plada Infotech Services Ltd IPO

Plada Infotech Services Ltd IPO, which opens for subscription from 29-Sep-2023 to 05-Oct-2023 has an issue size of ₹12.36 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Plada Infotech Services Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Plada Infotech Services Ltd IPO Opens for subscription from 29-Sep-2023 to 05-Oct-2023.

The lot size of Plada Infotech Services Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹144000 and ₹144000 respectively.

Allotment date for Plada Infotech Services Ltd is 10-Oct-2023 and refund of application amount (in case allotment is not received) will begin from 11-Oct-2023. If your allotment goes through, then shares will be credited in your Demat account by 11-Oct-2023.

The registrar for Plada Infotech Services Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Plada Infotech Services Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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