Data Patterns shares make a strong debut, stock lists at 28% premium

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Data Patterns shares make a strong debut, stock lists at 28% premium The stock of defence and aerospace electronics solutions provider Data Patterns made a strong debut on the bourses on Friday. It got listed at Rs 856, a 46 per cent premium to its issue price but gave up some gains and ended the session at Rs 750 — 28.2 per cent premium to its issue price. After listing, the company commands a market capitalisation of Rs 3,894 crore. Data Patterns' initial public offering was subscribed 120 times. Ahead of its public issue, the company raised Rs 176 crore from anchor investors. The company is also planning to acquire 2.81 acre for further expansion. As of July 31, 2021, Data Patterns had 760 employees with more than 450 qualified engineers. The company plans to utilise the proceeds of the issue for repayment of its debts, funding working capital requirements, and upgrading its facilities in Chennai.



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