Pace Digitek IPO Day 3
The issue is still open for retail and institutional investors. Subscription numbers are only mild. By Day 2, total subscription was 55 percent. Retail buyers took up about 62 percent of their slice. Non-institutional investors reached 78 percent for their share. Qualified institutional buyers lagged behind, under 25 percent filled. The IPO is set to close by the evening.
The price band stands at ₹208 to ₹219 per share. One retail lot means 68 shares. That’s about ₹14,892 per lot. The company is raising ₹819 crore fresh money. No offer-for-sale part. All proceeds go straight to company use. Most funds aimed at telecom and energy projects. The listing is planned for October 6.
Grey market premium is fluctuating. Today, GMP is around ₹17 per share. That’s close to 7 percent upside versus issue price. GMP went as high as ₹33 earlier but cooled off fast. It suggests market sentiment is cautious. The expected listing price could fall in the ₹230 range. But GMP is unofficial and just a market guess.
Anchor investors have already committed ₹245 crore. Large names like Societe Generale and Bandhan MF are part of it. That gave early stability.
Overall, demand is not huge. Most interest is from non-institutional and anchor investors. Retail participation is steady but not aggressive. Day 3 is the last chance for bids.
Final thoughts. IPO offers exposure to telecom infra and energy storage. Subscription is not oversubscribed. GMP hints at a small listing gain. Keep in mind, GMP is not formal. Make decisions on business fundamentals.
Pace Digitek’s allotment is expected on October 1. Refunds go back on October 3. Shares will hit NSE and BSE on October 6.
