Data Patterns (India) Limited IPO : Issue Opens Dec 14, 2021
Incorporated in 1985, Data Patterns is a defense and aerospace electronics solutions provider catering to the indigenously developed defense products industry. The company offers products to the entire spectrum of defense and aerospace platforms - space, air, land, and sea. The company's core competencies include electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, functional testing and validation, environment testing and verification, and engineering services opportunities.
The company's manufacturing facility consists of a 100,000 square feet factory built on 5.75 acres of land in Chennai, which has facilities for design, manufacturing, qualification, and life cycle support of high-reliability electronic systems used in defense and aerospace applications. The company is also planning to acquire an additional 2.81 acres of adjacent land for further expansion. As of July 31, 2021, Data Patterns had 760 employees with more than 450 qualified engineers.
Objects of the Issue:
The IPO aims to utilize the net proceed towards the following purposes;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company.
- Funding working capital requirements of the company.
- Upgrading and expanding company’s existing facilities at Chennai.
- Meet general corporate purposes.
Competitive Strengths:
- Strategic defense & aerospace electronics solutions provider, well-positioned to benefit from the Make in India opportunity.
- Innovation focussed business model
- Sound order book with orders from several prestigious customers in the Indian defense ecosystem
- The modern certified manufacturing facility of international standards
- Track record of profitable growth
- Experienced management team and skilled workforce
Company Promoters:
Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan are the company promoters.
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