Data Patterns - Board Approves QIP Of Rs 500 Crore: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Data Patterns India Ltd. is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry. The board has approved the allotment of 40.97 lakh shares through qualified institutional placement at an issue price of Rs 1220.31 per share (face value at 2), aggregating to Rs 500 crore.Issue price is at a discount of 5% on the floor price and 7.1% discount to Monday’s closing. Promoter holding post the issue will be diluted to 42.4% from 45.8% with earnings per share dilution at 7.3%.Net proceeds to be utilised mainly towards funding working capital requirements, investment in product development, debt repayment and capex. Key triggers for future price performance:Strong order inflows with healthy pipeline of orders worth Rs 2,000-3,000 crore in the next two to three years provides strong visibility.Defence electronics provides an opportunity of ~Rs 1.5 lakh crore in the next four to five years led by armed forces’ requirement of advanced systems.Fire control system for BrahMos missile, avionics for light combat aircraft, radar warning receiver for fighter aircraft, electronic intelligence for airborne and ground platform and radar subsystems are key orders in the pipeline in FY23 for Data Patterns..Click on the attachment to read the full report:.Voltamp Transformers - Key Beneficiary Of Industrial Capex Revival: ICICI Securities Initiates Coverage.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Data Patterns - Board Approves QIP Of Rs 500 Crore: ICICI Direct

The board has approved the allotment of 40.97 lakh shares through QIP at an issue price of Rs 1220.31 per share.

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