Denta Water And Infra IPO Opens For Subscription, Check GMP, Price Band Here

The offering is made up entirely of a fresh issuance of 7.5 million shares. The issue has been priced in the range of Rs 279 to Rs 294 per share.

On the first day of subscription, in half an hour of the bidding window, the IPO was completely subscribed by investors.

Source : Fisdom

Denta Water and Infra Solutions opened its initial public offering (IPO) for subscription on Wednesday. The bidding window for the company’s maiden issue will remain open from January 22 to 24, 2025. 

The issue is a book-built IPO and plans to raise Rs 220.5 crore. The offering is made up entirely of a fresh issuance of 7.5 million shares. The issue has been priced in the range of Rs 279 to Rs 294 per share. Investors will be able to place bids for a minimum of 50 shares and in multiples of thereafter.

Prior to the IPO, the company raised over Rs 66 crore from anchor investors. The anchor round saw participation from foreign and domestic institutions including Finavenue Capital Trust, Saint Capital Fund, Rajasthan Global Securities, Abakkus Diversified Alpha Fund-2, Astorne Capital VCC - Arven and Aarth AIF, Chhattisgarh Investments Ltd, and Steptrade Revolution Fund.

On the first day of subscription, in half an hour of the bidding window, the IPO was completely subscribed by investors.

About Denta Water And Infra

Established in 2016, the company has finished 32 water management infrastructure projects for the Government of Karnataka. The company deals in designing, installing, and commissioning water management infrastructure projects and focuses majorlyb on groundwater recharging initiatives. The firm provides operations and maintenance services for these projects and also takes construction projects related to railways and highways.

Denta Water IPO GMP

The firm’s shares are commanding a strong premium of Rs 160 to 165 apiece, reflecting a grey market premium of 54.42 per cent against the issue price. The grey market runs parallel to the official stock market and allows investors to place bets for an issue before it officially starts trading. The grey market premium indicates the confidence investors have in the listing to perform well on its trading debut.