Pace Digitek IPO: Stock Lists At 3% Premium On NSE, Misses Grey Market Expectations
The shares of Bengaluru-based Pace Digitek were listed at Rs 225 per share on the NSE, marking a 2.74 per cent premium over the issue price of Rs 219.
Pace Digitek Ltd made a quiet yet positive debut on the stock exchanges on October 6, listing at a slight premium over its issue price.
Despite expectations of stronger gains in the grey market, the company’s shares opened just above the upper end of the IPO price band, reflecting a measured investor response.
The shares of Bengaluru-based Pace Digitek were listed at Rs 225 per share on the NSE, marking a 2.74 per cent premium over the issue price of Rs 219, reported Moneycontrol.
On the BSE, the stock debuted marginally higher at Rs 226.85, a gain of 3.58 per cent. The listing took the company’s market capitalisation to Rs 4,896.59 crore, underscoring a stable start to its public journey.
Pace Digitek’s IPO, which ran from September 26 to 30, saw a subscription of 1.59 times, indicating moderate investor interest. The grey market had hinted at a stronger listing with expected gains of around 5 per cent, but the actual performance remained slightly below those projections.
Strong Fundamentals, Modest Start
The company had earlier raised Rs 245 crore from anchor investors, signalling confidence from institutional players ahead of the listing. In total, the Rs 630 crore IPO aimed to support capital expenditure and general corporate purposes, strengthening its growth trajectory.
Founded in 2007, Pace Digitek has built a reputation as a multi-disciplinary solutions provider, focusing on the telecom passive infrastructure sector. Its operations cover a wide range of services, including telecom tower infrastructure and optical fibre cable solutions, catering to some of the biggest names in the telecom industry.
Analysts suggest that while the initial listing was subdued, Pace Digitek’s long-term prospects remain strong given its exposure to the expanding telecom infrastructure market. With India’s push towards 5G rollout and digital connectivity, companies like Pace Digitek stand to benefit from higher demand for telecom infrastructure and related services.
Market watchers will now be observing how the stock performs in the coming sessions as investors weigh the company’s growth plans and sectoral potential. The muted listing, despite healthy fundamentals, highlights a cautious market sentiment but also leaves room for steady appreciation as the company begins its journey on the bourses.
[Disclaimer: Investing in the stock market involves financial risks. Please invest responsibly and only after thorough research and careful consideration. Reader discretion is advised.]
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