Pace Digitek secures SEBI approval for Rs 9 billion IPO to expand BESS portfolio

Pace Digitek, a Bengaluru-based telecom solutions provider, has reportedly received approval from the Securities and Exchange Board of India (SEBI) to raise up to Rs 9 billion through an initial public offering (IPO) this year. The funds will be used to strengthen its battery energy storage systems (BESS) portfolio. The company has aligned its growth strategy with the government’s renewable energy initiatives, positioning itself to tap into the rising demand for sustainable power solutions.