Diensten Tech
Book Building issueSME₹22.08 Cr issue
+140.00%
Listing gain over issue price
Issue size
₹22.08 Cr
1 lot at cut-off
₹1,20,000
Lot size
1,200shares
Open
26 Jun 2024
Close
28 Jun 2024
Allotment
01 Jul 2024
Listing
03 Jul 2024
Listing performance
Issue price
₹100
Listed at
₹240
Listing-day close
₹252
Latest price
₹124
Close on 23 Oct 2026
Listing gain
+140.00%
Return since issue
+24.00%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 26 Jun 2024 – 28 Jun 2024
- Listing date
- 03 Jul 2024
- Face value
- ₹10 per share
- Issue price
- ₹100 per share
- Lot size
- 1,200 shares
- Issue type
- Book Building issue
- Total issue size
- ₹22.08 Cr
- Promoter holding
- 95.50% → 69.97% pre-issue → post-issue
- ISIN
- INE0JRD01019
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Corporate Professionals Capital Pvt.Ltd.
- Registered office
- 7 th Floor, A-2, L.S.C., Masjid Moth, Greater Kailash-II, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 6,27,600 | — | — |
| Market maker | 1,10,400 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹100
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,20,000 |
| S-HNI (min) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (max) | 8 | 9,600 | ₹9,60,000 |
| B-HNI (min) | 9 | 10,800 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
6,27,600
Anchor portion
₹6.28 Cr
at ₹100 per share
Valuation and performance
Valuation at offer price
₹100 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 0.29 | — |
| P/E (×) | 344.83 | — |
Key performance indicators
Latest reported period
- Return on net worth
- −67.77%
- ROCE
- −20.74%
- Debt / equity
- 7.29
- PAT margin
- 0.43%
- NAV per share
- ₹4.19
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Diensten Tech
Diensten Tech Limited (formerly JKT Consulting Limited) was incorporated on March 6, 2007 and started as a consulting services company in SAP Software/SAP Training Centers and Domain Consulting Services. From FY 2014-15 onwards, the company shifted its business focus towards Information Technology Consultancy, Training, Software Sale, Software AMC and related services as its core business. In April 2022, the company entered into a Business Transfer Agreement with JK Technosoft Limited to acquire the Professional Services & Training business. The company generates revenue from IT professional resourcing, IT consultancy, IT training services, and software annual maintenance contracts (AMC).
Company Analysis
from RHPDiensten Tech Limited is an IT professional resourcing, consulting, training, and software services company operating across India with focus on the IT and BPM sectors.
Diensten Tech Limited (formerly JKT Consulting Limited) was incorporated on March 6, 2007 and started as a consulting services company in SAP Software/SAP Training Centers and Domain Consulting Services. From FY 2014-15 onwards, the company shifted its business focus towards Information Technology Consultancy, Training, Software Sale, Software AMC and related services as its core business. In April 2022, the company entered into a Business Transfer Agreement with JK Technosoft Limited to acquire the Professional Services & Training business. The company generates revenue from IT professional resourcing, IT consultancy, IT training services, and software annual maintenance contracts (AMC).
Information Technology (IT) Professional ServicesIT ConsultingIT TrainingSoftware ServicesBusiness Process Management (BPM)
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 ₹381.03 Lakh p.20
- Working Capital Requirement ₹1,176.97 Lakh p.20
- General Corporate Purposes p.20
- 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. ₹381.03 Lakh p.74
- Working Capital Requirements ₹1,176.97 Lakh p.74
- General Corporate Purposes [●] p.74
- Issue Expenses [●] p.74
- Funding capex for the acquisition and business integration of the Klaus IT Solutions and Skandha IT Services businesses ₹1,015.00 Lakhs p.182
Issue Structure
- Total Issue
- 22,08,000 Equity Shares of face value of Rs.10/- each aggregating to Rs.[●] Lakhs
- Fresh Issue
- 22,08,000 Equity Shares of face value of Rs.10/- each
- Offer for Sale
- Nil (Not Applicable, as the entire issue constitutes Fresh Issue of Equity Shares)
- Price Band
- Rs. [●] to Rs. [●] (Floor Price to Cap Price to be decided and advertised)
- Lot Size
- 1,200 Equity Shares (Bid Lot size)
- Face Value
- Rs. 10/- per Equity Share
Business Model
The company provides skilled IT professionals to clients for their project requirements, IT consulting services, training in IT domains, and software AMC services. Revenue is generated primarily from client engagement for staffing IT professionals and service delivery.
