Desco Infratech IPO: Final day closed with a terrific subscription of 84 instances, allotment can be finalized on March 27 – INA NEWS

Desco Infratech Ipo: Infrastructure firm Desko Infratech’s public concern closed as we speak with an excellent subscription of 83.75 instances on 26 March. It was opened on 24 March. The corporate had deliberate to boost Rs 30.75 crore from this IPO. Solely 20.50 lakh new shares have been issued within the IPO. Reserve share for certified institutional consumers, 28.76 instances, reserve share for non -institutional buyers 233.26 instances and reserved share for retail buyers crammed 50.62 instances.

After the difficulty is closed, the allotment will now be finalized on 27 March. The itemizing of shares could also be on BSE SME on 1 April. The bid within the IPO was put in a worth band of Rs 147-150 per share and 1000 lot dimension. Good Horizon Capital Advisors E book Working Lead Supervisor for IPO. The Registrar BIGSHARE SERVICES is Non-public Restricted.

The main focus of Desco Infratech is principally on metropolis gasoline distribution, renewable power, water and energy sectors on engineering, planning and building. Promoters of the corporate are Indiraben Pruthaubhai Desai, Pankaj Putu Desai, Hina Pankaj Desai, Malhar P Desai and Samarth Pankaj Desai. The shares of Desco Infratech are buying and selling at a premium of Rs 12 or 8 p.c within the grey market.

Methods to use IPO cash

The corporate will use the cash obtained from the IPO for beginning a company workplace in Surat, Gujarat, procurement of equipment, assembly working capital wants and for basic company functions. 50 p.c of the IPO was reserved for certified institutional consumers, 35 p.c for retail buyers and 15 p.c for non -institutional buyers.

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Monetary standing of desco infratech

Desco Infratech’s income in FY 2024 stood at Rs 29.49 crore. It was Rs 29.28 crore in FY 2023. In FY 2024, the corporate’s internet revenue was recorded at Rs 3.46 crore, which was Rs 1.23 crore a yr in the past. In April-September 2024, income was Rs 22.75 crore, internet revenue was Rs 3.38 crore and borrowing Rs 6.82 crore.

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