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Data Patterns sets IPO price band at Rs 555-585 per share, to raise Rs 588 crore

Data Patterns IPO | Half of the offer is reserved for qualified institutional investors, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.

December 09, 2021 / 07:36 AM IST
Data Patterns IPO

Data Patterns IPO

Defence and aerospace electronics solutions provider Data Patterns India on December 9 fixed the price band at Rs 555-585 per equity share for its maiden public offer. The issue will open for subscription during December 14-16, 2021.

Anchor book of the company, if any, will open for bidding on December 13, a day before issue opening.

The offer comprises a fresh issue of Rs 240 crore and an offer for sale of 5.95 million equity shares by promoters. The issue will fetch the company Rs 588.22 crore.

The company will repay its loans, support working capital, upgrade and expand facilities at Chennai, through its fresh issue proceeds.

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Investors can bid for a minimum of 25 equity shares and in multiples of 25 shares thereafter. Retail investors can invest a minimum of Rs 14,625 for a single lot and their maximum investment would be Rs 1,90,125 for 13 lots.

Half of the offer is reserved for qualified institutional investors, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.

Also readMapmyIndia raises Rs 312 crore from anchor investors

Data Patterns designs strategic defence and aerospace electronics solutions including processors, power, radio frequencies and microwave, embedded software and firmware and mechanical engineering.

The share allotment of the company will get finalised by December 21. The funds will be refunded to unsuccessful investors by December 22 and successful investors will get their shares in demat accounts by December 23.

The listing of shares on the BSE and National Stock Exchange will take place on December 24.

JM Financial and IIFL Securities are the book-running lead managers to the issue.
Moneycontrol News
first published: Dec 9, 2021 07:22 am

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