Bengaluru-based Pace Digitek Limited, a multi-disciplinary solutions provider specializing in telecom passive infrastructure, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 900 crore through an Initial Public Offering (IPO).
The IPO comprises a fresh issue of equity shares with a face value of Rs 2, aggregating up to Rs 900 crore. The company, in consultation with the book-running lead managers (BRLMs), may consider a pre-IPO placement of up to Rs 180 crore through private placement, preferential allotment, rights issue, or other methods. If completed, the fresh issue size will be reduced accordingly.
The company intends to utilize Rs 630 crore from the net proceeds to fund capital expenditure requirements and for general corporate purposes.
The issue will be conducted through a book-building process, with up to 50% of the net offer reserved for qualified institutional buyers, a minimum of 15% allocated to non-institutional investors, and at least 35% reserved for retail individual investors.
