Pace Digitek's initial public offering (IPO) was subscribed 55% or 0.55 times on its second day of bidding so far. The company is looking to raise Rs 819 crores, entirely through fresh issues, with no offer for sale component. The IPO is set to close on Sept. 30, with the allotment expected Oct. 1. The shares are expected to debut on NSE and BSE on Oct. 3.
Price bank has been set at Rs 208–219 per share while 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. Pace Digitek will utilise the funds 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 an MSEDCL project.
Pace Digitek IPO Subscription: Day 2
The Pace Digitek IPO was subscribed 0.55 times or 55% as of 5 p.m. on Monday.
Institutional investors (QIB): 0.23 times or 23%.
Non-Institutional investors (NII): 0.78 times or 78%.
Retail investors: 0.62 times or 62%.
Employee Reserved: 1.09 times
Pace Digitek IPO: GMP
According to InvestorGain, the GMP for the Pace Digitek IPO stood at Rs 18 as of noon on Sept. 29. It indicates a listing price of Rs 237 apiece at a premium of 8.22% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
