Pace Digitek shares settled over 1 percent lower on the debut day at Rs 216 per share on the NSE. The stock was down 4 percent from its open price.
The stock had listed at over 3 percent premium on the stock exchanges on October 6, following a 1.59 times subscription to its IPO between September 26-30 in the primary market.
Shares of the Bengaluru-based Pace Digitek Ltd were listed at Rs 225 per share on the NSE, a premium of 2.74 percent. The issue had a price band of Rs 208-219 per share.
On the BSE, the shares of the telecom infrastructure solutions provider were listed at Rs 226.85 per share, a premium of 3.58 percent. The company's total market capitalization post listing of shares stood at Rs 4,896.59-crore.
Pace Digitek IPO share debut was below than the expectations in the grey market, which had expected over 5 percent listing gains.
Earlier, it mobilised over Rs 245 crore from anchor investors.
Proceeds from the public issue, 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.
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