Pace Digitek is scheduled to finalize the basis of allotment of its shares on Wednesday, October 01. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Wednesday or latest by Friday, October 03, considering a holiday on October 02. The multi-disciplinary solutions provided saw a weak response from the investors
The IPO of Pace Digitek was open for subscription between September 26 and September 30. It had offered its shares in the price band of Rs 208-219 per share with a lot size of 68 shares. The company raised a total of Rs 819.15 crore from its IPO, which was entirely a fresh share sale of 3,74,04,018 equity shares.
The issue was overall subscribed only 1.59 times, fetching nearly 1.85 lakh applications, attracting bids just over Rs 965 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 1.60 times. The allocation for non-institutional investors (NIIs) was booked 2.90 times. The portions for retail investors and employees were subscribed 1.03 times and 1.73 times, respectively.
The grey market premium (GMP) of Pace Digitek has seen a sharp correction amid jittered market sentiments, dull bidding and series of a flop listing lately. Last heard, the company was commanding a premium of Re 1 per share only in the unofficial market, suggesting a flat listing for the investors. The GMP stood around Rs 18, during the bidding phase.
Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider with a primary focus on the telecom infra industry. Pace Digitek, through its subsidiary Lineage Power, offers key products to support telecom tower infrastructure. These include Power Management Solutions such as Switch-mode Power Supply and Hybrid DC Power Systems, as well as solar solutions.
Unistone Capital is the sole book running lead manager and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Friday, October 03. Shares of the company shall be listed on both BSE and NSE on October 06, Monday.
Investors, who had bid for the issue of Pace Digitek, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Pace Digitek Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit search button
Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of MUFG Intime India Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.