Pace Digitek IPO kicks-off today: Check issue details, analyst reviews, latest GMP & more
Pace Digitek is selling its shares in the price band of Rs 208-219 apiece, which could be applied for a minimum of 68 shares and its multiples to raise Rs 819.15 crore between September 26-30.
- Sep 26, 2025,
- Updated Sep 26, 2025 9:33 AM IST
The initial public offering (IPO) of Pace Digitek opens for bidding on Friday, September 26. The telecom infra company is selling its shares in the range of Rs 208-219 apiece. Investors can apply for a minimum of 68 equity shares and its multiples thereafter. The issue will close for bidding on Tuesday, September 30.
Bengaluru-based Pace Digitek is looking to raise a total of Rs 819.15 crore via primary market route, which is entirely a fresh share sale of 3,74,04,018 shares. The net proceeds from the issue shall be utilized towards funding the capital expenditure needs and general corporate purposes.
Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider with a primary focus on the telecom infra industry. Pace Digitek, through its subsidiary Lineage Power, offers key products to support telecom tower infrastructure. These include Power Management Solutions such as Switch-mode Power Supply and Hybrid DC Power Systems, as well as solar solutions.
Pace Digitek garnered Rs 245.14 crore from anchor investors as it allocated 11,193,807 shares at Rs 219 apiece. Its anchor book included names like SBI General Insurance, Societe Generale–ODI, Nexus Global Opportunities Fund, Necta Bloom VCC–Necta Bloom One, Saint Capital Fund, Aarth AIF Growth Fund, Al Maha Investment Fund PCC–Onyx Strategy, Bandhan Small Cap Fund and others.
For the financial year ended on March 31, 2025, Pace Digitek reported a net profit of Rs 279.10 crore with a revenue of Rs 2,462.20 crore. The company clocked a net profit of Rs 229.87 crore with a revenue of Rs 2,460.27 crore for the year 2023-24. At current valuations, the company shall command a total market capitalization of Rs 4,727 crore.
Pace Digitek has reserved shares worth Rs 2 crore for its eligible employees, who will get a discount of Rs 20 per share. Of the net issues, 50 per cent shares are reserved for qualified institutional bidders (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors. Last heard, it was commanding a grey market premium (GMP) of Rs 32 apiece, suggesting a 15 per cent listing pop for the investors.
Unistone Capital is the sole book running lead manager and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on October 06, Monday. Here's what a host of brokerage firms say about the IPO of Pace Digitak:
Reliance Securities Rating: Subscribe The Pace Digitek IPO offers a strong growth story, driven by telecom infrastructure, fibre broadband, and energy storage sectors. With a robust order book, diversified operations, and IPO proceeds aimed at expansion, the company has good revenue visibility and long-term growth potential, said Reliance Securities.
"While risks like capital intensity and regulatory dependence exist, its technological capabilities and execution track record make it an attractive investment in India’s digital and renewable infrastructure space," he said.
SBI Securities Rating: Neutral The IPO of Pace Digitek is valued at a P/E multiple of 16.9 times based on FY25 EPS on post-issue capital. Historically, it has recorded a CAGR of 120 per cent, 313 per cent and 311 per cent in revenue, Ebitda and PAT at Rs 2,439 crore, Rs 482 crore and Rs 279 crore respectively during FY23-25 period, respectively, said SBI Securities.
"While comparing with its close peers, the valuation appears to be reasonable however, high working capital requirement and customer concentration remain key monitorable. We maintain a 'neutral' view on the company and would like to monitor the performance of the company vis-à-vis its major peers post listing," it added.
Choice Broking Rating: Subscribe Pace Digitek has evolved from a pure equipment manufacturer to a turnkey solutions player with strengths in backward integration, diversified verticals, government-backed projects, and expansion into African markets. With India’s renewable energy push and rising demand for energy storage solutions, it is strategically placed to benefit from long-term industry growth, said Choice.
"Pace Digitek is valued at a P/E of 16.9 times and EV/sales of 1.6 times, which is at a discount to peers. A robust order book ensures steady revenue visibility, while its integrated business model drives cost efficiency and quality control. Supported by strong sector tailwinds in renewable energy and geographic diversification. We recommend a 'subscribe' rating," it said.
Ventura Securities Rating: Subscribe The increasing demand for renewable energy and energy-efficient infrastructure presents a robust growth opportunity for Pace Digitek. With India's growing focus on renewable energy targets, such as the ambitious 500 GW of renewable power capacity by 2030, it stands poised to benefit from both public and private sector investments in solar and hybrid energy solutions, said Ventura.
"Furthermore, government initiatives in infrastructure development, especially in telecom and urban projects, will support Pace Digitek’s strategic objectives, particularly in smart cities and telecom tower solutions," it added.
BP Wealth Rating: Subscribe Pace Digitek is also well positioned to capitalise industry growth trends. On the upper price band, the company is currently valued at a P/E of 13 times based on FY25 earnings which is cheaper compared to its peers. We recommend a 'subscribe' rating for this issue from a medium to long term perspective, said BP Wealth.
