8x subscription for Data Patterns on its final day of Public Issue

The Initial Public Offering

The Initial Public Offering (IPO) of Data Patterns was subscribed 8 times on the final day. The IPO was open for subscription on December 14. The initial offering of Data Patterns attracted investors till the last day of bidding. There was bidding for 5.67 crore equity shares against the total IPO equity share size of 70.97 lakh.

The company raised ₹588 crores through their initial public issue, which opened for subscription on December 14. Data Patterns set the price band of ₹555-₹585 per equity share for the offer.

The initial offering for the defence and aerospace solution turned out to be good as retail investors showed strong support from day one. The initial offering was subscribed 12.96 times than the allotted quota. Apart from that institutional buys subscribed 92 per cent of the reserved portion and the non-institutional investors bid for the offering 5.38 times the allotted portion.