Pace Digitek Files Draft Papers for ₹900 Crore IPO with SEBI

Bengaluru-based Pace Digitek, a key player in the telecom passive infrastructure sector, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹900 crore. The company aims to strengthen its financial position and expand its operations through the public offering.

IPO Details and Allocation

The IPO consists of a fresh issue of equity shares with a face value of ₹2, aggregating up to ₹900 crore. Pace Digitek may opt for a pre-IPO placement of up to ₹180 crore, which, if executed, will reduce the fresh issue size accordingly. The price band and minimum bid lot will be finalised in consultation with the book-running lead manager.

The issue allocation will be divided into three categories: 50 % for qualified institutional buyers (QIBs), 15 % for non-institutional investors (NIIs), and 35 % for retail investors. The shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). MUFG Intime India is the registrar for the issue, while Unistone Capital serves as the sole book-running lead manager.

Utilisation of Funds and Company Overview

Pace Digitek plans to use ₹630 crore from the net proceeds to fund capital expenditure requirements for its subsidiary, Pace Renewable Energies. The investment will primarily support the development of battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company. The remaining funds will be allocated for general corporate purposes.

About Company

Established in March 2007, Pace Digitek has grown into a multidisciplinary solutions provider in the telecom passive infrastructure sector. The company initially focused on manufacturing passive electrical equipment but has since expanded its operations to include turnkey solutions, project execution, operations and maintenance (O&M), and other services. With a pan-India presence and international operations in Myanmar and Africa, Pace Digitek continues to strengthen its market position.

Conclusion

With its proposed IPO, Pace Digitek aims to secure funding for expansion and infrastructure development. By leveraging its expertise in telecom passive infrastructure and renewable energy solutions, the company seeks to enhance its market presence both in India and internationally.

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