New Delhi, April 1 (HS): Desco Infratech, a company focused on engineering and construction in the City Gas Distribution, Renewable Energy, Water, and Power sectors, made history by being the first to list on the BSE's SME platform in the financial year 2025-26. On its debut, shares were priced at ₹150, opening at ₹160—representing a 6.67% premium.Buoyed by investor support, the price surged to ₹168 shortly after, allowing IPO investors to realize a first-day profit of 12%.

The company's IPO, totaling ₹30.75 crore, was open for subscription from March 24 to 26 and garnered an overwhelming response, with an overall subscription rate of 83.75 times, including 28.76 times for Qualified Institutional Buyers (QIB), 233.26 times for Non-Institutional Investors (NII), and 50.62 times for retail investors. A total of 20.50 lakh new shares with a face value of ₹10 were issued. The funds will be utilized for establishing a corporate office in Surat, purchasing machinery, meeting working capital needs, and general corporate expenses.

Financially, Desco Infratech demonstrated growth, with a net profit of ₹3.46 crore for 2023-24, up from ₹83 lakh the previous year, and revenue of ₹29.49 crore, indicating a compound annual growth rate of over 21%.

Hindusthan Samachar / Jun Sarkar