Pace Digitek Ltd Eyes Rs 819 Crore Through Upcoming IPO

Telecom infrastructure solutions provider Pace Digitek Ltd aims to raise Rs 819 crore through an IPO starting September 26. The company has set a price range of Rs 208 to Rs 219 per share. Proceeds will fund capital expenditures and general corporate needs. Unistone Capital leads the issue.

Pace Digitek Ltd, a telecom infrastructure solutions provider, is set to raise Rs 819 crore through an initial public offering (IPO) starting September 26.

The company, based in Bengaluru, announced a price band of Rs 208 to Rs 219 per share for its debut public offering, concluding on September 30.

The IPO is entirely a fresh issue of shares worth Rs 819.15 crore. Funds raised, amounting to Rs 630 crore, will be used for capital expenditure requirements and general corporate purposes. The IPO allocation comprises 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. Unistone Capital is the sole book-running lead manager.