Desco Infratech makes positive debut; shares list at ₹160 on BSE SME

Desco Infratech shares listed at ₹160 per share on the BSE SME, up over 6 per cent from the issue price of ₹150 per share

Desco Infratech IPO listing:  Shares of infrastructure company Desco Infratech made a positive debut on the BSE SME on Tuesday, April 1, 2025. The company's stock listed at ₹160 per share on the BSE SME, up over 6 per cent from the issue price of ₹150 per share.

 

The listing of Desco Infratech was above the grey market estimates. Ahead of the listing, unlisted shares of Desco Infratech were trading at Rs 155.5 per share in the grey market, according to the sources tracking unofficial markets. 

 

Desco Infratech IPO details

Desco Infratech IPO was a book-built issue of ₹30.75 crore, comprising an entirely fresh issue of 2.05 million equity shares with no offer for sale (OFS) component.  Ahead of the IPO, the company raised ₹8.65 crore from anchor investors. It allocated 0.57 million equity shares to anchor investors, at ₹150 each, the upper end of the price band. 

 

 

Desco Infratech was available for subscription from Monday, March 24, 2025, till Wednesday, March 26, 2025, at a price band of ₹147-150 per share, with a lot size of 1,000 shares. 

 

The SME IPO received an overwhelming response from investors, with the issue being oversubscribed by 77.74 times. The non-institutional investors led the demand and oversubscribed the portion reserved for them by 171.28 times.  Retail investors subscribed for 50.63 times the reserved quota and qualified institutional buyers (QIBs) 20.76 times. 

 

The basis of allotment of company's shares was finalised on friday, March 28, 2025. The company has set ₹ 150 per share as the issue price.  

 

According to the red herring prospectus (RHP), the company aims to utilise the net proceeds from the issue 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 for the purchase of machinery, working capital requirements and general corporate purposes.

 

Bigshare Services is the registrar of the issue, while Smart Horizon Capital Advisors is the sole book-running lead manager. 

Check: Identixweb IPO Allotment Status

 

About Desco Infratech

Incorporated in January 2011, Desco Infratech provides infrastructure and maintenance services to city gas distribution divisions in India. It is engaged in activities such as pipeline laying, installation, testing, erection and commissioning for Piped Natural Gas (PNG) utilised by both domestic and commercial users. The company is also involved in power distribution, water distribution, renewable energy and solar energy sectors.

 

In FY24, Desco Infratech posted a total revenue of ₹29.49 crore, marginally up from ₹29.28 crore in the fiscal year 2023. The company’s PAT stood at ₹3.45 crore in FY24, up 181 per cent from ₹1.22 crore in fiscal 2023.