Data Patterns Listing: Data Patterns has a great start in the domestic market today, investors got a bumper listing gain of 48%
Data Patterns Listing: Amidst the volatile market, today the shares of Data Patterns, a company supplying electronic systems for the defense and aerospace sectors, were listed on the domestic exchange.
Data Patterns Listing: Amidst the volatile market today (December 24), the shares of Data Patterns (India), a company supplying electronic systems for the defense and aerospace sectors, were listed on the domestic exchange. Its shares had a great start and were listed at a premium of about 47.69 percent i.e. Rs 864 against the issue price. The price band for this issue was fixed at Rs 555-585 per share. Under its Rs 588 crore IPO, new shares worth Rs 240 crore have been issued while shares worth Rs 348 crore have been sold through offer for sale (OFS).
The shares of Data Patterns are listed in the domestic market with a market cap of Rs 4483 crore. It will use the capital raised through new shares to pay off debt, meet its working capital requirements and for expansion and up-gradation of its existing plant. Most of the brokerage firms had advised to subscribe to this issue.
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IPO received great response from investors
The IPO of Data Patterns was open for subscription between December 14-16 and received an overwhelming response from investors. This issue was subscribed 119.62 times. The maximum portion reserved for non-institutional investors was subscribed. The NII share was subscribed 254.22 times, Qualified Institutional Investors (QIB) share 190.86 times and the share reserved for retail investors 23.14 times.
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Know about the company
- The foundation of this company was laid by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan. The company provides defense and aerospace electronic solutions.
- It provides defense and aerospace electronics solutions in space, air, land and sea. Data Patterns works closely with Hindustan Aeronautics Limited and Bharat Electronics, an organization working in defense and research research, apart from DRDO.
- The order book of the company has grown at a CAGR of 40 per cent over the last four years and now stands at Rs 582.30 crore.
- In the financial year 2020-21, the company had achieved a revenue of Rs 226.65 crore. The revenue in the financial year 2019-20 was Rs 160.19 crore. The company’s profit in the financial year 2020-21 was Rs 55.57 crore, while the profit in the financial year 2019-20 was Rs 21.05 crore.
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