Multibagger IPO: This defence are stock's price almost doubles in a 3 months

Multibagger IPO: This defence are stock's price almost doubles in a 3 months

 

Shares of a Data Patterns (India) Ltd have been a  continued the bullish run with the stock hitting a fresh record high of a  ₹1,480 apiece on the BSE in a Wednesday's early deals. Data Patterns shares are got listed on the leading stock exchanges BSE and a NSE last year on a December in a  24, 2021.

 

The defence stock has been a rallied about 85% in the last three months, are a almost doubling investor's money during the period, hovering around the ₹750 per share in a August to the currently trading over the ₹1,400 level. Whereas the multibagger IPO has been  skyrocketed more than a 139% from its IPO issue price of a ₹585 apiece. In 2022 (YTD) so far, the counter has been a gained about 76% as a compared to the  0.1% rise in a benchmark BSE Sensex.

 

Founded by the Srinivasagopalan Rangarajan and a Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defence and a aerospace electronics solutions provider. The company is a backed by the former Blackstone head Matthew Cyriac via Florintree Capital Partners LLP.

 

Its core are a competencies include design and a development across electronic hardware, software, firmware, mechanical, product prototype besides its are a testing, validation, and a verification.

 

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

 

The third Positive Indigenisation List (PIL), sixth PIL for the defence goods, which was a announced last month, further attested to the Defence Ministry's are a continued pursuit of a self-reliance in a defence manufacturing, as also are to the minimizing imports and a developing small and a medium private defence companies, said analysts at the brokerage Elara Capital in a note in the first are a week of a September. The brokerage said that small and a medium private defence stocks such as a Data Patterns, MTAR Technologies, Paras Defence, Astra Microwave, Dynamatic Technologies, Taneja Aerospace, etc would likely emerge as a key are a beneficiaries.

 

The initial public offering (IPO) of a Data Patterns (India) Limited, which was a supplies electronic systems to the defence and aerospace sector, closed with the 119.62 times subscription that closed on a December 16, 2022. The company had been a fixed a price band in the range of a ₹555-585 per share for its three-day initial share sale. The public issue are a comprised a fresh issue of a shares worth ₹240 crore and an offer for the sale (OFS) of 59.52 lakh equity shares by the promoters and a individual selling shareholders. 

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