Shares of Data Patterns (India) Ltd. surged on market debut after investors piled into its Rs 588.20-crore initial public offering.
The defense and aerospace electronics solutions provider's stock listed at Rs 856.05, a 46.33% premium to its IPO price of Rs 585, on the National Stock Exchange. The stock hit an intraday high of Rs 864, and closed at Rs 750.50, up 28.29% over its issue price.
The IPO—comprising a fresh issue worth Rs 240 crore and an offer for sale of Rs 348.20 crore—was subscribed 119.62 times. That was one of the top 15 most subscribed IPOs so far in 2021.
Data Patterns is a vertically integrated defence and aerospace electronics solutions provider. It has proven in-house design and development capabilities and experience of more than three decades. Its caters to the space, air, land and sea.
The company has design capabilities across the spectrum of strategic defence and aerospace electronics solutions, including processors, power, radio frequencies and microwave, embedded software and firmware, and mechanical engineering.
These systems have found application in the Tejas Light Combat Aircraft, Light Utility Helicopter, BrahMos missile programme, precision approach radars and various communications intelligence and electronic intelligence systems.
Research Reports On Data Patterns IPO:
Data Patterns IPO - Huge Defence, Aerospace Opportunity; Healthy Order Book: Reliance Securities
Data Patterns IPO - Fastest Growing Player In Defence, Electronics Space: ICICI Direct
Data Patterns IPO - Valuations, Views, Financials, Risks, Concerns: Motilal Oswal
Data Patterns IPO - Capitalising Opportunities: Yes Securities
Watch BloombergQuint's IPO Adda With Data Patterns' Management
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
