Data Patterns’ IPO will list on exchanges tomorrow; GMP indicates strong listing at ₹230
- Data Patterns, an electronic solutions provider for the defence and aerospace segment, is set to list its IPO on exchanges tomorrow, December 24 .
- The IPO was open for subscription between December 14 and December 16.
- Shares of the company are commanding a strong premium of ₹230 in the grey market.
In the three days of the IPO bidding process, the company received an amazing response from investors as it has been subscribed 119.62 times.
The grey market premium of the company at ₹230 indicates a strong listing for Data Patterns shares along with bullish views by analysts.
AdvertisementAlso, analysts are very bullish on the service provider to defence sector, which is reflected in the grey market premium which stands at ₹280 per share as of December 20.
The company intended to raise ₹588 crore and got an offer for ₹49,665 crore through the IPO with a price band of ₹555 to ₹585 per share.
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.
Data Patterns is among the top two players — in terms of profitability — providing solutions to the defence sector, first being Bharat Electronics.
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.
SEE ALSO: Not received Data Patterns’ IPO refund? Here are the things you should know about
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