Pace Digitek IPO Fully Subscribed on Day 3; GMP Signals 8% Premium
Rubicon Research IPO Details: Allotment, Subscription, Share Price & Listing Date
Pace Digitek IPO fully subscribed on day 3 with strong NII demand. The ₹819 crore issue closes Tuesday, allotment on Oct 1, listing on Oct 3. GMP hints at ₹237 listing price.
Pace Digitek IPO Fully Subscribed on Day 3
The IPO of Pace Digitek was completely subscribed on the third day, mainly because of strong demand from non-institutional investors.
The company, based in Bengaluru, wants to raise ₹819 crore. This money will come only from fresh shares. There is no offer for sale by existing shareholders.
The IPO closes on Tuesday. Shares will be allotted on October 1 and will list on NSE and BSE on October 3.
The price range for each share is ₹208 to ₹219. The minimum lot size for retail investors is 68 shares. This means investors need at least ₹14,892 to apply.
On September 25, Pace Digitek collected ₹245 crore from anchor investors. Big names like Societe Generale, Bandhan Mutual Fund, and SBI General Insurance invested in it. Unistone Capital Ltd. is the lead manager. MUFG Intime India Ltd. is the registrar.
- Subscription details on Day 3 (till 3:36 p.m.):
- Qualified Institutional Buyers (QIB): 1.58 times
- Non-Institutional Investors (NII): 2.78 times
- Retail Investors: 0.99 times
- Overall: 1.56 times
About the company:
Pace Digitek works in telecom infrastructure solutions. It also provides surveillance systems, smart classrooms, and smart kiosks for farming projects. Through its subsidiary Lineage, it has started making battery energy storage systems (BESS).
Grey Market Premium (GMP):
On September 29, the GMP was ₹18. This shows the stock could list at ₹237 per share, about 8% higher than the top end of the price band.
