About the Company:
Pace Digitek Ltd is a telecom infrastructure solution provider with a significant focus on the telecom infrastructure industry including telecom towers and optical fibre cables.
Company undertakes 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.
Company generate revenue from operations from 3 verticals i.e., telecommunications, energy, and information and communication technology (ICT).
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.
Company commenced operations as a electrical equipment product manufacturer for the telecom industry, and over the years we have expanded our Telecom Infra operations to comprise products, projects, operations & maintenance (O&M), and services and solutions.
Company has also been undertaking projects for solarization of telecom towers (which comprises supply of solar modules and along with lithium-ion batteries and the related equipments to telecom towers, installation, commissioning and O&M) since Fiscal 2013.
Company Acquired the business of GE Power Electronics India.
With the acquisition of the business of GE Power Electronics India and rights over the ‘Lineage Power’ brand in Fiscal 2014, company commenced ‘end to end’ manufacturing of direct current systems which are tailored for telecom tower companies and operators and has helped us enhance our market position in the energy management solutions.
From Fiscal 2023, company has backward integrated our supply of Telecom Infra products through our Subsidiary, Lineage Power Private Limited (Lineage) for the projects that we undertake.
Company’s Business Verticals:
Telecom Business:
Company provides end-to-end integrated solutions in the telecom tower infrastructure and optical fibre cables (OFC). The telecom towers vertical is the mainstay of our business and under this vertical we are engaged in (i) product manufacturing of equipments for telecom industry; (ii) providing O&M services for telecom towers, and annual maintenance of OFC and other ancillary services; and (iii) undertaking turnkey projects including erection of towers network, and OFC network.
Energy Business:
(i) Projects: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).
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, company undertakes rural electrification projects under engineering, procurement and construction (EPC) model; and
(ii) Products: Company manufactures and supplies 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 Business:
- Company offers customized surveillance systems, smart classrooms and smart kiosks for agricultural initiatives to the ICT sector.
Over the years company has transitioned from a manufacturer of equipment for the telecom industry to a multi-disciplinary solutions provider and our current offerings across our business verticals can be categorized as follows:
➢ Products – Company, through our Subsidiary i.e., Lineage, offer:
o 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
o Lithium-ion battery systems.
Company has recently through our Subsidiary i.e., Lineage, commenced manufacturing battery energy storage systems (BESS), which are systems that utilizes batteries to capture, store, and distribute electrical energy. These include: (i) liquid cooled battery energy storage containers; (ii) power conversion systems (PCS); and (iii) energy management system (EMS).
➢ Services provided by the Company:
o Installation and commissioning, and equipment upgradation of Telecom Infra equipments;
o Telecom Infra equipments AMC.
o Telecom Infra equipments life cycle management.
o O&M for the telecom sector (towers and OFC).
Projects – Company undertakes turnkey projects in:
o Telecom – Tower and OFC.
o Transmission, distribution and system integration.
o ICT, specifically, surveillance and education.
o Solarization of telecom towers.
o Solar panel installation.
Company’s Customers:
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 our customers, and we have developed strong long-term relationships with our customers.
Company’s Employees:
As on July 31, 2025, company had 1,513 permanent employees, of whom 19 were part of our dedicated research and development team. As on July 31, 2025, our R&D team comprises 19 people with engineering background.
Company’s Revenue from various Verticals:
Company’s Order Book from Public and Private Sector:
Company’s Installed Capacity & Capacity Utilization:
Company’s Key Operational Parameters:
Competition in the Business:
Company’s major competitors include Bondada Engineering Limited, Delta Electronics India Private Limited, Dinesh Engineers Limited and Exicom Tele-Systems Limited.
Management Team:
- Mr. Maddisetty Venugopal Rao (Designation: Chairman and Managing Director)
- Mrs. Padma Venugopal Maddisetty (Designation: Whole Time Director)
Objectives of the Issue:
Fresh Issue: (Rs.819.14 cr)
- Funding capital expenditure requirement for investment in our 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) (Capital Expenditure).
- General Corporate Purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Funding our Capital Expenditure requirement | 630 cr |
Positives for the Company:
Company is an end-to-end solutions provider with integrated operations in the telecom tower sector.
- Company provides end-to-end solutions with integrated operations in the telecom tower sector, ranging from manufacturing and supply of power management systems, project execution through EPC or turnkey mode, product life cycle management services, and O&M.
- Company commenced our business as a manufacturer of equipment product for the telecom tower sector. Over the years company has expanded the scope of our operations significantly and have transitioned to providing end-to-end offerings to telecom tower operators.
Diversified business segments with strong order book.
- Company’s initial operations were focused on manufacturing electrical equipments for the telecom industry, and over the years we have expanded our Telecom Infra operations to comprise products, projects, O&M, services and solutions.
