Pace Digitek Mobilizes Rs 245 Crore Ahead of IPO Launch

Telecom infrastructure company Pace Digitek Ltd raised over Rs 245 crore from anchor investors before its IPO. The IPO, a fresh issue estimated at Rs 819.15 crore, will allocate proceeds for capital expenditure and corporate purposes. Revenue reached Rs 2,439 crore in FY25, with a Rs 279 crore net profit.

Telecom infrastructure giant Pace Digitek Ltd has successfully mobilized more than Rs 245 crore through anchor investors, one day prior to its initial public offering (IPO) opening for public subscription. The prominent institutions involved include Bandhan Mutual Fund, SBI General Insurance Company, and Societe Generale, among others.

The company has distributed 1,11,93,807 equity shares to these anchor investors at Rs 219 each, totaling a transaction size of Rs 245.14 crore. The IPO, priced between Rs 208 to Rs 219 per share, is slated for September 26-30.

Bengaluru-headquartered, the IPO consists of a fresh issue valued at Rs 819.15 crore. A significant portion of the Rs 630 crore proceeds will cater to capital expenditure, with some funds directed towards general corporate purposes. Unistone Capital is managing the issue's book-running process.

(With inputs from agencies.)