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Data Patterns (India) Limited IPO to open on December 14
Rainbow Medicare files IPO papers
Data Patterns (India) Limited, vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Tuesday, December 14.
Chennai: Data Patterns (India) Limited, vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the "Offer") on Tuesday, December 14. The Bid/Offer Period will close on Thursday, December 16. The Price Band for the Offer has been fixed at ₹ 555 – ₹ 585 per Equity Share.
The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by Selling Shareholders. The OFS includes sale of up to 19,67,013 equity shares by Srinivasagopalan Rangarajan, up to 19,67,012 equity shares by Rekha Murthy Rangarajan, up to 75,000 equity shares by Sudhir Nathan, up to 4,14,775 equity shares by G.K. Vasundhara and up to 15,28,750 equity shares by existing shareholders.
Florintree- backed defence and aerospace electronics company has undertaken a pre-IPO placement of 10,39,861 equity shares aggregating for up to Rs 60 crore. The company intends to utilise net proceeds from the fresh issue to the extent of Rs 60.80 crore for prepayment / repayment of certain outstanding borrowings availed by the Company, Rs 95.19 crore for funding its working capital requirements, Rs 59.84 crore for upgrading and expansion of its existing facilities at Chennai and general corporate purposes.
Data Patterns has a net profitability growth of approximately 164 per cent between fiscal 2020 and fiscal 2021 and is one of the fastest-growing companies in the Defence and Aerospace Electronics sector in India. Its core competencies include electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, manufacturing, functional testing and validation, environment testing and verification, and after sales support engineering services.
The Offer is being made through the Book Building Process, in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50 per cent of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15 per cent of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35 per cent of the Offer shall be available for allocation to Retail Individual Bidders.
