Desco Infratech IPO closes today; subscription soars 15x; GMP up 12%

Desco Infratech IPO subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Desco Infratech is set to conclude today, March 26, 2025. The SME offering, which opened for subscription on Monday, March 24, 2025, has received a favorable response from investors, with the issue being subscribed to by nearly 18.55 times till around 12:10 PM on Wednesday, March 26, 2025, according to the data available on BSE.

 

The highest demand from the SME offering has come from the Non-Institutional Investors, who have over-subscribed the category reserved for them by 34.24 times. This is followed by the retail investors at 19.41 times and Qualified Institutional Buyers (QIBs) at 98 per cent.

 

Desco Infratech IPO details

The Desco Infratech IPO, valued at around ₹30.75 crore, comprised an entirely fresh issue of 2.05 million equity shares, with no offer for sale (OFS) component.

 

The public offering is available at ₹150 per share, with a lot size of 1,000 shares. A retail investor can bid for a minimum of 1,000 shares and in multiples thereof, requiring a minimum investment amount of ₹1,50,000. A Net-worth Individual (HNI) would require a minimum of ₹3,00,000 to bid for a minimum of two lots of 2,000 equity shares.  Read More: Identixweb IPO opens today; check lot size, price band, GMP, key dates

 

Desco Infratech IPO grey market premium (GMP)

The unlisted shares of Desco Infratech were trading at around ₹168 apiece, a grey market premium (GMP) of ₹18 or 12 per cent over the issue price of ₹150 apiece, according to sources tracking unofficial market activities.

 

Desco Infratech IPO allotment date, listing date

Once the subscription window concludes, the basis of allotment for Desco Infratech IPO shares is likely to be finalised on Thursday, March 27, 2025. The successful allottees will receive the company's shares in their demat accounts by Friday, March 28, 2025.

 

Desco Infratech shares are slated to list on the BSE SME, tentatively on Tuesday, April 1, 2025.

 

Desco Infratech IPO objective

Desco Infratech proposes to utilise the proceeds from the public offering for funding capital expenditure requirements towards setting up a corporate office in Surat, Gujarat. The company also intends to use the IPO proceeds for funding capital expenditure requirements towards the purchase of machinery and working capital requirements of the company, as well as for general corporate purposes.  Check: Rapid Fleet IPO Allotment Status

 

Desco Infratech registrar, lead manager

Bigshare Services is the registrar, while Smart Horizon Capital Advisors acts as the sole book-running lead manager for the offering.

 

About Desco Infratech

Desco Infratech provides infrastructure and maintenance services to city gas distribution divisions in India. The company is engaged in activities such as pipeline laying, installation, testing, erection, and commissioning for Piped Natural Gas (PNG) utilized by both domestic and commercial users. The company's Operation and Maintenance services (“O&M Services”) encompass both underground and above-ground gas pipeline work for carbon steel and MDPE pipelines. The company has recently begun offering services in the power division, focusing on the installation, connectivity, commissioning, and erection of Low Tension (LT) and High Tension (HT) cables.