Denta Water and Infra Solutions is set to launch its initial public offering (IPO) today, with the subscription window closing on January 24. The IPO, valued at ₹220.50 crore, offers a price band of ₹279-294 per share and consists of 75,00,000 fresh equity shares with no offer-for-sale components.
Interested investors can bid for a minimum of 50 equity shares and in multiples of 50 thereafter. The IPO follows a book-building process, with up to 50% of the offer available for qualified institutional buyers, at least 15% for non-institutional investors, and a further 35% for retail investors.
Ahead of the IPO, Denta Water and Infra Solutions secured ₹66.15 crore from anchor investors by allocating 22.50 lakh shares at ₹294 each. Notable participants in the anchor round included both foreign and domestic institutions like Abakkus Diversified Alpha Fund-2, Persistent Growth Fund-Varsu India Growth Story Scheme 1, and others.
The company plans to utilize the net proceeds from the IPO for working capital requirements and general corporate purposes. Denta Water and Infra Solutions specializes in designing, installing, and commissioning water management infrastructure projects, particularly groundwater recharge projects. It also offers operations and maintenance services for ongoing projects and undertakes construction projects on railways and highways.
SMC Capitals is the sole book-running lead manager for the IPO, with Integrated Registry Management Services Private Ltd serving as the registrar for the issue. The IPO opening today marks an important milestone for Denta Water and Infra Solutions, providing an opportunity for investors to be part of its growth journey.
