Data Patterns (India) Ltd IPO
IPO Subscription Details
- Open Date 14 Dec
- Close Date 16 Dec
- Lot Size 25
- IPO Size ₹ 588.22 Cr
- IPO Price Range ₹ 555 to ₹585
- Min Investment ₹ 13875
- Listing Exchange NSE, BSE
- Basis of Allotment 21 Dec
- Refunds 22 Dec
- Credit to Demat Account 23 Dec
- Listing Date 24 Dec
Data Patterns (India) Ltd IPO Subscription Status
| Category | Subscription Status |
| Qualified Institutional (QIB) | 190.86 Times |
| Non-Institutional (NII) | 254.22 Times |
| Retail Individual | 23.14 Times |
| Total | 119.62 Times |
Data Patterns IPO Subscription Details (Day by Day)
| Date | QIB | NII | Retail | Total |
| December 14, 2021 17:00 | 0.00x | 1.46x | 5.89x | 3.30x |
| December 15, 2021 17:00 | 0.92x | 5.20x | 12.42x | 7.68x |
| December 16, 2021 17:00 | 190.86x | 254.22x | 23.14x | 119.62x |
IPO Synopsis
Data Patterns India Ltd IPO is opening for subscription between 14 December and 16 December. The company will be listed on the stock exchanges on 24 December, 2021. The price band of the issue is Rs.555- Rs.585 per share. The minimum investment required to apply for the IPO is Rs.14,625 for 1 lot (25 shares) of shares.
The issue consists of a fresh issue worth Rs.240 crore and an offer for sale of equity shares worth Rs.348.22 crore, taking the total issue size to Rs.588.22 crore. The fresh issue size has been reduced from Rs.300 crore to Rs.240 crore due to a pre-IPO placement of Rs.60 crore. The book running lead managers to the issue are IIFL Securities and JM Financial Ltd. The pre issue promoter holding stands at 59.95%. The company promoters are Rekha Murthy Rangarajan, Srinivasagopalan Rangarajan.
Objectives of the issue:
1. Rs.60.80 crore from the net proceeds is to be set aside for repayment and prepayment of any borrowings outstanding
2. Rs.95.19 crore is required to fund the capital expenditures of the company
3. Rs.59.83 crore is to be used to upgrade and expand the facilities in Chennai
About Data Patterns (India) Ltd
Data Patterns India Ltd, founded in 1985, is a defense and aerospace electronics solutions provider that caters to the indigenously developed defense products industry. They offer products to the entirety of defense and aerospace platforms that includes air, land and water. It is one of the fastest growing companies in the aerospace and defense electronics sector, in the country. The main products and services offered by Data Patterns are electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, functional testing and verification, environment testing and verification and engineering services and opportunities.
The manufacturing facility stands at a size of 100,000 square feet which is built on 5.75 acres of land in Chennai. Chennai has facilities for designing, manufacturing, qualification and life cycle support of electronic systems in the defense and aerospace applications. Data Patters plans on adding 2.81 acres of land as an expansion project. The company employed 818 people, including 500 qualified engineers, as of 30 September, 2021.
|
Particulars |
Number of orders |
Value (In Rs cr) |
|
Production contracts |
34 |
389.81 |
|
Development contracts |
19 |
123.34 |
|
Service contracts |
52 |
68.13 |
|
Total order book |
105 |
581.29 |
Data Patterns (India) Ltd Financial Status
|
Particulars (In Rs cr) |
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
Total Income |
97.17 |
226.55 |
160.19 |
132.59 |
|
PAT |
23.20 |
55.57 |
21.04 |
7.702 |
|
EPS (In Rs) |
4.97 |
11.89 |
4.5 |
1.65 |
|
Particulars (In Rs cr) |
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
Total Assets |
355.8 |
328.37 |
295.36 |
277.42 |
|
Total Borrowings |
52.41 |
33.22 |
60.56 |
60.13 |
|
Equity share capital |
9.35 |
1.7 |
1.7 |
1.7 |
Key Ratios
|
Particulars
|
Q2 ended 30 September, 2021 |
FY21 |
FY20 |
FY19 |
|
EBITDA Margin |
39.67 |
41.75 |
29.50 |
20.37 |
|
PAT Margin |
23.88 |
24.53 |
13.14 |
5.81 |
|
ROCE |
13.41 |
34.69 |
23.39 |
12.45 |
|
ROE |
10.71 |
26.75 |
13.71 |
5.8 |
Peer Comparison
|
Company |
Revenue (In Rs cr) |
PAT (In Rs cr) |
EBITDA Margin |
ROCE |
ROE |
|
L&T |
82,384 |
6,679 |
8.00% |
16.00% |
13.00% |
|
BEL |
12,921 |
1,794 |
21.00% |
26.00% |
18.00% |
|
Data Patterns |
156.1 |
21.05 |
29.50% |
23.40% |
13.70% |
|
Paras Defence |
149 |
19.66 |
27.01% |
14.90% |
16.00% |
|
Mahindra Defense Systems |
307.33 |
18.96 |
16.60% |
13.40% |
6.60% |
|
Tata Advanced Systems |
968.7 |
59 |
18.52% |
3.96% |
0.30% |
|
Astra Microwave Products |
462 |
47 |
19.00% |
13.00% |
8.50% |
|
Godrej and Boyce |
11,257 |
224.1 |
3.04% |
3.46% |
1.50% |
|
Centum Electronics |
898.6 |
27.8 |
12.60% |
14.30% |
9.70% |
|
Alpha Design Technologies |
399 |
10.4 |
10.40% |
1.30% |
0.10% |
|
Adani Aerospace & Defence Ltd |
3.74 |
-1.77 |
- |
- |
- |
|
Mistral |
142.91 |
12.26 |
15.12% |
16.03% |
12.00% |
Key Points for Data Patterns IPO are
IPO Key Points
-
Strengths:
1. The company is bound to benefit from the “Make in India” opportunity as the Indian defense industry is growing at a rapid rate and becoming more and more self sustainable
2. The company focuses on in-house development and manufacturing which leads to higher innovation, design and developmental efforts
3. Data Pattern has has an enviable order book of Rs.581.29 crore which constitutes of several marquee customers that include the Indian Government Defense ministry, BrahMos, DRDO, HAL, BEL and a DPSU
4. The company has a very skillful workforce and a very experienced management team -
Risks:
1. A large part of the business depends on contracts received from the Government of India. If there is any decline or re-prioritization of the Indian defense and aerospace budget, this could materially affect the operations of the company
2. Any failure to stick to and comply with the contracts entered into with the Government will lead to an adverse effect on the business and could also lead to legal liabilities
3. The company is subject to very strict quality control measures, inspections and audit and if there is any compromise on quality, it will negatively effect their reputation
4. They have to comply with strict government rules, licenses and permits
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