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The scrip was listed at Rs 240, a premium of 140% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.
The counter hit a high of Rs 252 and a low of Rs 240. About 8.74 lakh shares of the company changed hands at the counter.
Diensten Tech's IPO was subscribed 35.96 times. The issue opened for bidding on 26 June 2024 and it closed on 28 June 2024. The price band of the IPO was fixed at Rs 95 to 100 per equity share. The IPO comprised fresh issue of 22,08,000 equity shares.
The company intends to utilise the net proceeds to meet the working capital requirements, payment of liability raised against outstanding payment of consideration for professional services and training division business acquired from JK technosoft and for general corporate purpose.
Ahead of the IPO, Diensten Tech on 25 June 2024, raised Rs 6.27 crore from anchor investors. The board allotted 6.27 lakh shares at Rs 100 per share to 2 anchor investor.
Diensten Tech is engaged into the business of Information Technology (IT), professional resourcing, IT consultancy, IT training and software AMC. The company is a next-generation IT consultancy service provider that helps enterprises reimaging their businesses for the digital age. It provides technical consultancy, training, software services and other services to large corporates of the country, multinational companies, small and medium enterprises of diversified sectors. As of December 31, 2023, the company has 458 employees.
The company recorded revenue from operations of Rs 26.08 crore and net loss of Rs 1.71 crore for the nine month ended on 31 December 2023.
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