Electronics solutions provider for defence and aerospace sector, Data Patterns’ shares will list on the bourses tomorrow on Friday, December 24. The shares will list both on the national stock exchange (NSE) and Bombay stock exchange (BSE).
The company’s initial public offer (IPO) had received good response from investors as it was subscribed 119.62 times.
According to market watchers, the grey market premium (GMP) of the company on Thursday was Rs 230, thus indicating a sound listing for Data Patterns shares.
The company intended to raise Rs 588 crore and got an offer for Rs 49,665 crore through the IPO with a price band of Rs 555 to Rs 585 per share.
Incorporated in 1985, Data Patterns is an integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea.
It caters to high profile clients like the defence ministry, BrahMos, Defence Research and Development Organisation (DRDO) and other government bodies like Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL) among others.