Desco Infratech: Desco Infratech shares get listed at 7% premium!Desco Infratech: Desco Infratech shares get listed at 7% premium!

Desco Infratech made a positive debut on BSE SME today, opening at ₹160, a 6.67% increase from its issue price of ₹150. The company’s IPO was open for subscriptions from March 24 to March 26.

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The Desco Infratech IPO had a price band of ₹147 to ₹150 per share, with a ₹10 face value. Investors could bid for a minimum of 1,000 shares. The IPO was oversubscribed 83.75 times on its final day of bidding.

Desco Infratech Limited, established in January 2011, specializes in infrastructure with a focus on Engineering, Planning, and Construction. The company operates in key sectors including City Gas Distribution, Renewable Energy, Water, and Power, offering comprehensive solutions across these industries.

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The objective of Desco Infratech’s IPO is to raise funds for expanding its infrastructure projects, enhancing working capital, and supporting its operations in sectors like City Gas Distribution, Renewable Energy, and Power.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.