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Latest GMP as all eyes on the listing of the stocks

The initial public offering (IPO) of Data Patterns (India) Limited, which supplies electronic systems for the defense and aerospace sectors, closed with 119.62 subscriptions, which closed on December 16. The public offering on the last day of subscription received bids for 84, – 89.85.725 shares compared to 70.97.285 shares in the offer.

With the stock allotment complete, all eyes are on the listing date as the stock is expected to debut on the leading BSE and NSE stock exchanges this week on Friday, December 24, 2021. Data Patterns Stock Bonus (GMP) on the gray market is dipped on today 160.

The public offering includes a re-issue of shares worth 240 crore and an offer for sale (OFS) of 59.52 lakh stock shares from promoters and individual selling shareholders. The company has a price range of. set 555-585 one share for its three-day first stock sale, which opened on December 14th. Data Patterns had collected 176 crore from anchor investors prior to issue.

The proceeds from the new issue will be used to pay down debt, finance working c -ital, and modernize and expand its existing facilities in addition to general corporate purposes. Former Blackstone boss Matthew Cyriac is behind Data Patterns through Florintree C -ital Partners LLP, which holds 12.8 percent of the shares in the company.

Founded by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defense and aerospace electronics solutions provider serving space, air, land and sea needs.

Data Patterns works closely with defense network operators such as Hindustan Aeronautics Ltd and Bharat Electronics Ltd, as well as government organizations involved in defense and space research such as DRDO. together

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