Pace Digitek Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹219
Per ShareLot Size
68 Shares
Minimum Investment
₹14,892
Issue Size
₹819.15 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Pace Digitek Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
84.07%
Promoter Holding (Post-Issue)
69.5%
Issue Type
Book Building
ISIN
INE0S3G01027
About the Company
We are a telecom infrastructure solutions provider with a significant focus on the telecom industry including telecom tower infrastructure and optical fibre cables. We undertake manufacturing, installation and commissioning services of products at the site and undertake operation and maintenance of site including tower erection and optical fiber cable laying as turnkey solution. We generate our revenue from operations from 3 verticals i.e., telecommunications, energy, and information and communication technology (ICT). In the energy sector we provide solar and battery energy storage solutions including products manufacturing, installation and commissioning services, and operation and maintenance, including turnkey projects. We have established operational presence in Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Jammu and Kashmir, Uttarakhand, Assam, Manipur, Arunachal Pradesh, Mizoram, Nagaland, Sikkim among others along with operations in Myanmar and Africa.
Industry Overview
According to CRISIL, telecom towers are mainly of two types i.e., ground-based or roof-top towers. Roof-top towers require less space compared to ground-based towers and has lower installation cost. However, the capacity of ground-based towers is comparatively less than that of roof-top towers. The Indian optical fibre EPC industry is defined according to service offerings, such as optical fibre laying and roll-out, network deployment, and system integration across end-use sectors, such as telecommunications, defence, railways, smart cities, IT, and enterprises, etc. Telecom tower companies set up an entire range of passive infrastructure to be used by telecom operators to offer services to their subscribers. Passive infrastructure refers to equipment such as towers, shelters, power regulation equipment, battery back-ups, diesel generator (DG) sets, air-conditioners, fire extinguishers and security cabins required at sites where telecom towers are installed. The participants in the industry comprise telecom tower Companies and optical fibernet companies. Battery energy storage system (BESS) is an electrochemical device that charges (or collects energy) from the grid and discharges that energy at a later time to provide electricity or other grid services when needed. The battery system comprises the battery pack, which connects multiple cells to appropriate voltage and capacity; the battery management system (BMS); and the battery thermal management system. The BMS protects the cells from harmful operation, in terms of voltage, temperature and current, to achieve reliable and safe operation and balances varying cell states-of-charge (SOCs) within a serial connection.
Company History
Our Company was originally incorporated as `Pace Power Systems Private Limited', at Bengaluru as a private limited company under the provisions of Companies Act, 1956 and received a certificate of incorporation issued by the RoC on March 1, 2007. Thereafter, pursuant to a special resolution passed by the shareholders of our Company in their meeting on July 3, 2020, the name of our Company was changed to `Pace Digitek Infra Private Limited', and a fresh certificate of incorporation dated July 24, 2020, was issued to our Company by the RoC. Pursuant to a Board resolution dated May 10, 2024 and a special resolution passed by the Shareholders of our Company in their meeting on May 28, 2024, the name of our Company was changed to `Pace Digitek Private Limited', and a fresh certificate of incorporation dated July 29, 2024, was issued to our Company by the RoC. Subsequently, our Company got converted into a public limited company pursuant to a Board resolution dated October 16, 2024 and a special resolution passed by the Shareholders of our Company on October 16, 2024, and the name of our Company was changed to its present name, `Pace Digitek Limited', pursuant to a fresh certificate of incorporation dated November 19, 2024 issued to our Company by the RoC.
Products & Services
- The Company is a telecom infrastructure solutions provider with a significant focus on the telecom industry including telecom tower infrastructure and optical fibre cables.
Growth Strategy
- We, through Lineage, intend to foray into manufacturing battery energy storage system (BESS) and undertake projects.
- Deepen our existing products and services offerings and expand our geographical reach.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 37,413,196 equity shares of face value of Rs. 2 each (Equity Shares) of Pace Digitek Limited (Company) for cash at a price of Rs. 219 per equity share (Including a Share Premium of Rs. 217 Per Equity Share) (Issue Price) aggregating Rs. 819.15 Crore (Issue) the issue includes a reservation of 100,502 equity shares aggregating Rs. 2.00 Crore (Constituting 0.05% of the Post-Issue Equity Share Capital), for subscriptions by eligible employees (Employee Reservation Portion). the company may, in consultation with the B R L M, offer a discount of 9.13% of the issue price (Equivalent of Rs. 20 Per Equity Share) to the eligible employees bidding in the employee reservation portion (Employee Discount), The issue less the employee reservation portions is hereinafter referred to as the `Net Issue'. the issue and the net issue shall constitute 17.33% and 17.29% of the post-issue paid-up equity share capital of the company, respectively. Price Band: Rs. 208/- to Rs. 219/- for equity share of face value of Rs. 2 each. The floor price is 104 times times the face value and cap price is 109.5 times of the face value of the equity shares. Bids can made for a minimum of 68 equity shares and in multiples of 68 equity shares thereafter. A discount of Rs. 20 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- We are an end-to-end solutions provider with integrated operations in the telecom tower sector.
- Diversified business segments with strong order book.
- Experienced Board of Directors buttressed by technically proficient and qualified senior management personnel and employees.
- Advanced manufacturing facilities with production efficiency.
- Track record of financial and operational performance with profitable growth.
- Our business is significantly reliant on certain key customers, and we derived 96.25%, 99.45% and 92.16% of our revenue from operations during the Fiscal 2025, Fiscal 2024 and Fiscal 2023 respectively, from our top 10 customers. Further, our business, results from operations, and financial condition are dependent on maintaining relationship with our customers. Further, our business, results from operations, and financial condition are dependent on maintaining relationship with our customers. Loss of any of these customers or loss of revenue from any key customers could have a material adverse effect on our business, financial condition, results of operations and cash flows.
- A significant proportion of our orders are from government related entities which award the contract through a process of tender, and we derived 96.17%, 92.08% and 34.14% of our revenue from operations during the Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively, from our public sector customers. Tenders, typically, are awarded to the lower bidder once all other eligibility criteria are met. Our performance could be adversely affected if we are not able to successfully bid for these contracts or required to lower our bid value.
- Our business operations are diversified and are significantly dependent on demand from our end-use industries / sectors, in particular telecom sector. We derived 94.22%, 95.40% and 81.92% of our revenue from operations during the Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively, from the telecom sectors. Any downturn in the end-use industries / sectors could have an adverse impact on our Company's business and results of operations.
- Our source of revenue is concentrated to certain regions in India. Our inability to operate and grow our business in such locations may have an adverse effect on our business, financial condition, result of operation, cash flow and future business prospects.
- Our business operations have grown substantially in recent period, particularly in Fiscal 2024, and we may not be able to sustain our rate of growth in the future.