Data Patterns IPO share allotment today

After receiving a strong response for its initial public offering on December 13-15, Data Patterns India will finalise the basis of its share allotment today.

The issue of the defense and electronics solutions provider was subscribed 119.6 times, with retail investors’ portion subscribed 23 times. Qualified institutional buyers and non-institutional investors bid for a whopping 190 and 254 times the portion of shares reserved for them, respectively.

The company will raise Rs 588 crore through the public issue. Of this, Rs 240 crore as a fresh issue will be utilized for capex expenditure, debt repayment and funding of working capital requirement.