Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Diensten Tech, previously known as JKT Consulting, offers IT professional resourcing, IT consulting, IT training, and software AMC services.
The company's IPO received a strong response, issuing only new shares.
Let's explore the company's business health and the utilization of the funds raised through the IPO.
Diensten Tech shares made a remarkable debut on the NSE SME platform. The IPO, priced at Rs 100 per share, opened at Rs 240, yielding a 140% listing gain for investors.
The shares surged to the upper circuit of Rs 252, resulting in a 152% profit for IPO investors.
Diensten Tech's Rs 22.08 crore IPO was open for subscription from March 26-28, receiving an overwhelming response with an overall subscription of 53.94 times.
The portion reserved for qualified institutional buyers (QIB) was filled 9.60 times, non-institutional investors (NII) subscribed 154.99 times, and retail investors subscribed 35.87 times.
The IPO included 22.08 lakh new shares with a face value of Rs 10. The raised funds will be used for debt repayment, working capital requirements, general corporate purposes, and IPO-related expenses.
Established in 2007, Diensten Tech provides a range of IT services. Financially, the company saw a net profit of Rs 1.17 crore in FY 2021, which decreased to Rs 1.45 lakh in FY 2022 and Rs 16.06 lakh in FY 2023.
Revenue grew at a compound annual growth rate (CAGR) of over 167%, reaching Rs 37.60 crore. In FY 2023-24, the company reported a net loss of Rs 1.71 crore and revenue of Rs 26.21 crore for April-December 2023.
Chat on WhatsApp
Request a call back
