Mumbai, March 27 -- The initial public offer (IPO) of Desco Infratech received bids for 11,45,12,000 shares as against 14,73,000 shares on offer. The issue was subscribed 77.74 times.

Retail investors bid for 3,47,27,000 shares, non-institutional investors bid for 6,86,85,000 shares and qualified institutional investors bid for 1,11,00,000 shares.

The issue opened for bidding on 24 March 2025, and it closed on 26 March 2025. The price band of the IPO was set at Rs 147 to Rs 150 per share. The equity shares will list on BSE's SME platform.

The IPO comprised a fresh issue of 20,50,000 shares. The promoter and promoter shareholding diluted to 58.12% from 79.29% pre-IPO.

The company intends to utilize the net proceeds for setting up a cor...