- With the acquisition of the business of GE Power Electronics India and rights over the ‘Lineage Power’ brand in Fiscal 2014, we commenced ‘end to end’ manufacturing of direct current systems which are tailored for telecom tower companies and operators and has helped us enhance our market position in the energy management solutions.
- From Fiscal 2023, Company has backward integrated our supply of Telecom Infra products through our Subsidiary, Lineage for the projects that we undertake. We have also been undertaking projects for solarization of telecom towers (which comprises supply of solar modules and the related equipment to telecom towers, installation, commissioning and O&M) since Fiscal 2013.
Company, through Lineage, have recently commenced manufacturing battery energy storage system (BESS) and undertake projects and intend to grow these operations.
- According to CRISIL, lithium ion batteries’ have unique advantages such as high specific energy and high load capabilities with power cell and also provide the highest round-trip efficiency of 88-90%.
- Company offers lithium-ion battery systems as part of our Telecom Infra equipment products offerings, and we intend to focus on improving our market share in the Telecom Infra equipments market, in particular lithium-ion battery systems.
Deepen our existing products and services offerings and expand our geographical reach.
- Company intends to deepen our services for operations and maintenance of Telecom Towers and OFC particularly in geographies such as Maharashtra, Gujarat, Karnataka, North East and Jammu & Kashmir.
- Company also intends to enter into projects for supply and installation of solar pumps. Company has been recently awarded a project design, manufacture, supply, transport, installation, testing and commissioning of off-grid solar photovoltaic water pumping systems.
- Company also intends to target setting up a network of towers for the ‘KAVACH Project’. KAVACH is an automatic train protection (ATP) system indigenously developed by Indian Railways through Research Designs & Standards Organization (RDSO).
- Company also intends to expand our geographical reach by offering equipment for Telecom Towers and battery equipments in Kenya and other African markets, with Lineage supplying the Telecom Infra equipment and BESS.
Company intends to focus on improving our revenue from the energy sector.
- Company also intend to focus on improving our revenue from the energy sector. Company has been recently awarded a solar power project to generate, develop and supply electricity, with capacity (i.e., the installed capacity of the solar power project and energy storage systems to be set up of 100MW for the solar power project and 50 MW/ 100MWh for the energy storage systems), on a build own and operate model for a period of 25 years.
- Company also intends to backward integrate the manufacturing of solar modules and solar cells.
Financials of the Company:
| (in Crores) | FY 23 | FY 24 | FY 25 |
|---|---|---|---|
| Revenue | 514.65 | 2460.2 | 2462.2 |
| Net Profit | 16.5 | 229.8 | 279.1 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Pace Digitek Limited | 2 | 16.30 | 16.60 | 22.87% | 71.24 |
| HFCL Ltd | 1 | 1.23 | 60.07 | 4.35% | 28.28 |
| Exicom Tele-Systems ltd | 10 | (9.11) | NA | (17.93%) | 71.24 |
| Bondada Engineering Ltd | 2 | 10.28 | 37.76 | 25.05% | 41.24 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 26th September 2025 |
| Issue Closes on | 30th September 2025 |
| Issue Price | Rs.208-219 |
| Face Value | Rs.2 |
| Retail Category Allocation | 35% |
| Minimum Lot | 68 Shares |
| Minimum Investment | Rs.14,892 |
| Issue Constitutes | 17.68% |
| Issue Size | Rs.819.4 cr ($ 92 million) |
| Market Cap | Rs.4634 cr ($ 520 million ) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 3,74,19,178 (Rs.819 cr) |
| Equity Shares Prior to the Issue | 17,84,42,280 |
| Equity Shares after the Issue | 21,15,861,458 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 16.30 | 16.60 | 22.87% | 71.24 | 0.13 |
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Important Dates:
| Finalization of Basis of Allotment | on or Before 1st October 2025 |
| Initiation of Refunds | on or Before 3rd October 2025 |
| Credit of Equity Shares: | on or Before 3rd October 2025 |
| Listing Date: | on or Before 6th October 2025 |
| Company Contact Info: |
|---|
| Pace Digitek Ltd Plot # V 12, Industrial Estate, Kumbalgodu, Bengaluru Mysore Highway, Bengaluru, Karnataka – 560074 Tel: 080-29547792 Email:complianceofficer@pacedigitek.com Website: www.pacedigitek.com |
| Registrar to the Issue: |
|---|
| MUFG Intime India Private Limited C-101, 247 Park L B S Marg, Vikhroli (West), Mumbai, 400 083, Maharashtra, India. Tel: +91 810 811 4949 E-mail: pacedigitek.ipo@in.mpms.mufg.com Website: www.mpms.mufg.com |
| Check IPO Allotment Status: |
|---|
MUFG Link InTime Website (Click on the below Link)https://MUFG linkintime.co.in/IPO_Allotment_Check |
