Last day to subscribe to Data Patterns’ IPO; GMP at ₹550 per share
- Data Patterns, an electronic solutions provider for the defence and aerospace segment, is planning to raise ₹588 crore through the IPO.
- The IPO has been subscribed 7.68 times in the first two days of subscription process.
- Shares of the company are commanding a premium of ₹550 in the grey market.
AdvertisementToday, December 16, is the last day to subscribe to Chennai-based Data Patterns, an electronic solutions provider for the defence and aerospace segment, initial public offering (IPO).
In the first two days of the subscription process, the IPO received a huge response from investors as it was oversubscribed by 7.68 times.
The company is looking to raise ₹588 crore through the IPO with a price band of ₹555 to ₹585 per share.
|Category of investors||Subscription status|
|Qualified institutional buyers||0.92 times|
|Non institutional investors||5.20 times|
Incorporated in 1985, Data Patterns is an integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea.
While analysts are very bullish on the service provider to defence sector, the company’s shares are commanding a huge premium of ₹550 in the grey market.
As on September 30, 2021, Data Patterns had an order book of 581.30 crore, with orders from several marquee customers including the Indian government defence ministry, BrahMos, Defence Research and Development Organisation, the Indian government space organisation, Hindustan Aeronautics, Bharat Electronics etc.
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