Get the latest financial, economic and market news, instantly.
Subscribe
My Readse-paperNewslettersIFSC Code Finder NewWeb StoriesMintGenieFor You
Switch to the app Download App
e-paper
Home / Markets / Stock Markets /  Multibagger IPO: This defence stock's price almost doubles in 3 months

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

Shutterstock

  • Data Patterns (India) share price has continued its bullish run in the past few months

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

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

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

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

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

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

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

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

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

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

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

TRENDING IN MARKETS See All

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

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

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

TRENDING IN MARKETS See All
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.