Subscribe to Data Patterns (India): Choice Equity Broking

Choice Equity Broking has come out with its report on Data Patterns (India). The research firm has recommended to ''Subscribe'' the ipo in its research report as on December 13, 2021.

Broker Research

December 13, 2021 / 14:44 IST

MapmyIndia IPO

26 Aug, 2025 12:21

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Choice Equity Broking IPO report on Data Patterns (India)

Chennai-based specialist in defence & aerospace electronics system, Data Patterns (India) Ltd. (DPIL), is coming up with an IPO to raise Rs. 590cr, which opens on 14th Dec. and closes on 16th Dec. 2021. The price band is Rs. 555 - 585 per share. The company has undertaken a pre-IPO placement and allotted 10.4lakh shares at Rs. 577 per shares on 29th Oct. 2021. Total amount realized was Rs. 60cr. Consequently, the fresh issue size was reduced from Rs. 300cr (as indicated in the DRHP) to Rs. 240cr. The issue is a combination of fresh and OFS. The company will not receive any proceeds from the OFS part of the issue. From the fresh issue net proceeds, Rs. 60.8cr will be used for the prepayment/repayment of the borrowings availed by the company; Rs. 95.2cr will be utilized to fund the working capital requirement and Rs. 59.8cr will be used for funding the upgrades & expansion of the existing manufacturing facilities.

Valuation and Outlook

Thus the issue seems be fully priced. However, with favorable macros and diversified product profile, the company has the potential to expand its business and earnings. Thus considering the above observations, we assign a “Subscribe for Long Term” rating for the issue.

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