Pace Digitek IPO ends with 1.59 times subscription

The offer received bids for 4.40 crore shares as against 2.76 crore shares on offer.

The initial public offer of Pace Digitek received bids for 4,40,05,316 shares as against 2,76,06,555 shares on offer. The issue was subscribed 1.59 times.

The Non-Institutional Investors category was subscribed 2.90 times, the Qualified Institutional Buyers (QIB) category was subscribed 1.60 times and the Retail Individual Investors category was subscribed 1.03 times.

The issue opened for bidding on 26 September 2025 and it closed on 30 September 2025. The price band of the IPO is fixed between Rs 208 and 219 per share.

The IPO consists of a fresh issue of Rs 819.15 crore. Out of the proceeds from the fresh issue, Rs 630 crore will be directed towards capital expenditure for investment in subsidiary Pace Renewable Energies Private Limited to set up battery energy storage systems for a project with Maharashtra State Electricity Distribution Company and the balance towards general corporate purposes.

Pace Digitek (PDL) is a telecom infrastructure solutions provider offering manufacturing, installation, commissioning, and operation & maintenance (O&M) services for telecom towers and optical fibre networks. The company operates across telecommunications, energy, and ICT sectors, with presence in India, Myanmar, and Africa. PDL?s subsidiaries include Lineage Power (power management systems), Pace Renewable Energies (solarization of towers), and others for project execution. It also manufactures lithium-ion batteries and energy storage systems in its Bengaluru facilities.

Ahead of the IPO, Pace Digitek, on 25 September 2025, raised Rs 245.14 crore from anchor investors. The board allotted 1.11 crore shares at Rs 219 each to 16 anchor investors.

The firm reported a consolidated net profit of Rs 267.61 crore and sales of Rs 2,438.78 crore for the twelve months ended on 31st March 2025.

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