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Pace Digitek files papers with Sebi to raise Rs 900-cr via IPO
New Delhi, Mar 28 (PTI) Pace Digitek Ltd, a multi-disciplinary solutions provider specializing in telecom passive infrastructure industry, has filed preliminary papers with markets regulator Sebi for an initial public offering (IPO) to raise Rs 900 crore.
The Bengaluru-based company's IPO is completely a fresh issue of shares, according to the draft red herring prospectus (DRHP) filed on Thursday.
The company may consider raising Rs 180 crore through a pre-IPO placement round. If such a placement is completed, the fresh issue size will be reduced.
Proceeds from the IPO to the tune of Rs 630 crore will be used for funding capital expenditure requirements and a portion will be allocated towards general corporate purposes.
Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider specializing in telecom passive infrastructure industry including telecom tower infrastructure and optical fibre cables.
For the six months ended September 30, 2024, Pace Digitek's revenue from operations stood at Rs 1,188 crore and profit after tax stood at Rs 152 crore.
Unistone Capital is the sole book-running lead manager of the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd (NSE) and BSE Ltd.
Source: The Week
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