Pace Digitek IPO Subscribed 55% on Day 2

New Delhi, Sep 29 (PTI) The initial share sale of telecom infrastructure solutions provider Pace Digitek received 55 per cent subscription on the second day of offering on Monday.

The IPO received bids for 1,50,49,352 shares against 2,76,06,555 shares on offer, according to NSE data.

The category for non-institutional investors was subscribed 78 per cent, and retail individual investors (RIIs) received 62 per cent subscription. Qualified institutional buyers (QIBs) quota fetched 23 per cent subscription.

Pace Digitek Ltd on Thursday said it has mobilised over Rs 245 crore from anchor investors.

The issue, with a price band of Rs 208-219 per share, will conclude on Tuesday.

The Bengaluru-based company's IPO is a completely fresh issue of shares worth Rs 819.15 crore.

Proceeds from the public issue, amounting to Rs 630 crore, will be used to fund capital expenditure requirements, and a portion will be allocated towards general corporate purposes.

Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider, specialising in the telecom passive infrastructure industry, including telecom tower infrastructure and optical fibre cables.

Unistone Capital is the sole book-running lead manager of the issue.