Diensten Tech Limited IPO bidding starts from Wednesday, June 26 and ends on Friday, June 28. The IPO is a book-built issue of Rs. 22.08 crore. The issue is entirely fresh issue of 22.08 lakh equity shares. Price range of the issue is set to ₹95 to ₹100 per equity shares with a face value of ₹10 each. The allocation of Anchor Investors was held today, June 25. The issue shall be listed on NSE SME with tempting date fixed as Wednesday, July 3, 2024.
The minimum lot size of the issue is 1200 equity shares and in multiples thereof. The minimum amount of investments required for retail is ₹1,20,000. The minimum bid size for HNI’s is 2 lots, aggregating to ₹2,40,000. The company has reserved 10.48 lakh shares in the issue for QIB’s, 3.15 lakh shares for NII’s, 1.10 lakh shares for Market Maker Portion and 7.34 lakh shares for Retails.
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Corporate Professionals Capital Private Limited is book-running lead manager. ICICI Bank Limited is sponsor bank of the issue. KFin Technologies Limited is registrar of the IPO.
Financials
| Particulars | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 26.08 | 37.52 | 0.72 |
| PAT | -1.71 | 0.16 | 0.01 |
| PAT Margin | -6.58% | 0.43% | 2% |
| Net Cash Flow | -10.81 | -2.09 | 0.14 |
| Borrowings | 18.47 | 2.80 | – |
The company has a total borrowings of Rs. 18.47 crores, out of which Rs. 8.32 crores is short-term borrowings and Rs. 10.15 crores is long-term borrowings.
Risk Factors
- The Company has incurred Losses during the nine months period ended on December 31, 2023.
- There are outstanding legal proceedings involving the Company, Promoters and Directors. Any adverse decision in such proceeding may have a material adverse effect on it’s business, results of operations and financial condition.
- The Company’s top 10 customers contribute approximately 88% of it’s revenues for the financial period ended December 31, 2023.
Objects of the Issue
- Payment of liability raised against outstanding payment of consideration for “Professional Services and Training Division” business acquired from J K Technosoft Limited, vide Business Transfer Agreement Dated April 30, 2022.
- To meet out the working capital requirements of the company;
- To meet out the General Corporate Purpose; and
- To meet out the Issue Expenses.
About Diensten Tech Limited
Diensten Tech Limited, founded in 2007, is an IT Service Organization. The company having focus on Professional Services, Corporate Training including eLearning Digital Content Solutions and Managed Services to provide business benefits to their customers. Diensten Tech Limited is subsidiary of JK Traders Limited which is holding 68% of shareholding of the company.
