Pace Digitek IPO gets subscribed 1.59 times

New Delhi, Sep 30 (PTI) The initial public offer of telecom infrastructure solutions provider Pace Digitek Ltd garnered 1.59 times subscription on the final day of bidding on Tuesday.

The company's IPO received bids for 4,40,05,316 shares against 2,76,06,555 shares on offer, as per data available with the NSE.

The portion for non-institutional investors got subscribed 2.90 times, the Qualified Institutional Buyers (QIBs) category received 1.60 times subscription, and the quota meant for Retail Individual Investors (RIIs) attracted 1.03 times subscription.

Pace Digitek Ltd on Thursday said it has mobilised over Rs 245 crore from anchor investors.

The issue has a price band of Rs 208-219 per share.

The Bengaluru-based company's IPO is a completely fresh issue of shares worth Rs 819.15 crore.

Proceeds from the public issue, amounting to Rs 630 crore, will be used to fund capital expenditure requirements, and a portion will be allocated towards general corporate purposes.

Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider, specialising in the telecom passive infrastructure industry, including telecom tower infrastructure and optical fibre cables.

Unistone Capital is the sole book-running lead manager of the issue. PTI SUM SHW