Data Patterns IPO Subscribed 3.3 Times On Day 1

Data Patterns (India) Ltd., a defence and aerospace electronics solutions provider, saw its initial public offering fully subscribe within an hour of opening, led by retail demand.

The IPO comprises a fresh issue of Rs 240 crore and an offer for sale of 59.52 lakh shares by promoters and shareholders worth Rs 348.2 crore, according to the company’s red herring prospectus. The company is selling shares at Rs 555-585 apiece, pegging the market at Rs 3,035.4 crore at the upper end.

Prior to the IPO, Data Patterns has raised Rs 176 crore from anchor investors by allotting 30.2 lakh shares at Rs 585 apiece.

The issue will close on Dec. 16.

Subscription Details: Day 1

The IPO was subscribed 3.30 times as of 5 p.m. on Dec. 14.

• Institutional investors: 0 times.

• Non-institutional investors: 1.46 times.

• Retail investors: 5.89 times.