Pace Digitek IPO got subscribed 55 percent on the second day of share sale on Monday. The initial share sale by the telecom infrastructure solutions provider received bids for over 1.5-crore shares against 2.76-crore shares on offer, as per NSE data.
The quota for Retail Individual Investors (RIIs) received 62 percent subscription, while the portion for Qualified Institutional Buyers (QIBs) got subscribed 23 percent. Non-Institutional Investors category received 78 percent subscription. Earlier, it mobilised over Rs 245 crore from anchor investors.
Pace Digitek IPO GMP Today News
According to platforms tracking the grey market activities, the shares of Pace Digitek are commanding a GMP of about 6 percent in the unregulated market. Investorgain quoted a GMP of Rs 14 for the shares of the company, indicating a listing gain of 6.39 percent.
The issue, with a price band of Rs 208 to Rs 219 per share, will conclude on September 30.
Proceeds from 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 allotment is expected by October 1, while share listing is scheduled to take place on October 6.
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