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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.
As of September 30th, 2023, the company has a total of 300 personnel, with 286 employees on our payroll and 14 contractors responsible for the day-to-day business operations, administrative, secretarial, legal and accounting functions according to their respective designated duties.
DelaPlex IPO Details
| IPO Date | January 24, 2024 to January 29, 2024 |
| Listing Date | [.] |
| 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 |
DelaPlex IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
DelaPlex IPO Anchor Investors Details
DelaPlex IPO raises Rs 13.11 crore from anchor investors. DelaPlex IPO Anchor bid date is January 23, 2024.
| Bid Date | January 23, 2024 |
| Shares Offered | 682,800 |
| Anchor Portion Size (In Cr.) | 13.11 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 12, 2024 |
DelaPlex IPO Timeline (Tentative Schedule)
DelaPlex IPO opens on January 24, 2024, and closes on January 29, 2024.
| IPO Open Date | Wednesday, January 24, 2024 |
| IPO Close Date | Monday, January 29, 2024 |
| Basis of Allotment | Tuesday, January 30, 2024 |
| Initiation of Refunds | Wednesday, January 31, 2024 |
| Credit of Shares to Demat | Wednesday, January 31, 2024 |
| Listing Date | Thursday, February 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 29, 2024 |
DelaPlex IPO Lot Size
Investors can bid for a minimum of 600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 Promoter Holding
The Promoters of the Company are Mr. Nitin Sachdeva, Mr. Manish Iqbalchand Sachdeva, Mr. Mark T. River, Ms. Preeti Sachdeva and M/s delaPlex INC.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.66% |
DelaPlex Limited Financial Information (Restated)
DelaPlex Limited’s revenue increased by 9.69% and profit after tax (PAT) rose by 29.23% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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
The market capitalization of DelaPlex IPO is Rs 174.91 Cr.
| KPI | Values |
|---|---|
| ROE | 40.45% |
| ROCE | 56.73% |
| RoNW | 56.73% |
| P/BV | 0 |
Objects of the Issue (DelaPlex IPO Objectives)
The company proposes to utilize the Net Proceeds from the Fresh Offer towards funding the following objects:
- 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;
