Communication eqpt maker HFCL raises Rs 600 cr fresh funds via QIP route

Medplus Health IPO subscribed 1.5x on penultimate day; Data Patterns subscribed 3.3x on opening

Communication equipment maker HFCL has successfully closed a Rs 600 crore fresh fund raise via the qualified institutional placement (QIP) route. The proceeds will be used for setting up of new manufacturing facilities and product development. Reliance Ventures, Quant Mutual Fund, IIFL Wealth, Elara India, Discovery, Segantii, Millennium are among the investors who subscribed to the QIP, which was priced at Rs 68.75 per share. Shares of HFCL last closed at Rs 80.45 on the BSE.

Medplus Health IPO subscribed 1.5x

The IPO of pharmacy chain Medplus Health Services was subscribed 1.5 times on Tuesday, a day ahead of its close. The retail portion of the IPO was subscribed 2.7 times, while the wealthy investor and institutional portion subscribed 51 per cent and 9 per cent. The price band for Medplus’ Rs 1,398-crore IPO is Rs 780-796 per share. The Warburg Pincus-backed company is planning to raise Rs 600 crore by issuing fresh equity shares. The remaining Rs 798 crore is an offer for sale (OFS) by Premji Invest’s PI Opportunities Fund, Natco Pharma and others. In FY21, the company had reported revenues from operations of Rs 3,048 crore and net profit of Rs 62.7 crore.

Data Patterns subscribed 3.3x on day 1

The IPO of Data Pattern India was subscribed 3.3 times on Tuesday, the first day of the issue. The company is a vertically integrated defense and aerospace electronics solutions provider. On Monday, the company allotted Rs 176 crore worth of shares to anchor investors at the upper price band of Rs 585 per share. The price band for the IPO is Rs 555-Rs 585 per share. At the top-end, the company will be valued at Rs 3,035 crore.