Bengaluru-based Pace Digitek, the service provider in power management, optic fiber laying, and energy management solutions, has filed draft papers with the SEBI, as it plans to raise Rs 900 crore via initial public offering.
The IPO comprises of entirely fresh issue with no offer-for-sale component.
Further, the company may consider raising funds up to Rs 180 crore in pre-IPO round. If it successfully closes the pre-IPO placement, the said amount will be reduced from the fresh issue.
Pace Digitek provides end-to-end integrated solutions in the telecom tower infrastructure and optical fibre cables. It also undertakes solar energy projects on a build, own and operate model, and solarization of telecom towers, as well as rural electrification projects under engineering, procurement and construction (EPC) model.
The company is going to spend Rs 630 crore out of net fresh issue proceeds for setting up battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company (MSEDCL), and the remainder for general corporate purposes.
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The telecom business contributed maximum 94-95 percent to company's revenue. Its net profit for the fiscal 2024 increased nearly 14-fold to Rs 229.9 crore compared to Rs 16.5 crore in the previous fiscal, and revenue grew by nearly 5-fold to Rs 2,434.5 crore, from Rs 503.2 crore during the same period. Profit in six months period ended September 2025 stood at Rs 152 crore on revenue of Rs 1,188.3 crore.
Unistone Capital is appointed as the book running lead manager to the issue.
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