SMIFS Rating: Subscribe It operates three advanced manufacturing facilities in Karnataka, including the recently commissioned Bidadi plant for BESS, offering significant growth potential. "We recommend subscribing to the issue given Pace Digitek’s diversified business, strong order book, pan-India and international expansion, and growing presence in BESS and renewable energy, offering significant long term opportunity," said SMIFS.
The initial public offering (IPO) of Pace Digitek opens for bidding on Friday, September 26. The telecom infra company is selling its shares in the range of Rs 208-219 apiece. Investors can apply for a minimum of 68 equity shares and its multiples thereafter. The issue will close for bidding on Tuesday, September 30.
Bengaluru-based Pace Digitek is looking to raise a total of Rs 819.15 crore via primary market route, which is entirely a fresh share sale of 3,74,04,018 shares. The net proceeds from the issue shall be utilized towards funding the capital expenditure needs and general corporate purposes.
Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider with a primary focus on the telecom infra industry. Pace Digitek, through its subsidiary Lineage Power, offers key products to support telecom tower infrastructure. These include Power Management Solutions such as Switch-mode Power Supply and Hybrid DC Power Systems, as well as solar solutions.
Pace Digitek garnered Rs 245.14 crore from anchor investors as it allocated 11,193,807 shares at Rs 219 apiece. Its anchor book included names like SBI General Insurance, Societe Generale–ODI, Nexus Global Opportunities Fund, Necta Bloom VCC–Necta Bloom One, Saint Capital Fund, Aarth AIF Growth Fund, Al Maha Investment Fund PCC–Onyx Strategy, Bandhan Small Cap Fund and others.
For the financial year ended on March 31, 2025, Pace Digitek reported a net profit of Rs 279.10 crore with a revenue of Rs 2,462.20 crore. The company clocked a net profit of Rs 229.87 crore with a revenue of Rs 2,460.27 crore for the year 2023-24. At current valuations, the company shall command a total market capitalization of Rs 4,727 crore.
Pace Digitek has reserved shares worth Rs 2 crore for its eligible employees, who will get a discount of Rs 20 per share. Of the net issues, 50 per cent shares are reserved for qualified institutional bidders (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors. Last heard, it was commanding a grey market premium (GMP) of Rs 32 apiece, suggesting a 15 per cent listing pop for the investors.
Unistone Capital is the sole book running lead manager and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on October 06, Monday. Here's what a host of brokerage firms say about the IPO of Pace Digitak:
Reliance Securities Rating: Subscribe The Pace Digitek IPO offers a strong growth story, driven by telecom infrastructure, fibre broadband, and energy storage sectors. With a robust order book, diversified operations, and IPO proceeds aimed at expansion, the company has good revenue visibility and long-term growth potential, said Reliance Securities.
"While risks like capital intensity and regulatory dependence exist, its technological capabilities and execution track record make it an attractive investment in India’s digital and renewable infrastructure space," he said.
SBI Securities Rating: Neutral The IPO of Pace Digitek is valued at a P/E multiple of 16.9 times based on FY25 EPS on post-issue capital. Historically, it has recorded a CAGR of 120 per cent, 313 per cent and 311 per cent in revenue, Ebitda and PAT at Rs 2,439 crore, Rs 482 crore and Rs 279 crore respectively during FY23-25 period, respectively, said SBI Securities.
"While comparing with its close peers, the valuation appears to be reasonable however, high working capital requirement and customer concentration remain key monitorable. We maintain a 'neutral' view on the company and would like to monitor the performance of the company vis-à-vis its major peers post listing," it added.
Choice Broking Rating: Subscribe Pace Digitek has evolved from a pure equipment manufacturer to a turnkey solutions player with strengths in backward integration, diversified verticals, government-backed projects, and expansion into African markets. With India’s renewable energy push and rising demand for energy storage solutions, it is strategically placed to benefit from long-term industry growth, said Choice.
"Pace Digitek is valued at a P/E of 16.9 times and EV/sales of 1.6 times, which is at a discount to peers. A robust order book ensures steady revenue visibility, while its integrated business model drives cost efficiency and quality control. Supported by strong sector tailwinds in renewable energy and geographic diversification. We recommend a 'subscribe' rating," it said.
Ventura Securities Rating: Subscribe The increasing demand for renewable energy and energy-efficient infrastructure presents a robust growth opportunity for Pace Digitek. With India's growing focus on renewable energy targets, such as the ambitious 500 GW of renewable power capacity by 2030, it stands poised to benefit from both public and private sector investments in solar and hybrid energy solutions, said Ventura.
"Furthermore, government initiatives in infrastructure development, especially in telecom and urban projects, will support Pace Digitek’s strategic objectives, particularly in smart cities and telecom tower solutions," it added.
BP Wealth Rating: Subscribe Pace Digitek is also well positioned to capitalise industry growth trends. On the upper price band, the company is currently valued at a P/E of 13 times based on FY25 earnings which is cheaper compared to its peers. We recommend a 'subscribe' rating for this issue from a medium to long term perspective, said BP Wealth.
SMIFS Rating: Subscribe It operates three advanced manufacturing facilities in Karnataka, including the recently commissioned Bidadi plant for BESS, offering significant growth potential. "We recommend subscribing to the issue given Pace Digitek’s diversified business, strong order book, pan-India and international expansion, and growing presence in BESS and renewable energy, offering significant long term opportunity," said SMIFS.