Pace Digitek IPO Opens Today — Check Issue Price, GMP And Other Details

As the IPO frenzy continues this week, another issue in Pace Digitek is set to open for subscription on Wednesday.

The issue is looking to raise Rs 819 crores, entirely through fresh issues, with no offer for sale component. The IPO is set to close Sept. 30, with the allotment expected Oct. 1. The shares are expected to debut on NSE and BSE on Oct. 3.

The IPO is priced in the range of Rs 208–219 per share. The minimum lot size for a retail investor stands at around 68 shares, which comes down a minimum investment of Rs 14,892.

On Sept. 25, Tuesday, Pace Digitek already raised Rs 245 crore through anchor investors, which include Societe Generale, Bandhan Mutual Fund and SBI General Insurance.

Unistone Capital Ltd. is the book running lead manager and MUFG Intime India Ltd. is the registrar of the issue.

Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provided focused on telecom, energy, and ICT services.

In the telecom space, the company manufactures passive equipment,.undertakes operations and maintenance of towers. The company also executes turnkey projects such as tower erection and fibre network development.

Pace Digitek's energy division handles solar projects under a build-own-operate model, solarises telecom towers with lithium-ion batteries.

The company has two manufacturing facilities in Bengaluru and employs over 1,500 people.

Pace Digitek will utilise the fund raised through IPO for capital expenditure and general corporate purposes.

Out of the Rs 819 crore raised, the company plans to utilise Rs 630 crore on into battery energy storage system (BESS) for a MSEDCL project.

According to InvestorGain, the GMP for the Pace Digitek IPO stood at Rs 32 as of 9 a.m. on Sept. 26. It indicates a listing price of Rs 251 apiece at a premium of 14.61% on the upper limit of the price band. 

Note: GMP does not represent official data and is based on speculation.