Data Patterns’ Stock Makes an Electrifying Debut

KOCHI:
Data Patterns (India) Limited (the “Company”), a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry, listed on the NSE at Rs 856.05 at 46.33% premium over its issue price. The scrip got listed at BSE at Rs 864 per share, a 47.69% per cent p/remium over its issue price of Rs 585. The shares of the company at day end closed at Rs. 754.85 per share on BSE and at Rs 750.50 per share on NSE. The initial public offering was offered at a lower price band of Rs 555 per share and higher price band of Rs 585 per equity share.

As per BSE, the total quantity traded stood at 10.44 lakh shares with a delivery quantity percentage of 43.95%. Total Quantity traded at NSE stood at 134.92 lakh shares with a delivery quantity percentage of 33.60%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1167.92 crore.

Mr. Srinivasagopalan Rangarajan, Chairman and Managing Director, Data Patterns (India) Limited said “Today marks an important milestone for Data Patterns, sincere gratitude to all stakeholders and investors who have bestowed their faith in us. This is beginning of journey for us and we are committed to long term shareholder value accretion in long run through consistent performance growth. We appreciate the responsibility given to us and will work harder to deliver returns to all our shareholders”.

The Market Capitalization of the Company post today’s closing price stood at Rs. 3916.66 crore as per BSE and Rs. 3894.09 crore as per NSE.

The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by the promoter and individual selling shareholders and the issue was closed on 16th December 2021. The portion reserved for retail investors was subscribed 23.14 times. While the Qualified Institutional Buyer category was subscribed 190.86 times, the Non-Institutional Investor category was subscribed 254.22 times. Overall the issue was subscribed 119.62 times.

JM Financial Limited, IIFL Securities Limited were the book running lead managers to the issue.