The Data Patterns initial public offering (IPO) debuted on Friday at Rs. 856 per share, nearly 48 percent higher than the issue price. The aerospace and defense electronics solutions provider is backed by former Blackstone executive Matthew Cyriac. Its IPO raised over $800 million and was valued at more than $1 billion at the time of listing. After the IPO, the company has generated strong cash flows and is now debt-free.
The company’s shares have made a solid primary market debut, delivering a 47 percent listing gain to its allottees. On the BSE, it opened at Rs 585 a share, while on the NSE, it opened at Rs 856 apiece. As of this writing, the stock has gained over 60% since the listing date. The stock’s valuation is currently near its 52-week high.
The IPO proceeds will likely be used to repay debt. In addition, Data Patterns expects to use the proceeds of its IPO to improve its facilities in Chennai. The company also expects to cross Rs 1,100 in the next few quarters. Investors looking for a long-term position are advised to buy the Data Patterns stock on the day it lists. A strong listing day is a good time to invest in this stock.
While data analytics companies aren’t a good investment, data patterns are a great option for long-term investors. The company is vertically integrated, has a diversified portfolio, and is generating good cash flow. The stock is valued at 56x FY21 P/E on a post-IPO basis. The company’s debt-free status means it’s likely to become debt-free after the IPO.
The company’s shares have delivered strong listing gains for its allottees, rising by 47 percent on the BSE. The shares started trading at Rs. 856 per share on the NSE and at Rs. 585 on the BSE. With such strong results, the Data Patterns stock has a bright future. The IPO is a great time to buy this stock. If you’re looking for a good entry point, consider these factors.
Despite the recent IPO, the company’s business model and prospects are strong. Its revenue and profits have grown by 31% over the last two years and are projected to cross Rs 1,100 in the next few quarters. The company has a stable balance sheet, and its return ratios have been healthy. Its IPO price has increased by 169%, but there is still room for more upside. There are some analysts who expect the IPO price to rise further.
The IPO was listed at a 46% premium. The share price is now trading at Rs.856 per share on the NSE. The IPO is a good buy for a new investor. The IPO is a great investment, and it is a good way to start a career in the aerospace and defense industries. Its IPO will be one of the most successful in India, with its focus on government organizations and the defense sector.
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