IPO
Telecom infra solutions provider Pace Digitek’s Rs.819-Cr IPO subscribed 1.6x
The initial public offer of Bengaluru-headquartered Pace Digitek received bids for 4,40,05,316 shares as against 2,76,06,555 shares on offer. The issue was subscribed 1.59 times. The IPO consists of a fresh issue of INR 819.15 crore.The Non-Institutional Investors (NIIs) category was subscribed 2.90 times, the Qualified Institutional Buyers (QIBs) category, 1.60 times and the Retail Individual Investors (RIIs) category, 1.03 times. The price band of the IPO was fixed between INR 208 and INR 219 per share.Pace Digitek (PDL) offers manufacturing, installation, commissioning, and operation & maintenance (O&M) services for telecom towers and optical fibre networks.Out of the proceeds from the fresh issue, INR 630 crore will be invested in subsidiary Pace Renewable Energies to set up battery energy storage systems for a project with Maharashtra State Electricity Distribution Company.Ahead of the IPO, Pace Digitek raised INR 245.14 crore from anchor investors.The firm reported a consolidated net profit of INR 267.61 crore and sales of INR 2,438.78 crore for the twelve months ended on 31st March 2025.
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