Pace Digitek, one of the key players in the telecom passive infrastructure space, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to INR 900 crore through an initial public offering (IPO). Unistone Capital is acting as the bookrunning lead manager for the major financial step.
Key Points:
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IPO Size: The issue will be of a fresh issue of equity shares only, without any offer for sale (OFS).
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Use of Proceeds: Around INR 630 crore will be utilized for capital expenditure, improving the operational capacity and infrastructure of Pace Digitek.
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Company Overview: Established as a passive electrical equipment manufacturer, Pace Digitek has diversified into telecom tower infrastructure, solar power projects, and ICT services.
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Financial Growth: The firm has recorded strong revenue growth from INR 405.70 crore in FY22 to INR 2,434.49 crore in FY24, registering a CAGR of 144.96%.
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Market Position: With presence in India and chosen international markets, Pace Digitek is poised to leverage the anticipated growth in the telecom passive infrastructure market.
Investors are eagerly waiting for more information on the listing date and issue price as Pace Digitek sets out on this growth path.
Sources: IPO Central, unistonecapital.com, Chittorgarh