Business Segments
Provision of skilled IT professionals to complete client projects, staffing services for IT requirements
IT consulting services to clients
Training services in Information Technology domains
Software maintenance and support services on annual contract basis
Provides comprehensive IT professional resourcing, IT consultancy and Software AMC across industries including information technology services, banking and financial services, automotive and engineering, telecom, healthcare, retail and entertainment. Services include staff augmentation, payroll management, appraisals, separation, HR compliance management, and onboarding.
Provides technical and soft skills based training including ERP and business application trainings, behavioral/induction training, domain-specific training and deploy services, CSR implementation programs, disaster and safety management trainings, and learning solutions and education tourism.
Provides IT consultancy, professional resourcing, and domain consulting services
Provides corporate training, skill development, and learning modules for organizations
Provides Information Technology Consultancy, Training, Software Sale, Software AMC and related services
SWOT Analysis
Strengths
- • Focused IT services business model with established client base(p.20)
- • IT sector contributing significantly to India's GDP with growth trajectory(p.20)
- • Strong industry job creation momentum in IT staffing(p.20)
- • Acquired Professional Services & Training business for portfolio strengthening(p.20)
- • Diversified client base across industries(p.81)
- • Pan-India presence with scalable business model(p.81)
- • Quality-assured services with customer satisfaction focus(p.81)
- • Experienced management team with skilled professionals(p.81)
- • Long-standing client relationships and competitive advantage(p.110)
- • Differentiated service offering combining staffing and training(p.111)
- • Experienced management team with deep industry expertise(p.149)
- • Established corporate governance framework with independent directors and audit committees(p.134)
- • Strong promoter backing from established JK group with significant shareholding(p.151)
Weaknesses
- • Significant losses in nine months ended December 31, 2023(p.28)
- • High concentration of revenue among top 10 customers(p.30)
- • Outstanding legal proceedings against company, promoters and directors(p.29)
- • Heavy reliance on skilled IT professionals for business operations(p.30)
- • Negative cash flows from operations in recent periods(p.38)
- • Unsecured loans that can be recalled by lenders at any time(p.39)
- • Promoters hold majority control with significant conflicts of interest(p.34)
- • Significant operational losses and negative EBITDA in recent period(p.110)
- • High dependency on recently acquired professional services and training division(p.104)
- • Outstanding payment liability of Rs. 381.03 Lakh to related party(p.76)
- • Negative Return on Net Worth(p.82)
- • No insurance coverage for the company(p.112)
- • Significant accumulated losses and negative reserves(p.166)
- • Substantial increase in short-term and long-term borrowings(p.166)
- • High debt-to-equity ratio indicating financial stress(p.201)
- • Operating losses in the recent period(p.167)
- • Dependence on acquired PS&T business from related party JK Technosoft Limited(p.182)
- • Concentration of promoter shareholding with limited public float post-IPO(p.170)
- • High employee benefit expenses as percentage of revenue(p.208)
- • Significant dependence on few clients(p.212)
- • Recent operational losses and negative EBITDA(p.208)
- • Loss after tax in recent period(p.208)
- • Increased overhead costs from strategic changes(p.208)
- • Promoter litigation pending(p.215)
Opportunities
- • Expansion of IT services to new clients and markets(p.30)
- • Growing demand for IT professional staffing services in India(p.20)
- • Working capital optimization for business expansion(p.20)
