Data Patterns India raises Rs 176 crore from anchor investors ahead of IPO

Dear Sir/Madam,

 

Enclosed and appended are the anchor details of Data Patterns (India) Limited for your perusal.

 

Please Note: This note is prepared for your easy reference only and not an official company statement or release.

 

 

 

Chennai-based Data Patterns (India) Limited, a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry, has garnered Rs 176 crore from anchor investors ahead of its initial share sale that opens for public subscription on Tuesday. The company informed the bourses that it has allocated 3,016,533 shares at Rs. 585 per share on Monday, December, 13th, 2021 to the anchor investors.

The anchor book has seen a strong participation from domestic mutual funds (HDFC MF, ICICI Pru MF, Axis MF, Kotak MF, Birla MF, Nippon MF, FT MF, Tata MF, PGIM MF and IIFL MF), life insurance companies (HDFC Life and Tata AIA Life) and other institutional investors (Nomura Funds, White Oak Capital and Enam)

Axis Mutual Fund and White Oak Capital picked up the largest allocation of 11.4% each for approximately Rs 20 crs, across their various schemes. Axis MF and White Oak Capital had also invested Rs 35 crs and Rs 10 crs respectively in a Pre-IPO placement concluded last month by the company. The other investor in the Pre-IPO round was IIFL with Rs 15 crs investment – IIFL MF has been allocated 6.8% of the anchor book amounting to Rs 12 crs.

 

Nomura Funds, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sunlife Mutual Fund, Kotak Mahindra Mutual Fund, Nippon Life India Mutual Fund and PGIM India Mutual Fund – each of these institutions were allocated 205,650 shares for approximately Rs 12 crs each across their various schemes. Other institutions viz. Tata Mutual Fund, Franklin Templeton Mutual Fund, HDFC Life, Tata AIA Life and Enam has been allotted 170,950 shares for approximately Rs 8 crs each

Data Patterns core competencies include design and development across electronic hardware, software, firmware, mechanical, product prototype besides its testing, validation and verification. Its involvement has been across Radars, Underwater Electronics/Communication and Other Systems, Electronic Warfare Suites, Avionics, Small Satellites, Automated Test Equipment, COTS and programmes catering to Tejas Light Combat Aircraft, Light Utility Helicopter, BrahMos and other Communication and Electronic Intelligence Systems.

The company works closely with the defence PSUs such as Hindustan Aeronautics Ltd and Bharat Electronics Ltd as well as government organisations involved in defence and space research like DRDO.

 

The company’s order book has grown at a CAGR (compound annual growth rate) of 40.72 per cent over the last four years and as of Sep 2021 stood at Rs 581.3 crore.

 

For FY21, the company’s revenue from operations was at Rs 226.55 crore against Rs 160.19 crore in the preceding fiscal year. Its net profit for the period stood at Rs 55.57 crore as compared to Rs 21.05 crore in 2019-20.

 

JM Financial Ltd and IIFL Securities Ltd are the book running lead managers to the issue.

 

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