There was a brand new listing on the bourses today. Data Patterns made a stellar debut on bourses with a premium of 48%, listing on the BSE at Rs.864 v/s IPO price of Rs.585.
The IPO, which opened for subscription on December 14, was subscribed 119.62 times. QIBs category was subscribed 190.86 times, HNIs by 254.22 times and retail investors by 23.14 times.
In our IPO Analysis, we had recommended investment, saying, “Company’s high growth visibility supported by 20%+ net margins and high entry-barriers in defence sector makes its fundamentals strong. Hence, we recommend subscription to the IPO.”