Data Patterns on expected lines saw robust listing gains to the tune of 47%. On the BSE, the scrip opened at a price of Rs. 864 against the issue price of Rs. 585, while on the NSE it started trade at Rs. 856.
The markets have recovered from the fall and the Nifty is now above 17,000 points, while the volatility is still to sustain. Amid it, IPOs are seeing mixed listing, after a weak listing for Metro Brands the day before yesterday, it was a good listing for MedPlus Health. Now there is another IPO slated to list today, Data Patterns.
The scrip of Data Patterns as per the data will be admitted to BSE and NSE exchange in the 'B' group of securities. As per a portal tracking IPOs, the stock commanded a premium of Rs. 310, hinting at strong listing. So, the listing can be at Rs. 900, a premium of 50% in comparison to the issue price.
The company is a vertically integrated Defence and Aerospace electronics solutions provider catering to the indigenously developed defence products industry.
"As the market is regaining momentum after the recent lows, good traction is seen over the primary market pack. The listing of Data Patterns should be impressive as the company enjoys highest EBITDA and ROE (Return on Equity) margins compared to its peers. Recently listed defense sector companies like Mtar Technologies and Paras Defense too rewarded the investors. Data Patterns may list around ₹900, emanating stellar gains of over 50 per cent", Abhay Doshi, Founder, UnlistedArena.com is quoted as saying in a leading dailies.