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Pace Digitek Ltd Set for Rs 900 Crore IPO Launch
Pace Digitek Ltd, a company specializing in telecom passive infrastructure, files for a Rs 900 crore IPO to be listed on NSE and BSE. With IPO proceeds aimed at capital expenditure and corporate purposes, the pre-IPO placement could adjust the fresh issue size. Revenue reached Rs 1,188 crore, with Rs 152 crore in profit.
Pace Digitek Ltd, a leader in telecom passive infrastructure solutions, has taken the significant step of filing for an initial public offering (IPO) to amass Rs 900 crore. The Bengaluru-based firm's move was formalized with documents submitted to the Securities and Exchange Board of India (SEBI) this Thursday.
According to the draft red herring prospectus, the IPO will be a fresh issue of shares. Furthermore, the company is contemplating a pre-IPO placement of Rs 180 crore, which could lead to a corresponding reduction in the fresh issue size.
The proceeds, estimated at around Rs 630 crore, are designated for capital expenditure and general corporate objectives. Established in 2007, Pace Digitek has reported significant financials: Rs 1,188 crore in revenue and a profit after tax of Rs 152 crore for the first half of 2024. Unistone Capital will act as the sole book-running lead manager for the IPO, with shares to be listed on the NSE and BSE.
Source: Devdiscourse
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