NIIs help Pace Digitek IPO sail through on final day; GMP holds at 2%

Pace Digitek IPO Day 3 Update: Check price band, lot size, latest subscription status, GMP, allotment date, listing date, other key details here

Pace Digitek IPO Subscription Status: Telecom infrastructure solution provider Pace Digitek has received a lacklustre response from investors for its initial public offering (IPO) so far. However, the issue has finally been fully subscribed, as demand from non-institutional investors (NIIs) saw an uptick on the final day of subscription, September 30.

 

The company has received bids for 2,77,55,152 shares against 2,76,06,555 shares on offer for its maiden public offering as of 1:25 PM on Tuesday, September 30. Among the investor categories, NIIs have oversubscribed their portion by 2.11 times, while demand among qualified institutional buyers (QIBs) and retail investors remained muted, as they are yet to fully subscribe to their respective categories.

 

Pace Digitek IPO Grey market premium (GMP) today

Investor enthusiasm was lacklustre in the grey market as well. Sources tracking grey market activity revealed that unlisted shares of Pace Digitek were exchanging hands at around ₹224 per share, indicating a grey market premium (GMP) of ₹5 per share, or approximately 2.28 per cent over the upper end of the issue price, which is ₹219 per share. 

 

Pace Digitek IPO details

The maiden share sale by Pace Digitek comprises an entirely fresh issue of 37.4 million equity shares, worth ₹819.15 crore. The public issue does not include any Offer for Sale (OFS) component.

 

The IPO is being offered at a price band of ₹208–₹219 per share, with a lot size of 68 shares. Investors are required to apply for a minimum of 1,200 shares, and in multiples of 600 shares thereafter, with a minimum investment of ₹2,31,600.

 

As the public issue closed for subscription today, the basis of allotment of Pace Digitek IPO shares is likely to be finalised on Wednesday, October 1. Successful investors will receive the company’s shares in their demat accounts on Friday, October 3.

 

Shares of Pace Digitek are tentatively scheduled to list on the NSE and BSE platforms on Monday, October 6, 2025.

 

For the public issue, Unistone Capital is serving as the sole book-running lead manager, while MUFG Intime India is acting as the registrar. 

 

Pace Digitek plans to utilize the proceeds from the IPO to fund capital expenditure for investment in its subsidiary, Pace Renewable Energies Private Limited, for setting up Battery Energy Storage Systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The company will also use the IPO proceeds for general corporate purposes.

About Pace Digitek

Pace Digitek is a telecom infrastructure solution provider with a focus on the telecom sector, including telecom towers and optical fibre cables. The company undertakes manufacturing, installation, and commissioning services at project sites, and also handles operation and maintenance, including tower erection and optical fiber cable laying, offering turnkey solutions. 

 

The company generates revenue from three key verticals: Telecommunications, Energy, and Information & Communication Technology (ICT). Pace Digitek has established an operational presence in several Indian states, including Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Jammu & Kashmir, Uttarakhand, Assam, Manipur, Arunachal Pradesh, Mizoram, Nagaland, and Sikkim, among others. It also operates internationally in Myanmar and Africa.