• Source:JND
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Denta Water And Infra IPO: The initial public offerings (IPO) of Denta Water and Infra Solutions fully subscribed within an hour after it opened for subscription at 10:00 am today i.e. January 22. According to NSE, the initial share sale was subscribed 3.06 times, getting bids for 1,60,59,050 shares against 52,50,000 issued shares till 11:00 am. 

The shares reserved for retail individual investors subscribed 4.09 times, while the Non-Institutional Investors (NIIs) Quota received 4.72 times the bid. However,  the Qualified Institutional Buyers segment did not get any bids against the issue shares till the above-mentioned time. 

Denta Water & Infra Solutions raised over Rs 66 crore from anchor investors on Tuesday, a day before the IPO opened. The public issue will close for public subscription on January 24, with a price band of Rs 279-294 per share.

Amid heavy subscriptions, the GMP of Denta Water And Infra IPO is indicating a strong listing of shares on stock exchanges. 

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Denta Water IPO GMP

The grey market premium of Denta Water and Infra Solutions stood at Rs 165 per share today. According to investorgain.com, the shares of Denta Water were trading at Rs 459.0 per share, up 56.12% against the upper band of the IPO price of Rs 294.0 per share in the unofficial market. 

About IPO

The IPO is a fresh issue of 75 lakh equity shares aggregating to Rs 220.5 crore, at the higher end of the price band. Up to Rs 150 crore of the proceeds will be used to meet working capital requirements and a portion will be used for general corporate purposes.

Established in 2016, Denta Water & Infra Solutions Ltd has played a significant role in the water engineering, procurement and construction (EPC) services space.

It has completed 32 water management projects, of which 11 projects were undertaken as the main contractor, 1 project under a consortium/joint venture arrangement and 20 projects under a sub-contract arrangement with the main contractor.

The company's shares will be listed on BSE and NSE.

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