Pace Digitek IPO to open on September 26: Check price band, issue size, key dates and more

Pace Digitek IPO: Telecom infrastructure solution provider Pace Digitek's ₹819.15 crore initial public offering will hit Dalal Street on Friday, September 26. The issue will conclude on September 30. The company has announced a price band of ₹208 to ₹219 per share.

The initial share sale is exclusively a fresh issuance of equity shares without an offer for sale (OFS) component.

Of the fresh issue proceeds, ₹630 crore will be used for capital expenditure requirements for investment in the subsidiary, Pace Renewable Energies Pvt Ltd, for setting up battery energy storage systems for a project awarded by Maharashtra State Electricity Distribution Company Ltd (MSEDCL), and the remainder of the funds for general corporate purposes.

Pace Digitek IPO: Lot size

A lot consists of 68 shares and in multiples thereafter.

Pace Digitek IPO timeline: Allotment and listing dates

Unistone Capital Pvt Ltd is the issue's book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar.

About Pace Digitek

Pace Digitek is a telecom infrastructure solution provider with a focus on the telecom infrastructure industry, including telecom towers and optical fibre cables. It undertakes manufacturing, installation and commissioning services of products at the site and undertakes operation and maintenance of the site, including optical fibre cable laying and tower erection, as a turnkey solution. It generates revenue from operations from three verticals, i.e., telecommunications, information and communication technology (ICT), and energy.

It has established operational presence in Maharashtra, Karnataka, Gujarat, Andhra Pradesh, Uttarakhand, Jammu and Kashmir, Assam, Manipur, Arunachal Pradesh, Nagaland, Sikkim, and Mizoram, among others, along with operations in Africa and Myanmar.