Denta Water and Infra IPO closes with 221 times subscription, driven by NII, QIB demand; check latest GMP

Denta Water and Infra IPO subscribed 221 times.

Denta Water and Infra Solutions IPO concluded on Friday on high demand from the Qualified Institutional Buyers(QIBs) and Non Institutional Investors (NII) segment.

The initial public offer of Denta Water and Infra Solutions Ltd. received 221.52 times subscription on the concluding day of bidding on Friday. The initial share sale received bids for over 116 crore shares against 52.50 lakh shares on offer, , according to data available with the NSE.

The portion for non-institutional investors fetched 507.05 times subscriptions, while the category for retail individual investors (RIIs) got subscribed 90.33 times. The quota for qualified institutional buyers (QIBs) received 236.94 times the subscription. Earlier, it raised a little over Rs 66 crore from anchor investors.

The issue had a price band of Rs 279-294 per share.

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Denta Water and Infra IPO GMP Today

According to market observers tracking the grey market premium activities, the shares of the company are commanding a GMP of around 40 percent. Investorgain quoted a GMP of Rs 110 in the unofficial market, indicating a potential listing gain of 37.41 percent.

Proceeds to the extent of Rs 150 crore will be utilised for meeting working capital requirements, and a portion will be used for general corporate purposes.

Denta Water and Infra Solutions IPO will be listed on the BSE and National Stock Exchange (NSE) on 29th January, while the allotment is likely to be declared by 27th January.

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