Data Patterns (India) make a strong market debut

Shares of Data Patterns (India) were currently trading at Rs 808, at a premium of 38.12% as compared to the issue price of Rs 585 per share.

The scrip was listed at Rs 864, representing a premium of 47.69% to the issue price. So far, the scrip has hit a high of 864 and a low of 781. Over 4.75 lakh shares of the company had changed hands in the counter till now.

The initial public offer (IPO) of Data Patterns (India) received bids for 84,89,85,725 shares as against 70,97,285 shares on offer. The issue was subscribed 119.62 times.

The issue opened for bidding on 14 December 2021 and it closed on 16 December 2021. The price band of the IPO was fixed at Rs 555-585 per share.

Data Patterns (India) is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry. It offers products catering to the entire spectrum of defence and aerospace platforms such as space, air, land and sea. The major products or product groups of the company comprises of radars, underwater electronics /communications /other systems, electronic warfare suite, BrahMos programme, avionics, small satellites, ATE for defence and aerospace systems and Commercial off the shelf (COTS).

The company reported a net profit of Rs 23.21 crore and sales of Rs 96.45 crore for the six months ended September 2021.

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