InvestorQ : Can you tell me about the Data Patterns IPO filing and when is the IPO expected?
swati Bakhda made post

Can you tell me about the Data Patterns IPO filing and when is the IPO expected?

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Sam Eswaran answered.
2 months ago
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There seems to be a sudden interest in defence support company IPOs, especially after Paras Defence attracted interest from anchor investors. Now, Data Patterns India, a Chennai based supplier of electronic systems for the defence and aerospace industry, has filed its DRHP with SEBI for its proposed IPO. Normally, the approval takes a month and the actual issue could be either end of 2021 or early 2022, as indicated by the company.

The IPO will comprise of Rs.300 crore fresh issue plus an offer for sale or OFS of 60.71 lakh shares by existing promoters. The overall size of the issue is expected to be Rs.600-700 crore. There are plans for a Rs.60 crore pre-IPO placement and the IPO size may be trimmed accordingly. Funds will be used repay debt, expand facilities and for working capital. The company is financially backed and mentored by ex-Blackstone India head, Matthew Cyriac.

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