Data Patterns – Another good IPO opportunity

Data Patterns IPO

Data patterns is  a defense and aerospace electronics solutions provider company . (Source https://www.datapatternsindia.com/)  According to experts, it caters to indigenously developed defense products industry. It is known for innovation focused business model and very diversified high-end technological advanced products portfolio. 

The company aims to raise ₹588.22 crore from its book built issue ( ₹240 crore from fresh issue and ₹348.22 crore through Offer for Sale – OFS)

Data Patterns IPO price band is fixed at ₹555 to ₹585 per equity share

The IPO is opening for subscription from today (14th Dec.) and will remain open for bidding till 16th December 2021.

One can apply for minimum one lot and maximum 13 lots. This translates to a minimum investment for the IPO at ₹14,625 ( ₹585 x 25) whereas maximum investment allowed is ₹1,90,125 [( ₹585 x 25) x 13]. The tentative date for announcement of share allocation is 21st December 2021. Initiation of refunds is expected to begin on 22nd December 2021 while credit of shares in the Demat Account of allottees is likely on 23rd December 2021.

What does GMP indicate

We have already seen how GMP is a good indicator of the listing price. In case of Data Patterns, the GMP on day 1 of the IPO offer is said to be ₹610 . This means that the grey market is expecting shares of Data Patterns to list at a price of around ₹1195 ( ₹585 + ₹610). That’s a cool profit that one can make by investing in this IPO going by the GMP indications.

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