The initial public offering of Denta Water and Infra Solutions, valued at ₹220.50 crore, witnessed an exceptional response with a subscription rate of 221.52 times.
Priced at ₹279-294 per share, the IPO received bids for 116.30 crore shares against the available 52.50 lakh shares. The IPO consisted of a fresh issue of up to 75 lakh shares.
Non-institutional investors and retail investors subscribed 507.05 times and 90.34 times, respectively, while the Qualified Institutional Buyer Portion was subscribed 236.94 times.
Before the IPO, the company raised ₹66.15 crore from anchor investors by allocating 22.50 lakh shares at ₹294 per share. Anchor investors included Abakkus Diversified Alpha Fund-2, Persistent Growth Fund-Varsu India Growth Story Scheme 1, and others.
The company intends to use the net proceeds for working capital requirements and general corporate purposes. Denta Water and Infra Solutions specializes in designing, installing, and commissioning water management infrastructure projects, including groundwater recharge projects and operations and maintenance services. They also undertake construction projects on railways and highways.
SMC Capitals is the sole book-running lead manager for the IPO, and Integrated Registry Management Services Private Ltd is the registrar.
Published on January 24, 2025.
