Pace Digitek Powers Up IPO Momentum with Rs 245 Crore Anchor Investment

Bengaluru-based telecom infrastructure firm Pace Digitek has made a strong pre-IPO statement by securing Rs 245.14 crore from anchor investors, just ahead of its Rs 819.15 crore public offering. This strategic move signals robust institutional confidence in the company’s growth trajectory and energy ambitions.

 

Key Investment Highlights

 

The company allocated 11,193,807 equity shares at Rs 219 per share to anchor investors on September 25

 

Notable participants include Bandhan Small Cap Fund, Taurus Mid Cap Fund, SBI General Insurance, Societe Generale–ODI, Nexus Global Opportunities Fund, and Saint Capital Fund

 

Two domestic mutual funds received 1,826,616 shares across three schemes

 

IPO Details and Fund Utilization

 

The IPO opens for public subscription from September 26 to September 30

 

Price band is set between Rs 208 and Rs 219 per share, with a lot size of 68 shares

 

Retail investors require a minimum investment of Rs 14,892

 

Entirely a fresh issue of 3.74 crore shares, with no offer-for-sale component

 

Strategic Objectives and Business Scope

 

Rs 630 crore from the IPO proceeds will fund battery energy storage systems (BESS) for a Maharashtra State Electricity Distribution Company project via Pace Renewable Energies

 

Remaining funds will support general corporate purposes

 

Pace Digitek operates across telecom, energy, and ICT verticals, with a Rs 7,633.6 crore order book, 98 percent from public sector clients

 

Sources: Mint, Rediff Money, Moneycontrol