Pace Digitek IPO subscribed 1.6 times on final day of bidding - check GMP

Pace Digitek IPO fully subscribed on Day 3 of issue on September 30.

Pace Digitek IPO got fully subscribed on the final day of subscription on September 30.

The initial share sale of telecom infrastructure solutions provider Pace Digitek received 1.59 times subscription on the Day - 3 of offering on Tuesday. The IPO received bids for 4.39-crore shares against 2.76-crore shares on offer, according to NSE data.

The category for non-institutional investors was subscribed 2.9 times, and retail individual investors (RIIs) received 1.03 times subscription. Qualified institutional buyers (QIBs) quota fetched 1.6 times subscription.

Earlier, it mobilised over Rs 245 crore from anchor investors.

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Pace Digitek IPO GMP Today News

According to platforms tracking the grey market activities, the shares of the company are commanding a flat GMP in the unregulated market today.

The proceeds from IPO of the Bengaluru-based company amounting to Rs 630 crore, will be used to fund capital expenditure requirements, and a portion will be allocated towards general corporate purposes.

Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider, specialising in the telecom passive infrastructure industry, including telecom tower infrastructure and optical fibre cables.

Pace Digitek IPO shares will be allotted by October 1, while the share listing is scheduled on October 6.

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