Diensten Tech IPO closes today: Check subscription status and GMP now

Service Tech IPO: IT services company Diensten Tech's initial public offering (IPO) closes today, Friday, but investor response has been lukewarm so far. By 10.15am on Friday, the last day of bidding, the IPO was subscribed 4.98 times against the 1,580,400 shares on offer, attracting 70,872,000 shares, according to the latest NSE data.

The Rs 220.8 crore IPO was opened for public subscription on Wednesday. Allotment for Diensten Tech's IPO will be finalised on July 1 and the listing will take place on the NSE SME on July 3.

The price band was fixed at Rs 95 to Rs 100 per share.

Investors will need to apply for a minimum of 1,200 shares or multiples thereof, so the minimum investment by an individual investor will be Rs 120,000 (1,200 (lot size) x Rs 100 (upper price band)).

Service Tech IPO GMP Today

According to market observers, the unlisted shares of Diensten Tech Ltd are currently trading at a GMP of zero, which means that the market is not expecting any benefits from the listing on July 3. Importantly, the GMP is based on market sentiment and will continue to change.

A “gray market premium” indicates that investors are willing to pay more than the issue price.

Diensten Tech IPO: Details

Diensten Tech IPO is a fresh issue of 2.208 million shares. The price band for Diensten Tech IPO has been set at Rs 95-100 per share. The minimum lot size for application is 1,200 shares. The minimum investment required for retail investors is Rs 120,000. The minimum lot size investment for HNIs is 2 lots (2,400 shares), i.e. Rs 240,000.

Diensten Tech Limited (formerly known as JKT Consulting Limited) was established in 2007 and provides Information Technology (IT) professional resourcing, IT consulting, IT training and software AMC services.

Corporate Professionals Capital Private Ltd is the book-running lead manager for the Diensten Tech IPO and Kfin Technologies Limited is the registrar for the issue. The market maker for the Diensten Tech IPO is Share India Securities.