Data Patterns’ stock makes an electrifying debut, closes

 Data Patterns’ stock makes an electrifying debut, closes 29% premium to the issue price

Data Patterns (India) Limited (the “Company”), a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry, listed on the NSE at Rs 856.05 at 46.33% premium over its issue price. The scrip got listed at BSE at Rs 864 per share, a 47.69% per cent premium over its issue price of Rs 585. The shares of the company at day end closed at Rs. 754.85 per share on BSE and at Rs 750.50 per share on NSE. The initial public offering was offered at a lower price band of Rs 555 per share and higher price band of Rs 585 per equity share.

As per BSE, the total quantity traded stood at 10.44 lakh shares with a delivery quantity percentage of 43.95%. Total Quantity traded at NSE stood at 134.92 lakh shares with a delivery quantity percentage of 33.60%. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1167.92 crore.

Mr. Srinivasagopalan Rangarajan, Chairman and Managing Director, Data Patterns (India) Limited said "Today marks an important milestone for Data Patterns, sincere gratitude to all stakeholders and investors who have bestowed their faith in us. This is beginning of journey for us and we are committed to long term shareholder value accretion in long run through consistent performance growth. We appreciate the responsibility given to us and will work harder to deliver returns to all our shareholders".

The Market Capitalization of the Company post today’s closing price stood at Rs. 3916.66 crore as per BSE and Rs. 3894.09 crore as per NSE.

The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by the promoter and individual selling shareholders and the issue was closed on 16th December 2021. The portion reserved for retail investors was subscribed 23.14 times. While the Qualified Institutional Buyer category was subscribed 190.86 times, the Non-Institutional Investor category was subscribed 254.22 times. Overall the issue was subscribed 119.62 times.

JM Financial Limited, IIFL Securities Limited were the book running lead managers to the issue.

Company Information

Data Patterns core competencies include design and development across electronic hardware, software, firmware, mechanical, product prototype besides its testing, validation and verification. Its involvement has been across Radars, Underwater Electronics/Communication and Other Systems, Electronic Warfare Suites, Avionics, Small Satellites, Automated Test Equipment, COTS and programmes catering to Tejas Light Combat Aircraft, Light Utility Helicopter, BrahMos and other Communication and Electronic Intelligence Systems.

The company works closely with the defence PSUs such as Hindustan Aeronautics Ltd and Bharat Electronics Ltd as well as government organisations involved in defence and space research like DRDO.

The company's order book has grown at a CAGR (compound annual growth rate) of 40.72 per cent over the last four years and as of Sep 2021 stood at Rs 581.3 crore.

For FY21, the company's revenue from operations was at Rs 226.55 crore against Rs 160.19 crore in the preceding fiscal year. Its net profit for the period stood at Rs 55.57 crore as compared to Rs 21.05 crore in 2019-20.

MTAR Technologies Ltd. Public Offering of Equity Shares

 MTAR Technologies Ltd. Public Offering of Equity Shares
opening on March 3, 2021

 ·         Price Band of Rs. 574 – Rs. 575 per equity share of face value of Rs. 10 each (“Equity Share”)

·         Bid/Offer Opening Date – Wednesday, March 3, 2021 and Bid/Offer Closing Date – Friday, March 5, 2021

·         Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter

·         The Floor Price is 57.40 times the Face Value of the Equity Shares and the Cap Price is 57.50  times the Face Value of the Equity Shares.

MTAR Technologies, a Hyderabad based precision engineering solutions company engaged in the manufacturing and development of mission critical precision components and critical assemblies catering to clean energy, nuclear and space and defense sectors, will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the “Offer”/ “IPO”) on Wednesday, March 3, 2021 and close on Friday, March 5, 2021. The price band for the Offer has been decided at Rs. 574 – Rs. 575 per Equity Share. The Company and the Selling Shareholders may, in consultation with the book running lead managers (the “BRLMs”), consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Tuesday, March 2, 2021. MTAR has, in consultation with the Book Running Lead Managers, undertaken a Pre-IPO Placement of 1,851,851 Equity Shares, aggregating to Rs. 100 Cr with Axis and SBI mutual funds. 

The IPO is a fresh issuance of upto 21,48,149 equity shares, of Rs 10 face value, aggregating up to 124 Cr and an Offer for sale of up to 8,224,270 equity shares aggregating up to Rs 473 cr, of face value of Rs 10 each, by Selling Shareholders. The Company proposes to utilise the Net Proceeds from the Fresh Issue towards repayments of borrowings by the Company, funding working capital requirements and for general corporate purposes.

The Company’s key strength lies in its engineering capabilities which has enabled it to consistently offer quality complex precision manufactured assemblies and components to its customers in highly-valued strategic and key sectors like clean energy, nuclear, and space and defense segments. MTAR Technologies’ key portfolio comprises of three kinds of products in the clean energy sector, 14 kinds of products in the nuclear sector and six kinds of products in the space and defence sectors. Delivery of complex products with stringent quality requirements within stipulated timelines in majority of cases has earned MTAR a long-standing relationship with its customers such as Nuclear Power Corporation of India Limited (“NPCIL”), the Indian Space Research Organisation (“ISRO”), the Defence Research and Development Organisation (“DRDO”), and Bloom Energy (USA).

JM Financial and IIFL Securities are appointed as the BRLMs to the Issue.

The Offer is being made through the Book Building Process and in compliance with Regulation 6(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”). Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received from them at or above the Offer Price.