Electronics Mart and Data Patterns file DRHP with SEBI

On 22 September 2021, defence electronics manufacturers Electronics Mart and Data Patterns filed their initial draft paper with the market regulator SEBI.

Following is a look at the available information about these upcoming IPOs.

A Quick Look at Data Patterns IPO Details

This defence electronics player is aiming to fundraise a maximum of Rs. 700 crores through its initial public offering. The said public offer will comprise a fresh issue of equity shares worth Rs. 300 crores. It will also consist of an offer for sale of 60,70,675 shares by its selling shareholders and promoters.

Here’s a quick breakdown of its Data Patterns’ OFS:

• 67 lakh equity shares by Srnivasagopalan Rangarajan
• 67 lakh equity shares by Rekha Murthy Rangarajan
• A maximum of 75,000 equity shares by Sudhir Nathan
• Nearly 4.15 lakh equity shares by G K Vasundhara
• Up to 16.47 lakh equity shares from other existing shareholders

Data Patterns may carry out a pre-IPO placement to raise Rs. 60 crores. If the company goes ahead with its pre-public offer plan, net proceeds raised from its public offer will be reduced.

How does Data Patterns Plan to Use its IPO Proceeds?

Here’s how Data Patterns intends to utilise the net proceeds from its upcoming IPO:

• Repayment of existing debt
• Funding working capital
• Upgrading existing facilities
• Executing expansion plans
• Addressing corporate purposes

Data Patterns’ Financial Standing and Lead Managers

As of July 2021, Data Patterns’ order book stood at Rs. 582.30 crores, representing a CAGR of 40.72%. Here are the other key highlights of Data Pattern’s financials in FY21:

• Revenue from operations – Rs. 226.55 crores
• Net profit – Rs. 55.57 crores

According to the DRHP, JM Financial and IIFL Securities have been appointed as the book running lead managers of this upcoming IPO.

Electronics Mart IPO at A Glance

This consumer durable retail chain has filed its initial draft papers to raise Rs. 500 crores. Electronics Mart is yet to share information regarding the composition of its initial public offer.

How does Electronics Mart Plan to Use its Net Proceeds?

Electronics Mart plans to use its proceeds from IPO in these ways:

• It will use Rs. 50 crores for debt repayment
• Around Rs. 133.8 crores will be used to account for CAPEX
• 200 crores will be used to address working capital requirements

Besides these, the company plans to use net proceeds from its IPO to meet general corporate expenses.

Where does Electronics Mart Stand Financially?

Though Electronics Mart managed to generate profits, the same has declined when compared to last year. It is believed that pandemic, coupled with reduced consumer spending, has eroded its scope of generating increased revenue.

That said, here are the key financial highlights of this company:

• Total income stood at Rs. 3,207.37 crores.
• Net profits amounted to Rs. 58.62 crores.

Per the DRHP, entities such as JM Financial, Anand Rathi Advisors, and IIFL Securities will act as this public offering’s lead managers.

Wrapping Up

With Paras Defence already paving the way in the market among defence electronics manufacturers, Data Patterns and Electronics Mart IPO can also be popular among investors. Nonetheless, investors must tread cautiously before proceeding with any undertaking.

Get all the latest news and developments of these upcoming IPOs from us. Keep an eye on Angel One’s blog section to receive timely information about the stock and IPO market.

 

Frequently Asked Questions

1. When will Data Patterns open its IPO for public subscriptions?

Data Patterns is yet to release information about its IPO public subscription and timeline details.

2. Who is Electronics Mart’s promoter?

Pavan Kumar Bajaj is the owner of Electronics Mart.

3. What will be the issue type of Electronics Mart IPO?

Information about Electronics Mart IPO type is yet to be shared.