Chennai: Data Patterns (India) Limited, vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Tuesday, December 14, 2021. The Bid/Offer Period will close on Thursday, December 16, 2021. The Price Band for the Offer has been fixed at ₹ 555 – ₹ 585 per Equity Share.
The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by Selling Shareholders. The OFS includes sale of up to 19,67,013 equity shares by Srnivasagopalan Rangarajan, up to 19,67,012 equity shares by Rekha Murthy Rangarajan, up to 75,000 equity shares by Sudhir Nathan, up to 4,14,775 equity shares by G.K. Vasundhara and up to 15,28,750 equity shares by existing shareholders.
Florintree backed defence and aerospace electronics company has undertaken a pre-IPO placement of 10,39,861 equity shares aggregating for up to Rs 60 crore. The company intends to utilise net proceeds from the fresh issue to the extent of Rs 60.80 crore for prepayment / repayment of certain outstanding borrowings availed by the Company, Rs 95.19 crore for funding its working capital requirements, Rs 59.84 crore for upgrading and expansion of its existing facilities at Chennai and general corporate purposes.
Data Patterns has a net profitability growth of approximately 164% between Fiscal 2020 and Fiscal 2021 and is one of the fastest-growing companies in the Defence and Aerospace Electronics sector in India. Its core competencies include electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, manufacturing, functional testing and validation, environment testing and verification, and after sales support engineering services.
The Company, in consultation with BRLM’s to the Offer, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, December 13, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the red herring prospectus dated December 03, 2021 (“RHP”) filed with the Registrar of Companies, Tamil Nadu at Chennai (“RoC”).
Disclaimers: DATA PATTERNS (INDIA) LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited and IIFL Securities Limited at www.jmfl.com and www.iiflcap.com, respectively, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see “Risk Factors” on page 34 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for any investment decision.
[The Equity Shares have not been and will not be registered under the U. S. Securities Act of 1933 (the “U. S. Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U. S. Securities Act and applicable U. S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.]
DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents or the offer document. The investors are advised to refer to page 342 of the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 344 of the RHP for the full text of the disclaimer clause of the BSE Limited.
DISCLAIMER CLAUSE OF NSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 344 of the RHP for the full text of the disclaimer clause of NSE.
For further details in relation to the Company, BRLM’s, Compliance Officer of the Company, availability of application forms and RHP, please refer to statutory advertisement dated December 9, 2021.