Pace Digitek raises ₹245 crore from anchor investors ahead of ₹819 crore IPO
Ahead of its IPO on September 26, Pace Digitek secured ₹245.14 crore from anchor investors, allocating over 11 million shares at ₹219. The firm plans to raise ₹819.15 crore to fund battery storage projects and other corporate needs.
Bengaluru-based telecom infrastructure solution provider Pace Digitek has garnered ₹245.14 crore from anchor investors ahead of its initial public offering that opens for public subscription on Friday, September 26. The company informed the bourses that it allocated 11,193,807 equity shares at ₹219 per share to anchor investors.
Some of the marquee institutions that participated in the anchor include mutual funds like Bandhan Small Cap Fund, Taurus Mid Cap Fund, and Taurus ELSS Tax Saver Fund.
Other marquee institutions include SBI General Insurance Company, Societe Generale–ODI, Nexus Global Opportunities Fund, Necta Bloom VCC–Necta Bloom One, Saint Capital Fund, Aarth AIF Growth Fund, and Al Maha Investment Fund PCC–Onyx Strategy.
Out of the total allocation of 11,193,807 equity shares to the anchor investors, 1,826,616 were allocated to 2 domestic mutual funds through 3 schemes, the company said.
Pace Digitek IPO details
Pace Digitek’s initial public offering (IPO) opens for subscription on Friday, September 26, and will close on Tuesday, September 30. The IPO price band is set at ₹208 to ₹219 per share, with a lot size of 68 shares. Retail investors will need a minimum investment of ₹14,892.
The company aims to raise ₹819.15 crore through a fresh issue of 3.74 crore equity shares, with no offer-for-sale component.
Of the proceeds, Pace Digitek plans to utilize ₹630 crore to establish battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company (MSEDCL) via its subsidiary, Pace Renewable Energies. The remaining funds will be used for general corporate purposes.
Focused primarily on the telecom infrastructure industry, including telecom towers and optical fiber cables, the company generates revenue across three verticals—telecommunications, energy, and information and communication technology (ICT). As of March 2025, it has an order book of ₹7,633.6 crore, with nearly 98% of orders coming from the public sector.
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