Indian defense supplier Data Patterns nears $100-mn IPO filing: Report

Data Patterns is seeking a valuation of around 25 billion rupees ($340 million) in the IPO, and is looking to sell an equal number of primary and secondary shares, the people said

Data Patterns (India) Pvt, which supplies electronic systems to the defense and aerospace sector, is preparing to file its draft prospectus for an initial public offering that could raise at least $100 million, according to people familiar with the matter.

The Chennai-based company, backed by former Blackstone Inc. senior fund manager Mathew Cyriac, plans to lodge the listing documents with the Indian securities regulator as soon as next week, the people said. The firm intends to list in Mumbai this year, said one of the people, who asked not to be identified as the information is private. 

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