Data Patterns India Limited (DPIL), which supplies electronic systems for the defense and aviation sectors, on Thursday fixed the price band for its initial public offering (IPO) at Rs 555-585. The IPO will be open from December 14 to 16 and the company plans to list its shares on the exchanges on December 24.
Data Pattern has reduced its new issue size to Rs 240 crore 300 crores earlier was the plan. The size of the offer for sale was also reduced from 6.07 million shares to 5.95 million previously planned. At the upper end of the price band, the company will raise around Rs 588.22 crore. JM Financial and IIFL Securities is the Book Running Lead Manager of the issue.
Separately, HP Adhesives Limited has priced Rs 262-274 for its IPO, which will be open for subscription from December 15 to 17. It plans to list on the exchanges on December 27. The IPO consists of a fresh issue of 4.14 million shares and an offer for sale of 457,000 shares by its promoter Anjana Haresh Motwani. At the upper end of the price band, the total issue size is around Rs 125.96 crore. Its proceeds will be used for capital expenditure for the proposed expansion and to support incremental working capital requirements.
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