The allotment of shares in the initial public offering (IPO) of Gujarat-based Desco Infratech Ltd. is slated to be finalised on Thursday, Mar. 27 following a stellar subscription process. Desco Infratech IPO was subscribed nearly 84 times by the close of bidding. The SME issue saw an overwhelming response from non-institutional investors (NIIs), who oversubscribed their quota 233 times. Retail investors followed with a 50.46-times subscription, while qualified institutional buyers (QIBs) booked their allocation 28.76 times.

Overall, investors placed bids for 11.44 crore shares in comparison to 13.66 lakh shares on offer. 

Established in 2011, Desco Infratech Ltd. provides infrastructure services in City Gas Distribution (CGD), renewable energy, water supply, and power systems. The company has delivered more than 200,000 piped natural gas connections and operates in over 55 cities across 14 states of India.

Desco Infratech IPO consisted entirely of a fresh issue of 20.50 lakh shares including allocation for anchor investors and market makers. At a price band of Rs 147 and Rs 150 apiece, the BSE SME offer is valued at Rs 30.75 crore at the upper band.

With the subscription window closed, all eyes are now on the share allotment in the Desco Infratech IPO. Shares of Desco Infratech are proposed to be listed on the BSE SME platform on Apr. 1.

Investors who participated in the Desco Infratech Ltd. IPO can check their allotment status, once it’s finalised, on the official website of the issue’s registrar, Bigshare Services, or the BSE website.

How To Check Desco Infratech IPO Allotment Status On Bigshare Services And BSE Website?

Steps To Check Desco Infratech IPO Allotment Status On BSE:

  • Visit the IPO allotment page on the BSE website – 

  • https://www.bseindia.com/static/investors/application_statuschecksystem.aspx

  • Select ‘Equity’ under the issue type.

  • From the issue name dropdown menu, choose ‘Desco Infratech Ltd.’.

  • Enter the PAN or Application number.

  • Tick the ‘I’m not a robot’ captcha.

  • Click the Search option to check your IPO allotment details.

Steps To Check Desco Infratech IPO Allotment Status On Bigshare Services:

  • Go to – https://www.bigshareonline.com/ipo_allotment.html

  • Choose one of the three servers available to verify your IPO allotment status.

  • Select the company name –Desco Infratech Ltd.– from the dropdown menu of the IPO allotment status page. 

  • Enter the investor details, such as PAN or Application/CAF Number  or DP/Client ID.

  • Verify Captcha details.

  • Click on the search button to verify your allotment status in Desco Infratech IPO.

Desco Infratech IPO GMP Today

The latest grey market premium on Desco Infratech IPO stood at Rs 12 on Mar. 27. According to InvestorGain, shares of the company were likely to list at Rs 162, marking a premium of 8% over the issue price, if the current GMP trends are sustained. 

Note: GMP does not present official data and is based on speculation. 

Use Of Proceeds:

The net proceeds from the IPO will be used by Desco Infratech for various purposes including setting up corporate offices, purchasing machinery, and funding working capital requirements. A part of the money raised via the IPO will be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The latest grey market premium on the Desco Infratech IPO stood at Rs 12, indicating a possible listing gain of 8%.  Read MoreIPOs, Markets, Trending 

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