The share reserved for QIBs got subscribed 190.86 times while NII got subscribed 254.22 times.
The IPO of Data Patterns, a company that supplies electronic systems to the defense and aerospace sectors, closed on Thursday after being subscribed 119.62 times. According to NSE data, bidding was done for 84,89,85,725 shares against 70.97,825 shares to be issued under the IPO.
Good response from retail investors as well
The share reserved for QIBs got subscribed 190.86 times while NII got subscribed 254.22 times. The portion reserved for retail investors got subscribed 23.14 times. The price band of Data Patterns shares is Rs 555-585. The company will use the funds raised through the IPO to repay the debt and also meet the working capital requirements. Apart from this, the company will use this fund for upgradation and expansion of existing plants.
Data Patterns Integrated Defense and Aerospace Solution Provider
Data Patterns is backed by Matthew Cyrak, Head of Blackstone. He has invested in it through Florintree Capital Partners LLP. The company has a 12.8 percent stake in it. The foundation of Data Patterns was laid by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan. Data Patterns is an integrated defense and aerospace solution provider that caters to all the needs of space, air, land and sea. The company Hindustan Aeronautics Ltd. Bharat Electronics Ltd. Along with this, it also works closely with government organizations related to defense and space research like DRDO.
Jhunjhunwala Portfolio: The stock that Rakesh Jhunjhunwala left, why did it rise so much – know what experts are saying
Advice on subscribing for listing gains
Considering the company’s strong order book of Rs 589 crore, profits from the last three years and participation in key defense projects due to its unique capabilities, most brokerages have advised investors to ‘subscribe for listing gains’ in the IPO. .
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
.