Pace Digitek IPO to Open on September 26, Aims to Raise Rs 819.15 Crore
Pace Digitek Ltd., a telecom power solutions provider, is launching its IPO from September 26 to 30, 2023. The company aims to raise Rs 819.15 crore by issuing 3.74 crore fresh shares at a price band of Rs 208-219 per share. The grey market shows a premium of Rs 27 per share. Pace Digitek operates in India and international markets, including Africa and parts of Asia. The company's financials show a 21.42% increase in profit after tax for FY25, despite flat revenue growth. Listing is scheduled for October 6 on BSE and NSE.
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Pace Digitek Ltd., a prominent telecom power solutions provider, is set to launch its Initial Public Offering (IPO) on September 26, 2023. The company aims to raise Rs 819.15 crore through a fresh issue of 3.74 crore shares, with the IPO scheduled to close on September 30.
IPO Details
- Price Band: Rs 208 - Rs 219 per share
- Issue Size: 3.74 crore shares
- Subscription Period: September 26 - September 30, 2023
- Minimum Investment: Rs 14,892 for retail investors (68 shares)
- Listing Date: October 6, 2023
- Stock Exchanges: BSE and NSE
Grey Market Premium
The grey market is showing enthusiasm for Pace Digitek's IPO, with a premium of Rs 27 per share. This indicates a potential listing price of Rs 246, suggesting a 12.33% premium over the upper price band.
Company Overview
Pace Digitek Ltd. specializes in providing telecom power solutions. The company has a significant presence not only in India but also in several international markets, including:
- Africa
- Bangladesh
- Myanmar
- Philippines
- Sri Lanka
Financial Performance
The company has demonstrated strong financial growth in recent years:
| Fiscal Year | Revenue (Rs Crore) | Profit After Tax (Rs Crore) | YoY Growth in PAT |
|---|---|---|---|
| FY25 | 2,438.78 | 279.10 | 21.42% |
| FY24 | 2,438.78 | 229.87 | - |
Despite flat revenue growth between FY24 and FY25, Pace Digitek managed to increase its profit after tax by 21.42%, showcasing improved operational efficiency.
Investor Considerations
Potential investors should note that while the grey market premium suggests positive sentiment, it is not an official or guaranteed indicator of the stock's performance post-listing. As with any investment, thorough research and careful consideration of personal financial goals and risk tolerance are advised before participating in the IPO.
The telecom power solutions sector, in which Pace Digitek operates, is crucial for the expanding global telecommunications infrastructure. The company's international presence across multiple emerging markets could be seen as a strategic advantage for growth opportunities.
As the IPO approaches, market observers will be keenly watching how investors respond to this offering in the dynamic telecom infrastructure space.
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