Data Patterns IPO opens today; 10 Key points to note before subscribing to the public issue
Data Patterns (India) Limited is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry, one of the fastest-growing companies in the Defence and Aerospace Electronics sector in India. The IPO consists of the public issue comprises a fresh issue of shares worth ₹240 crore and an offer for sale (OFS) of 59.52 lakh equity shares by promoters and individual selling shareholders
Date: Data Patterns IPO subscription to start from today Dec 14 to Dec 16, 2021
Price band: The price range for the offer has been fixed at Rs 555 – 585 per share.
IPO Lot size: Investors can bid for a minimum of 25 equity shares and in multiples thereof. At the upper end of the price band, one lot is worth Rs 14,625 and maximum of 13 lots, i.e. 325 equity shares and its worth Rs. 1,90,125
Grey market premium: As per the sources, the Data Patterns IPO is trading at a premium of Rs 580 per shares in the grey market [Also Read: Data Patterns IPO GMP, Grey Market Premium]
Fund utilisation: Data Patterns will use the IPO for Prepayment or repayment of all, or a portion, of certain outstanding borrowings availed by the Company, Funding working capital requirements of the Company, Upgrading and expanding the existing facilities at Chennai and General corporate purposes
Investor categories: Fifty percent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and 35 percent for retail investors.
Also Read: Data Patterns IPO Subscription Status
Peers: MTAR Technologies, Astra Microwave Products, Centum Electronics, Bharat Electronics and Paras Defence and Space Technologies are the peer groups for Data Patterns
Promoters: Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan are the company promoters
Lead managers: JM Financial Limited and IIFL Securities Limited are the book running lead managers to the issue.
Registrar: Link Intime India Private Limited is the Registrar for this issue.
Financials: Data Patterns reported a profit of Rs 555.71 million for FY21, up from Rs 210.40 million in FY20. Revenue during the same period increased to Rs 2,265.50 million from Rs 1,601.92 million.
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