Pace Digitek IPO day 2: GMP drops to 5%

Pace Digitek, a company offering integrated telecom and energy solutions, has entered the second day of its IPO bidding. On Day 1, the issue was subscribed 16%. In the grey market, the IPO is currently trading at a 5.5% premium over the issue price of ₹219, a significant drop from the earlier 14% premium.

The IPO will remain open for subscription until September 30, covering a total of three days. Allotment is expected on October 1, with shares scheduled to begin trading on October 6. The company seeks to raise ₹819 crore through a fresh issue of up to 3.94 crore equity shares.