- • Building brand recognition and market visibility for competitive advantage(p.40)
- • Expand customer base across India and new geographies(p.110)
- • Growing Indian IT and staffing industry demand(p.96)
- • Rising demand for flexible workforce solutions(p.107)
- • Expected growth in flexi-staffing employment(p.103)
- • Strengthening marketing network and brand building through listing(p.74)
- • Capacity for strategic expansion through business acquisitions(p.104)
- • Growth in IT professional resourcing and IT consultancy services market(p.204)
- • Expansion of corporate training and skills development services(p.204)
- • Leverage IPO proceeds to reduce debt and strengthen balance sheet(p.168)
- • Potential acquisition of additional business undertakings to scale operations(p.183)
- • Business expansion through acquisition integration(p.209)
- • Growth potential in IT services and training(p.209)
- • Market recovery post-industry slowdown(p.208)
Threats
- • Risk of customer termination and loss of business contracts(p.31)
- • Complex government regulations affecting IT services and employment(p.32)
- • Global economic downturn and slowdown affecting demand(p.39)
- • Business dependent on USA economic stability and policies(p.33)
- • IT industry slowdown and client hiring freezes(p.21)
- • High competition in IT services market(p.39)
- • Natural calamities and external disasters impacting operations(p.44)
- • Terrorist attacks and civil unrest affecting market and business(p.44)
- • Highly fragmented and competitive IT staffing industry(p.111)
- • Competition from large professional services outsourcing companies(p.111)
- • Dependence on economic cycles and IT professional market strength(p.107)
- • Rising unemployment rate affecting labor availability(p.100)
- • Global economic slowdown impacting demand for IT services(p.90)
- • Impact of geopolitical disruptions on global IT spending(p.90)
- • Volatility in IT services market and competition from larger players(p.205)
- • Dependence on customer concentration and contract renewals(p.181)
- • Related party transaction risks and conflict of interest(p.155)
- • Pending litigation against promoters(p.152)
- • Regulatory changes in IT staffing and training services sector(p.205)
- • Industry slowdown impacting client hiring and onboarding(p.208)
- • Uncertainty in labour cost dynamics(p.212)
- • Macroeconomic factors affecting business(p.212)
- • Competitive pressures in IT services(p.212)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| J. K. Traders Limited | Promoter | 41,15,792 shares (68.00%) | — |
| Mr. Abhishek Singhania | Promoter | 1 share (Negligible) | — |
| Mr. Vipul Prakash | Promoter | 8,32,239 shares (13.75%) | — |
| Ms. Tina Prakash | Promoter | 8,32,239 shares (13.75%) | — |
| JK Traders Limited | Promoter | 68.00% | 49.82% |
| Mr. Vipul Prakash | Promoter | 13.75% | 10.07% |
| Ms. Tina Prakash | Promoter | 13.75% | 10.07% |
| Mr. Abhishek Singhania | Promoter | Negligible | Negligible |
| J.K. Traders Limited | Promoter Group | 68.00% | — |
| Mr. Vipul Prakash | Individual Promoter/Chairman & Managing Director | 13.75% | — |
| Ms. Tina Prakash | Promoter | 13.75% | — |
| Mr. Abhishek Singhania | Promoter/Director | Negligible (1 share) | — |
| Abhishek Singhania | Promoter | — | — |
| Yadupati Singhania | Promoter | — | — |
Leadership
Mr. Abhishek Singhania · Director
Mr. Vipul Prakash · Managing Director
Mr. Siva Prasad Nanduri · CEO
Mr. Sumant Kuthiala · CFO
Ms. Vibha Wadhva · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Diensten Tech IPO FAQs
What is the lot size of Diensten Tech IPO?
The minimum lot size of Diensten Tech IPO is 1,200 shares. One lot costs ₹1,20,000 at the cut-off price.
When does Diensten Tech IPO open and close?
Diensten Tech IPO opened for subscription on 26 Jun 2024 and closed on 28 Jun 2024.
What is the listing date of Diensten Tech IPO?
Diensten Tech IPO listed on 03 Jul 2024.