Denta Water IPO: Files Papers with Sebi for Rs 150 Crore Issue

New Delhi, Dec 13 (PTI) Denta Water and Infra Solutions Ltd, a player in the field of water engineering, procurement, and construction (EPC) services, has filed preliminary papers with market regulator Sebi to raise funds through an initial public offering (IPO).

The initial share sale is entirely a fresh issue of up to 75 lakh equity shares with no offer for sale (OFS) component, a draft red herring prospectus (DRHP) filed with Sebi showed on Wednesday.

Proceeds from the fresh issue to the tune of Rs 150 crore will be used to meet working capital requirements.

For fiscal 2022–23, the Bengaluru-based company's revenue from operations increased 46 per cent to Rs 174.32 crore against Rs 119.57 crore in 2021–22. Profit after tax rose by 30.71 per cent to Rs 50.11 crore from Rs 38.34 crore a year ago.

SMC Capitals Limited is the sole book-running lead manager of the IPO. The equity shares are proposed to be listed on the BSE and NSE.