Mumbai, September 22, 2025 ( TGN ): Pace Digitek Limited has fixed the price band of ₹ 208/- to ₹219/- per Equity Share of face value ₹ 2/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Friday, September 26, 2025, for subscription and close on Tuesday, September 30, 2025.
Investors can bid for a minimum of 68 Equity Shares and in multiples of 68 Equity Shares thereafter.
The IPO is a fresh issue aggregating up to Rs 819.14 crore.
The proceeds from the fresh issue to the extent of Rs 630 crore will be funding capital expenditure requirement for investment in its subsidiary, Pace Renewable Energies Private Limited, for setting up battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), and general corporate purposes.
The company is a telecom infrastructure solution provider with a significant focus on the telecom infrastructure industry including telecom towers and optical fibre cables. The company undertakes manufacturing, installation, and commissioning services of products at the site, and undertakes operation and maintenance of site including tower erection and optical fiber cable laying as turnkey solution.
The company generates its revenue from operations from 3 verticals – telecommunications, energy, and information and communication technology (ICT). The company has 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.
The company commenced its operations as an electrical equipment product manufacturer for the telecom industry, and over the years has expanded its telecom infra operations to comprise products, projects, operations & maintenance (O&M), and services and solutions.
And with the acquisition of the business of GE Power Electronics India and rights over the ‘Lineage Power’ brand in Fiscal 2014, the company commenced ‘end to end’ manufacturing of direct current systems, which are tailored for telecom tower companies and operators, and has helped it to enhance its market position in the energy management solutions.
From Fiscal 2023, the company has backward integrated its supply of telecom infra products through its subsidiary, Lineage Power Private Limited (Lineage) for the projects that it undertakes. The company also has been undertaking projects for solarization of telecom towers (which comprises supply of solar modules and along with lithium-ion batteries and the related equipment to telecom towers, installation, commissioning, and O&M) since Fiscal 2013.
The company’s business can be broadly classified into the following verticals –
➢ Telecom – It provides end-to-end integrated solutions in the telecom tower infrastructure and optical fibre cables (OFC). Its telecom towers vertical is the mainstay of the business and under this vertical the company is engaged in – product manufacturing of equipment for telecom industry; providing O&M services for telecom towers, and annual maintenance of OFC and other ancillary services; and undertaking turnkey projects including erection of towers network, and OFC network
➢ Energy – the company undertakes solar energy projects on a ‘build, own and operate’ model, and solarization of telecom towers (which comprise supply of solar modules along with lithium-ion batteries and the related equipment to telecom towers, installation, commissioning, and O&M). The company also undertakes BESS projects in either standalone mode or coupled with solar PV plants, floated through both ‘build, own, and operate’ and ‘engineering, procurement, and construction’ models.
In addition, the company also undertakes rural electrification projects under engineering, procurement and construction (EPC) model; and products it manufactures, and supply lithium-ion battery systems (which act as an energy storage device for the telecom towers) larger containerized, liquid-cooled battery energy storage systems, power conversion systems (PCS) coupled with energy management systems (EMS) software.
➢ Information, communications and technology (ICT) sector – The company offers customized surveillance systems, smart classrooms, and smart kiosks for agricultural initiatives to the ICT sector. Over the years the company has transitioned from a manufacturer of equipment for the telecom industry to a multi-disciplinary solutions provider and its current offerings across its business verticals can be categorized as follows.
Products – The company through its subsidiary, Lineage, offers equipment for telecom towers, power management solutions, switch-mode power supply, power management unit, integrated power management unit, hybrid DC power system.
▪ Solar Solutions: Charge Control Unit – Inverters, power boosters, and AC-DC converters.
▪ Remote Management Systems – Lithium-ion battery systems – The company has recently through its subsidiary, Lineage, commenced manufacturing battery energy storage systems (BESS), which are systems that utilizes batteries to capture, store, and distribute electrical energy.
These include liquid cooled battery energy storage containers, power conversion systems (PCS) and energy management system (EMS).
➢ Services – The company provides installation and commissioning, and equipment upgradation of telecom Infra equipment and telecom infra equipment AMC
Telecom Infra equipment life cycle management and O&M for the telecom sector (towers and OFC).
➢ Projects – The company undertakes turnkey projects in telecom – tower and OFC, transmission, distribution, and system integration; ICT, specifically, surveillance and education, solarization of telecom towers, and solar panel installation.
The company also undertakes turnkey projects for renewable energy sector through its subsidiary, Pace Renewable Energies Private Limited. The company also undertake BESS projects in either standalone mode or coupled with solar PV plants, floated through both build, own, and operate and engineering, procurement, and construction models.
The company has set up two manufacturing facilities in Bengaluru, Karnataka.The company through Lineage, has recently commenced operations at its manufacturing facility at 73-P, Bidadi Industrial Area, Bidadi, Karnataka, which is being used for manufacturing BESS (manufacturing facility
Its three manufacturing facilities are spread across 200,000 square feet.
The company counts leading companies in the telecom (including public and private sector companies), state owned optical fiber corporations, and state-owned distribution companies, and ICT amongst its customers, and has developed strong long-term relationships with its customers. Its top 10 customers have been associated with the company for an average period of 10 years.
The company’s revenue from operations was Rs 2438.7 crore during FY25 vis-à-vis Rs 2434 crore a year earlier. Its net profit was Rs 279.1 crore during FY25 vis-à-vis Rs 229.8 crore a year earlier.
Unistone Capital Private Ltd is the book-running lead managers; and MUFG Intime India Private Limited is the registrar of the offer.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
