Data Patterns shares make stellar debut; list at 48% premium to Rs 864

The shares of Data Patterns made a stellar debut on the bourses on Friday, December 24. Data Patterns shares were listed at Rs 864 per share on the BSE on Friday. This was a jump of Rs 279 per share or 47.69 % on its issue price of Rs 585. On the NSE, the shares debuted at Rs 856.05, a gain of 271.05 or 46.33% on Friday.  

At 9.40 am, shares of Data Patterns were trading with a 38 per cent gain at Rs 805 per share on the BSE, the pre-open indicative price stood at 63,615 shares.  

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Data Patterns, which was subscribed a whopping 119.62 times on the final day, was listed in line with the expectation of the street.  

"Expected to list in 850-900 range against issue price of Rs 585," he said.  "Short-term investors keep a stop loss of Rs 775 and hold," Zee Business Manging Editor Anil Singhvi had said before listing on Friday.  

Earlier, Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd on Thursday had said that based on the current GMP, we can expect a 35% listing gain for this public offer.

Data Patterns IPO comprised 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 had fixed a price band of Rs 555-585 per share for its three-day IPO.  

The company aims to use the proceeds from the fresh issue for repayment of the debt, funding its working capital and upgradation and expansion of its existing facilities besides general corporate purposes.