Data Patterns files draft papers with SEBI
Data Patterns (India) has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up Rs 600-700 crore through an initial public offering (IPO).
The company intends to utilize net proceeds from the fresh issue for repayment of debt, funding its working capital and upgradation and expansion of its existing facilities besides general corporate purposes. IIFL Securities and JM Financial are the book running lead managers to the issue.
Data Patterns is a vertically integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea. Its core competencies include design and development across electronic hardware, software, firmware, mechanical, product prototype besides its testing, validation and verification.
