Data Patterns IPO: 2021 listing pop and issue facts

Overview: defence and aerospace electronics debut

Data Patterns (India) Ltd, a defence and aerospace electronics solutions provider, entered the public markets in December 2021. The company, mapped to the Aviation sector and Aerospace and Defence industry, launched a book-built IPO that raised ₹588.22 crore. The offer was priced at ₹585 per share, with a price band of ₹555 to ₹585 and a face value of ₹2 per share. Shares listed on both BSE and NSE on December 24, 2021.

The listing drew attention because the stock opened at a large premium to the issue price. Market participants also tracked strong subscription data and grey market signals ahead of the debut. Multiple reports cited expectations of a 44-50% premium based on grey market indications and the broader interest in defence-linked themes.

IPO structure: fresh issue and offer for sale

As per the offer details shared in the material, the IPO aggregated to ₹588.22 crore and comprised two parts. The fresh issue component was ₹240.00 crore, and the offer for sale (OFS) component was ₹348.22 crore. The equity share face value was ₹2.

The issue size was also described as 1,00,55,114 equity shares (10,055,114 shares) of face value ₹2. The offer price of ₹585 per share included a share premium of ₹583 per share. The offer price was stated as 292.50 times the face value.

Some market commentary also referred to the issue as an OFS, but the transaction details provided alongside the listing clearly mention both a fresh issue and an OFS component.

Key dates: open, close, and listing

The IPO opened for subscription on Tuesday, December 14, 2021 and closed on Thursday, December 16, 2021. The listing date is stated as Friday, December 24, 2021 on both BSE and NSE.

One tracker line in the input mentions a listing date of December 27, 2021, but the listing tables and the trading-day prices shown are for December 24, 2021. The same dataset also includes explicit “Listed on Fri, Dec 24, 2021” references and listing-day open prices for both exchanges.

Pricing and application details

The IPO price band was ₹555 to ₹585 per share, and the final issue price was ₹585 per share on both BSE and NSE. The minimum lot size for application was 25 shares, and bids could be made in multiples of 25 thereafter.

At the issue price, the minimum application amount for one lot was ₹14,625. The post-issue implied market capitalisation was cited in the range of ₹2,892 crore to ₹3,035 crore.

Subscription: demand indicators from the book

Subscription data included in the text points to strong investor demand. Retail investors bid for 23.14 times the shares reserved for them. Overall, the issue was subscribed 119.62 times, as referenced in multiple places in the input.

A PTI dispatch dated December 14 also reported the offer was subscribed 3.30 times on the first day, with bids for 2,34,31,875 shares against 70,97,285 shares on offer (as per NSE data). These figures were part of the early bidding trend before the final subscription multiple was reported.

Grey market signals and pre-listing expectations

Ahead of listing, some analysts and market watchers cited grey market premium (GMP) levels that implied a strong debut. The dataset mentions grey market premium in the 44-48% range at one point, translating to a trading range of ₹845-₹865 per share against the issue price of ₹585, with an absolute premium of ₹260-₹280.

Another report in the same input noted that a day ahead of listing the scrip was exchanging hands at a premium of ₹320-₹325 per share in the grey market, indicating strong expectations. Individual estimates in the input included a projected listing around ₹845 and a view that the stock could list at a premium of more than 50%, based on prevailing grey market cues.

Listing day performance: strong open, volatile intraday

On debut, the stock listed at ₹864 on BSE versus the issue price of ₹585, a premium of about 47%. On NSE, it listed at ₹856.05. The provided “Price Details” table shows that on listing day the stock opened at ₹864 on BSE and ₹856.05 on NSE, and touched a high of ₹864 on both exchanges.

The same table also records a sharp intraday move lower from the open. The low was ₹744.05 on BSE and ₹743.85 on NSE, while the last trade captured in the table was ₹754.85 on BSE and ₹755.00 on NSE. Separately, another line notes that at noon the stock was up 35% at ₹790.70, showing active price discovery through the session.

Company background and positioning in aerospace and defence

Data Patterns (India) Limited was incorporated on November 11, 1998. The company is described as a vertically integrated defence and aerospace electronics solutions provider, with offerings across platforms including space, air, land and sea.

The input highlights design capabilities across processors, power, radio frequencies (RF) and microwave, embedded software and firmware, and mechanical engineering. One section also states net profitability growth of approximately 164% between fiscal 2020 and fiscal 2021, positioning it among the faster-growing names in the Defence and Aerospace Electronics segment in India.

Pre-IPO placement and offer participants

The company undertook a pre-IPO placement of ₹60 crore. This placement comprised 1,039,861 equity shares priced at ₹577 per share, aggregating to ₹60 crore.

For the OFS portion, the input lists selling shareholders including promoters Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, each up to 1,967,013 and 1,967,012 equity shares respectively, along with other selling shareholders referenced in the offer details section.

Key facts table: IPO snapshot

Listing day prices: BSE vs NSE

Market impact and why the debut mattered

The listing delivered an immediate premium to IPO investors, based on the opening prints on both exchanges relative to the ₹585 issue price. At the same time, the intraday low and the last-trade levels shown in the table highlight volatility on day one, a common feature when a heavily subscribed IPO moves from allocation to open-market trading.

For the broader market, the IPO also served as a data point for appetite toward defence and aerospace electronics themes during that period. Subscription multiples, retail participation, and pre-listing grey market signals were repeatedly cited as drivers of sentiment around the debut.

Conclusion

Data Patterns’ ₹588.22 crore IPO closed in mid-December 2021 and listed on December 24, 2021 on BSE and NSE. The stock opened at a large premium to the ₹585 issue price, while the intraday range highlighted active price discovery on debut.

The core IPO details were anchored by a ₹240 crore fresh issue, a ₹348.22 crore OFS, and a lot size of 25 shares, with the offer drawing overall subscription of 119.62 times as reported in the input data.