Pace Digitek raises Rs 2.45 billion from anchor investors ahead of IPO

Pace Digitek Limited has secured over Rs 2.45 billion from anchor investors a day before its initial public offering (IPO) opens for subscription.

According to a circular uploaded on the BSE website, participating institutions include Bandhan Mutual Fund (MF), Taurus MF, SBI General Insurance Company, Societe Generale, Saint Capital Fund, Aarth AIF Growth Fund, and Nexus Global Opportunities Fund.

Further, the circular notes that Pace Digitek allotted 11.19 million equity shares to anchor investors at Rs 219 per share, taking the total anchor transaction size to Rs 2.45 billion.

The upcoming IPO consists entirely of a fresh issue aggregating Rs 8.19 billion.

Further, the company plans to deploy Rs 6.3 billion from the proceeds towards capital expenditure, with the balance earmarked for general corporate purposes.