INSUBCONTINENT EXCLUSIVE:
Data Patterns soldshares in the price band of Rs 555-585 per equity share.Data Patterns (India) Limited's initial public offer (IPO) was
subscribed 119.62 times on the third and final day of its issue, according to subscription data on the stock exchanges
The IPO of the electronics solutions provider opened on December 14 and closed today, December 16 - remaining open for investors for a
period of three days.On Thursday, the portion reserved for non-institutional investors for 254.22 times - the highest among the three groups
The portion set aside for qualified institutional buyers or QIB was subscribed 190.86 times, while the portion reserved for retail
individual investors was subscribed 23.14 times today.The IPO on the last day of subscription received bids for 84,89,85,725 shares against
70,97,285 shares on offer, according to NSE data
The issue comprised a fresh issue component of up to Rs 240 crore and an offer for sale up to 59,52,550 equity shares
The company sold shares in the price band of Rs 555-585 per equity share.Data Patterns intends to utilise the net proceeds from the fresh
issue for debt repayment, funding its working capital, and expansion of its existing facilities besides general corporate purposes.''We like
DPL given its vertically integrated business model, well-diversified portfolio, robust order book and strong client relationship along with
The issue is valued at 55x FY21 P/E (on a post issue basis), v/s
167x for MTAR and 138x for Paras Defense.We believe it could benefit from the government impetus on the defense/ aerospace expenditure
Hence we recommend Subscribe,'' said domestic brokerage firm Motilal Oswal Retail Research in its IPO note.Data Patterns is a vertically
integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land, and sea
It is backed by former Blackstone head Matthew Cyriac via Florintree Capital Partners LLP, which holds a 12.8 per cent stake in the company.
