Pace Digitek IPO Day 3: Check Subscription Details, GMP And More
Price band for the IPO 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.
The initial public offering of Pace Digitek enters final day of subscription on Tuesday. The issue was subscribed 55% on day two, with bidding largely led by non-institutional investors.
A telecom infrastructure solution provider based in Bengaluru, Pace Digitek is looking to raise Rs 819 crores, entirely through fresh issues, with no offer for sale component.
The IPO is set to close on Tuesday, with the allotment expected Oct. 1. The shares are expected to debut on NSE and BSE on Oct. 3.
Price band for the IPO 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.
What Does The Company Do?
As mentioned earlier, Pace Digitek is a telecom infra solutions provider which also offers customised surveillance systems, smart classrooms and smart kiosks for agricultural initiatives to the ICT sector.
The company, through its subsidiary, Lineage, has also commenced manufacturing battery energy storage systems (BESS).
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.
