Pace Digitek's Strong Market Debut: IPO Garners Enthusiastic Response

Pace Digitek Ltd shares listed with nearly a 4% premium on Monday, trading higher than their issue price. The Bengaluru-based company's IPO, entirely a fresh issue of shares, raised Rs 819.15 crore. Proceeds will fund capital expenditure and corporate purposes, highlighting their specialization in telecom infrastructure solutions.

Shares of Pace Digitek Ltd made a robust debut on the stock market, with the company's stocks listing at a premium of nearly 4% above the issue price of Rs 219.

Trading commenced at Rs 226.85 on BSE and Rs 225 on NSE, reflecting investor enthusiasm. The initial public offering of Pace Digitek Ltd was oversubscribed 1.59 times, indicating strong market interest.

The proceeds from the IPO, valued at Rs 819.15 crore, will address capital expenditure needs and general corporate purposes, capitalizing on their expertise in telecom infrastructure, including towers and optical fibre solutions.

(With inputs from agencies.)