Denta Water and Infra IPO Sees Overwhelming Response

NEW DELHI: The initial public offer (IPO) of Denta Water and Infra Solutions has witnessed an overwhelming response, with a 50.63 times subscription on the second day of bidding. This remarkable interest highlights the market's confidence in the company's future prospects.

The IPO received bids for 26,58,10,750 shares against the 52,50,000 shares on offer, indicating a robust demand across different investor categories. Non-institutional investors led the charge with 128.41 times subscriptions, followed by retail individual investors (RIIs) at 43.51 times, and qualified institutional buyers (QIBs) at 4.75 times.

Anchor Investment and Future Plans

Prior to the public subscription, Denta Water and Infra Solutions successfully raised over Rs 66 crore from anchor investors, setting a positive tone for the IPO. The company plans to utilize the proceeds from the IPO, amounting to Rs 220.5 crore at the upper price band, primarily for meeting working capital requirements and other general corporate purposes.

About Denta Water and Infra Solutions

Founded in 2016, Denta Water and Infra Solutions Ltd has quickly established itself as a significant player in water engineering, procurement, and construction (EPC) services. With 32 completed water management projects, including 11 as the main contractor, the company has demonstrated its capability and expertise in the sector. The shares of Denta Water and Infra Solutions are set to be listed on the BSE and NSE, marking a new chapter in its growth story.