Pace Digitek, a Bengaluru-based telecom infrastructure and energy storage solutions provider, is set to conclude its Initial Public Offering (IPO) process with key dates announced for allotment and listing.

IPO Details and Subscription Status

The company's Rs 819 crore IPO, priced in the range of Rs 208-219 per share, has garnered mixed interest from various investor categories. The overall subscription rate stood at 1.68 times, indicating a moderate response from the market. Here's a breakdown of the subscription rates across different investor categories:

Key Dates for Investors

Investors who participated in the IPO should take note of the following important dates:

• Allotment Finalization: October 1, 2023
• Credit of Shares to Demat Accounts: By October 3, 2023
• Refund Initiation (for unsuccessful applicants): October 3, 2023
• Listing Date: October 6, 2023 (on both BSE and NSE)

Checking Allotment Status

Investors can verify their allotment status through two official channels:

1. Registrar's Website: MUFG Intime India's portal
2. BSE Website

Market Sentiment and Grey Market Premium

The current grey market premium for Pace Digitek stands at a modest Rs 1, suggesting that the market expects a listing close to the issue price of Rs 219. This indicates a potentially muted debut on the stock exchanges.

Utilization of IPO Proceeds

Pace Digitek has outlined that the funds raised through this IPO will be allocated towards:

1. Capital expenditure
2. General corporate purposes

This strategic allocation aims to support the company's growth and operational needs in the competitive telecom infrastructure and energy storage solutions sector.

Conclusion

As Pace Digitek prepares for its market debut, investors and market watchers will be keenly observing its performance, given the moderate subscription rates and the current grey market indicators. The telecom and energy storage sectors continue to be areas of interest, and Pace Digitek's market reception could provide insights into investor sentiment in these domains.

Pace Digitek's Initial Public Offering (IPO) entered its second day of subscription, with investors showing moderate interest in the telecommunications and energy sector player. The company aims to raise Rs 819.00 crore through the issuance of 3.94 crore equity shares.

Subscription Status

On Day 2, the IPO witnessed an overall subscription of 16%, indicating a cautious start. The subscription details across different investor categories are as follows:

• Retail investors: 18% of allocated shares
• Institutional investors: 9% of allocated shares
• Qualified Institutional Buyers (QIBs): 17% of reserved shares

Grey Market Premium

The grey market premium for Pace Digitek shares has seen a significant decline:

• Current premium: 5.5% (Rs 12.00)
• Previous premium: 14%

This drop suggests a possible listing price of Rs 231.00, compared to the upper price band of Rs 219.00.

IPO Timeline

• Closing date: September 30
• Expected allotment date: October 1
• Scheduled listing date: October 6

Company Overview

Pace Digitek operates in the telecommunications, energy, and Information and Communications Technology (ICT) sectors. The company has shown substantial growth in recent years:

• Revenue growth: From Rs 405.00 crore to Rs 2,439.00 crore
• Net profit: Rs 279.00 crore
• Current order book: Rs 7,634.00 crore

Post-IPO Shareholding

The promoter shareholding in Pace Digitek is expected to decrease from 84.1% to 69.5% after the IPO.

Use of Proceeds

The company plans to utilize the IPO proceeds as follows:

• Rs 630.00 crore: Funding battery energy storage system deployment
• Remaining funds: General corporate purposes

Financial Table

Investors are advised to carefully consider the company's financials, growth prospects, and market conditions before making an investment decision. The moderate subscription levels and declining grey market premium suggest a cautious sentiment among investors towards this IPO.