Data Patterns IPO - Subscription Day 2

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 13th December, Data Patterns (India) did an anchor placement of 30,16,533 shares at the upper end of the price band of Rs.585 to 23 anchor investors raising Rs.176.47 crore, representing 30% of the overall issue size. 

The list of QIB anchors included a number of marquee domestic investor names like Axis Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India MF, Kotak Mutual Fund, IIFL Fund and Tata Mutual Fund.

The QIB portion (net of anchor allocation as explained above) has a quota of 19.59 lakh shares of which it has got bids for 18.05 lakh shares at the close of Day-2, implying 0.92X or 92% subscription for QIBs at the end of Day-2. However, QIB bids typically get bunched on the last day but the strong institutional response in the anchor placement from domestic funds shows that there is institutional appetite for the IPO.

HNI / NII Portion

The HNI portion got subscribed 5.20 times (getting applications for 80.15 lakh shares against the quota of 15.42 lakh shares). This is good progress for Day-2 because this segment normally sees the maximum response bunched on the last day of the issue. Bulk of the funded applications and corporate applications, come in on the last day of the IPO only.

Retail Individuals

The retail portion was subscribed a relatively robust 12.42 times at the close of Day-2, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is 35% in this IPO.

For retail investors; out of the 35.97 lakh shares on offer, valid bids were received for 446.71 lakh shares, which included bids for 337.63 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.555-Rs.585) and will close for subscription on 16th December 2021.

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