Desco Infratech IPO: Check date, price band, lot size, objectives, and key details

Desco Infratech IPO will hit the primary market on Monday, March 24. The book-built issue will conclude on Wednesday, March 26. The price band has been fixed at ₹147 to ₹150 per share.

The ₹30.75 crore initial share sale is exclusively a fresh issuance of 20,50,000 equity shares.

The net proceeds will be used towards the following objects:

• Fund capital expenditure needs to set up a corporate office in Surat
• Fund capital expenditure requirement to purchase machinery
• Fund working capital requirements
• General corporate purposes

Desco Infratech IPO lot size

Retail investors can bid for at least 1,000 shares for a minimum investment of ₹1,47,000. High-net-worth individuals can apply for 2,000 shares worth ₹3,00,000.

The company is offering 50% of the net issue to qualified institutional buyers (QIBs), 35% to retail investors, and the remaining 15% to non-institutional investors.

Desco Infratech IPO: Allotment and listing date

Smart Horizon Capital Advisors Pvt Ltd is the IPO's book-running lead manager, while Bigshare Services Pvt Ltd is the registrar.

About the company

Desco Infratech offers infrastructure and maintenance services to city gas distribution networks in India. It is engaged in activities like pipeline laying, testing, installation and commissioning of piped natural gas (PNG) utilised by domestic and commercial users.

The company has also started providing services in the power segment, from installation to commissioning of low-tension (LT) and high-tension (HT) cables.

The company's promoters, Pankaj Pruthu Desai, Indiraben Pruthubhai Desai, Malhar P Desai, Hina Pankaj Desai and Samarth Pankaj Desai, presently hold a 79.29% stake, which will be reduced to 58.12% post-issue.