Pace Digitek IPO Subscription Status: Day 2 Update
Pace Digitek’s initial public offering (IPO) was subscribed 55% or 0.55 times on its second day of bidding so far. The company is looking to raise Rs 819 crores, entirely through fresh issues, with no offer for sale component.
The IPO is set to close on September 30, with the allotment expected on October 1. The shares are expected to debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 3.
IPO Details: Price Band, Lot Size, and More
The price band for the IPO has been set at Rs 208-219 per share, while the minimum lot size for a retail investor stands at around 68 shares. This translates to a minimum investment of Rs 14,892.
On September 25, Tuesday, Pace Digitek already raised Rs 245 crore through anchor investors, which include Societe Generale, Bandhan Mutual Fund, and SBI General Insurance.
Utilization of Funds
Unistone Capital Ltd. is the book running lead manager, and MUFG Intime India Ltd. is the registrar of the issue. Pace Digitek will utilize the funds raised through the IPO for capital expenditure and general corporate purposes.
Out of the Rs 819 crore raised, the company plans to utilize Rs 630 crore on battery energy storage system (BESS) for an MSEDCL project.
Subscription Status: Institutional, Non-Institutional, and Retail Investors
The Pace Digitek IPO was subscribed 0.55 times or 55% as of 5 p.m. on Monday.
Institutional investors (QIB): 0.23 times or 23%.
Non-Institutional investors (NII): 0.78 times or 78%.
Retail investors: 0.62 times or 62%.
Employee Reserved: 1.09 times
Grey Market Premium (GMP) and Expected Listing Price
According to InvestorGain, the GMP for the Pace Digitek IPO stood at Rs 18 as of noon on September 29. This indicates a listing price of Rs 237 apiece at a premium of 8.22% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Should You Invest in Pace Digitek IPO?
Before making an investment decision, it’s essential to consider the company’s financials, growth prospects, and industry trends.
Pace Digitek is a leading player in the energy storage and renewable energy sector. The company has a strong track record of executing large-scale projects and has a robust order book.
However, the IPO market has been volatile in recent times, and investors should exercise caution before investing.
It’s recommended that investors do their own research, consult with financial advisors, and consider their own risk tolerance before making an investment decision.
Internal Linking Opportunities
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