Data Patterns makes a stellar debut, lists at over 47% premium

BL Mumbai Bureau | | | Updated on: Dec 24, 2021

It listed at ₹856.05, up ₹271.05 or 46.33 per cent over its issue price on the NSE

Chennai-based Data Patterns made a stellar debut on the bourses on Friday, listing at over 47 per cent premium over its IPO price of ₹585. Data Patterns listed at ₹864 on the BSE, up ₹279.00 or 47.69 per cent from its issue price. It listed at ₹856.05, up ₹271.05 or 46.33 per cent over its issue price on the NSE.

The company had fixed the IPO price at ₹585, with the upper end of the price band at ₹555–585. While the retail portion was subscribed 23.41 times, the quota for non-institutional and qualified institutional buyers had received bids 254.22 times and QIBs by 190.86 per cent.

Also read: Will it be blockbuster listing for Data Patterns?

The ₹588-crore IPO consists of a fresh issue of ₹240 crore. The company had raised ₹176 crore from anchor investors ahead of its initial share by allotting 30.16 lakh shares at ₹585 a share.

The anchor book has seen strong participation from domestic mutual funds (HDFC MF, ICICI Pru MF, Axis MF, Kotak MF, Birla MF, Nippon MF, FT MF, Tata MF, PGIM MF and IIFL MF), life insurance companies (HDFC Life and Tata AIA Life) and other institutional investors (Nomura Funds, White Oak Capital and Enam).

The fresh issue money will be utilised for capital expenditure requirements, and repaying of debts.

Published on December 24, 2021
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