Pace Digitek's IPO to open on Sep 26; eyes Rs 819-cr

New Delhi, Sep 22 (PTI) Telecom infrastructure solutions provider Pace Digitek Ltd is looking to garner Rs 819 crore through its initial public offering (IPO), which will open for subscription on September 26.

In its statement, the company said it has fixed a price band of Rs 208 to Rs 219 per share for its maiden public offering, which will conclude on September 30.

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.

The company's revenue from operations was Rs 2,439 crore during FY25 as compared to Rs 2,434 crore in FY24. Its net profit stood at Rs 279 crore against Rs 230 crore a year ago.

In terms of issue allocation, 50 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.

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