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Denta Water IPO Oversubscribed by 221 Times

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By Rediff Money Desk, New Delhi   Jan 24, 2025 19:08

Denta Water and Infra Solutions Ltd's IPO received an overwhelming response, garnering 221.52 times subscription. The IPO, with a price band of Rs 279-294 per share, raised over Rs 66 crore from anchor investors.
Denta Water IPO Oversubscribed by 221 Times
New Delhi, Jan 24 (PTI) The initial share sale of Denta Water and Infra Solutions Ltd garnered 221.52 times subscriptions on the closing day of bidding on Friday.

The initial public offer got bids for 1,16,29,62,200 shares against 52,50,000 shares on offer, as per NSE data.

The quota for non-institutional investors bagged a massive 507.05 times subscription, while the Qualified Institutional Buyers (QIBs) portion subscribed 236.94 times. The portion for Retail Individual Investors (RIIs) garnered 90.33 times the subscription.

Denta Water and Infra Solutions on Tuesday said it has raised a little over Rs 66 crore from anchor investors.

The issue has a price band of Rs 279-294 per share.

The IPO is entirely a fresh issue of 75 lakh equity shares worth Rs 220.5 crore at the upper end of the price band.

Proceeds to the extent of Rs 150 crore will be utilised to meet working capital requirements, and a portion will be used for general corporate purposes.

Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services.

It has completed 32 water management projects, out of which 11 projects were undertaken as the main contractor, one project under a consortium/joint venture arrangement and 20 projects undertaken under a sub-contract arrangement with the main contractor.

The company's shares will be listed on the BSE and NSE.
Source: PTI
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