Diensten Tech makes powerful debut, lists with 140% premium on NSE SME

Founded in 2007, it offers IT services including professional resourcing, consulting, training, and software AMC services.

Shares of Diensten Tech made a bumper start to its stock market debut after listing at Rs 240, a massive premium of 140 percent over the issue price of Rs 100 on July 03 on the NSE SME platform.

The listing gains top miss grey market estimates as shares were trading at a premium of 70 percent, data showed. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.

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The Rs 22.08-crore public offer, a fresh issuance of shares, saw active investor interest over three days as it was subscribed 54 times. High net-worth individuals or NIIs led from the front, buying 155 times the portion reserved for them. Retail investors bought 35.87 times their allowed quota while qualified institutional buyers (QIBs) purchased almost 10 times.

Founded in 2007, it offers IT services including professional resourcing, consulting, training, and software AMC services. The company's services cater to industries such as information technology, banking and finance, automotive and engineering, telecommunications, healthcare, retail, and entertainment.

The objectives of the issue are to pay off the liability from the outstanding payment for the business acquired from J K Technosoft Limited, as per the Business Transfer Agreement dated April 30, 2022. Additionally, the funds will be used to meet the company's working capital requirements, cover general corporate purposes, and pay the issue expenses.

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