Data Patterns IPO has been getting good response from investors as the issue was subscribed 7.68 times around 05:00 pm on Wednesday. On the second day, the IPO received bids for 5,44,91,050 shares against the reserved quota of 70,97,285 shares.  

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The Retail Individual Investors (RIIs) subscribed the issue 12.42 times, the Non-Institutional Investors 5.2 times, while the QIBs portion filled almost full by 0.92 times on day 2.  

Earlier, on the first day, Data Patterns IPO was subscribed 3.3 times as against 70,97,285 reserved shares, the bids were made for 2,34,31,875 shares. The retail investors had oversubscribed the issue within an hour on the Day 1.  

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Founded by Srinivasa Gopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea.

Earlier, the three-day share sale of supplier of electronic systems kick-started on Tuesday and will close on December 16, 2021.  

The company has fixed a price band of Rs 555-585 per share for its three-day IPO.  

Data Patterns IPO comprises a fresh issue of shares worth Rs 240 crore and an offer for sale (OFS) of 59.52 lakh equity shares by promoters and individual selling shareholders. The company is expected to fetch Rs 588.22 crore at the upper end of the price band.  

Zee Business Managing Editor Anil Singhvi on Tuesday had recommended to apply for listing gain and with long-term time horizon.  

Marwadi shares and Finance Limited had assigned “Subscribe” (With Caution) rating to this IPO.  

Data Patterns caters to the entire spectrum of defence and aerospace platforms –space, air, land and sea and has end-to-end capabilities to build and deliver complete systems, with their design and manufacturing capabilities being completely in-house.