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Pace Digitek files draft papers with Sebi for Rs 900 crore IPO
Pace Digitek aims to use proceeds from the fresh issue to the tune of Rs 630 crore for funding capital expenditure requirements and general corporate purposes.
Pace Digitek Ltd has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise Rs 900 crore via an initial public offering (IPO). The initial share sale, with a face value of Rs 2, consists entirely of fresh issuance of shares.
According to the DRHP, the may consider a further issue of specified securities, including through private placement, preferential allotment, rights issue, or any other method aggregating up to Rs 180 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Source: Market Today
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