Electronic systems supplier to the defense and aerospace sectors, Data Patterns (India) Limited’s Initial Public Offering (IPO) will be announced tomorrow, December 14th. .
This issue, with a price range of Rs 555-585 per share, will be open for public sale from December 14 to 16.
The issue is expected to fetch Rs 588.22 crore at the upper end of the price range.
Prior to the IPO, the company announced today that it had raised Rs 176 crore from anchor investors.
According to a circular on the website of Bombay stock exchange, the company has allocated 30.16 lakh shares to fix investors at Rs 585 each, total trading size of Rs 176.46 .
The anchor book has seen participation from domestic mutual funds including HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak MF, Aditya Birla Sun Life MF and Tata MF.
In addition, life insurers such as HDFC Life Insurance Company and Tata AIA Life Insurance Company Limited as well as other institutional investors Nomura Funds, White Oak Capital and Enam were also allocated. shares in the anchor book.
The public offering consisted of a new share issue of Rs 240 crore and an offering (OFS) of 59,52 lakh shares of equity by promoters and individual selling shareholders. .
OFS includes the sale of up to 19,67 lakh shares each for Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, up to 75,000 by Sudhir Nathan, up to 4.150,000 shares of GK Vasundhara and up to 15,280,000 shares of capital owners of other existing shareholders.
The Company intends to use the proceeds from the new issue to repay debt, finance working capital and upgrade and expand existing facilities in addition to general corporate purposes.
https://www.ndtv.com/business/data-patterns-ipo-to-open-tomorrow-for-subscription-read-details-here-2649541 IPO data forms to open tomorrow for registration. Read the details here