Data Patterns IPO Subscription Status Day 3: Offer booked 119.62 times; NII portion booked most by over 254 times

Data Patterns IPO has been on a roll since Day 1 as the public offer has been receiving tremendous response from investors. The initial public offer was subscribed 119.62 times so far on the final day. Against 70,97,285 reserved shares, the issue saw bidding for 84,89,85,725 shares at 05:00 pm.  

The retail investors continue to lead the subscription even on the third day as the category reserved for the Retail Individual Investors (RIIs) was subscribed 23.14 times. The Non-Institutional Investors (NIIs) portion was filled most by 254.22 times, while the QIBs portion was subscribed second most 190.86 times around the same time. 

Earlier at the end of the Day 2, Data Patterns IPO was subscribed 7.68 times. On the second day, the IPO received bids for 5,44,91,050 shares against the reserved quota of 70,97,285 shares.  

See Zee Business Live TV Streaming Below:

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 with long-term time horizon.  

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

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. 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.