Diensten Tech IPO: SME IPO subscribed over 53 times on last day of issue, NIIs steal the show; Check latest GMP

Diensten Tech IPO: The initial public offering (IPO) of the small and medium-sized enterprise (SME) Diensten Tech Limited was subscribed over 53 times by the end of the third and final day of bidding, according to stock exchange data. The SME IPO of the information technology (IT) services provider opened for subscription on Wednesday, June 26, 2024 and closed today, June 28, 2024.

Diensten Tech IPO offers a total of 2,208,000 shares. The Noida-based company had reserved 734,400 equity shares or 33.26 per cent to retail investors, 315,600 shares or 14.29 per cent for the non-institutional investors (NIIs), and 420,000 shares or 19.02 per cent for qualified institutional buyers (QIBs) in the issue. 627,600 equity shares or 28.42 per cent are also set aside for anchor investors.

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Diensten Tech IPO Subscription Status:

On Friday, Diensten Tech IPO was subscribed 53.94 times. NIIs bid the highest as the portion reserved for them was subscribed 154.99 times, while the portion reserved for retail investors was booked 35.87 times. The QIB portion was subscribed 9.60 times on June 28. The SME IPO received 7,92,90,000 share applications against offered 14,70,000 shares on Friday.

Diensten Tech IPO opened for subscription on Wednesday, June 26 and was subscribed 1.07 times on the first day of issue with the QIB portion left unbooked. On the second day of bidding, Diensten Tech IPO was subscribed 3.71 times. On June 27, NIIs had bid the highest while QIBs again did not open bids, according to Chittorgarh.com.

Diensten Tech IPO Details:

Diensten Tech IPO is a book built issue of ₹22.08 crore. The issue is entirely a fresh issue of 22.08 lakh shares. The price band was set at ₹95 to ₹100 per share. The minimum lot size for an application is 1,200 shares, which means investors could bid for a minimum of 1,200 shares and in multiples thereof.

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Diensten Tech IPO closed for subscription today and the allotment is expected to be finalized on Monday, July 1, 2024. Diensten Tech IPO will list on NSE SME with tentative listing date fixed as Wednesday, July 3, 2024.

J. K. Traders Limited, Abhishek Singhania, Vipul Prakash, and Tina Prakash are the promoters of the company. Corporate Professionals Capital Private Ltd is the book running lead manager, while Kfin Technologies Limited is the registrar for the issue. The market maker for Diensten Tech IPO is Share India Securities.

The company aims to use the proceeds of the IPO to pay the liability raised against the outstanding payment of consideration for the"professional services and training division" business acquired from J K Technosoft Limited. It will also utilise funds to meet the working capital requirements of the company, issue expenses, and general corporate purposes.

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Diensten Tech Ltd Company Details:

Formerly known as JKT Consulting Limited, Diensten Tech Ltd was founded in 2007 and provides IT professional resourcing, IT consulting, IT training and software AMC services. The company's list of services includes:

IT support and consulting services: Diensten Tech Ltd provides comprehensive IT professional resourcing, IT consulting, and software AMC services in various industries, namely information technology, banking and finance, automotive and engineering, telecommunications, healthcare, retail and entertainment.

Corporate training services: Diensten Tech Ltd offers both technical and soft skills-based training services. These include ERP and business application training, behavioral training, induction/onboarding training, domain-specific training, training and deployment, CSR implementation programs, disaster and safety management training, learning solutions, and educational tourism.

Diensten Tech Ltd's revenue increased by 4813.51 per cent, and the profit after tax (PAT) rose by 1,007.59 per cent between the financial year ending with March 31, 2023 and March 31, 2022.

Diensten Tech IPO GMP Today:

Diensten Tech GMP today, or grey market premium, is ₹30 per share, according to stock market observers. This indicates that the equity shares of Diensten Tech are trading at ₹130 apiece in the grey market, a premium of 30 per cent to the IPO price of ₹100 per share.