Denta Water and Infra Rs 220-cr IPO subscribed 17x on Day 1; GMP soars

Denta Water and Infra IPO fully subscribed within 20 minutes of opening; GMP soars

Denta Water and Infra IPO got fully subscribed within minutes of opening for bidding on January 22 in the primary market. Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services.

The initial public offer of water and infrastructure solutions company Denta Water and Infra Solutions IPO got booked 17.02 times on Day 1, according to data available with the NSE. The initial share sale received bids for 8.93 crore shares against 52.50 lakh shares on offer.

The portion for Non Institutional Investors (NIIs) fetched 36.19 times subscription, while the category for Retail Individual Investors (RIIs) got subscribed 17.58 times. Qualified Institutional Buyers(QIBs) part got booked 1.67 times.

Earlier, the company raised a little over Rs 66 crore from anchor investors. The issue, with a price band of Rs 279-294 per share, will conclude for public subscription on January 24.

The IPO is entirely a fresh issue of 75 lakh equity shares worth Rs 220.5 crore at the upper end of the price band.

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 purpose.

Denta Water and Infra IPO GMP Today Price

According to market observers tracking the grey market premium activities, the shares of Denta Water and Infra IPO are commanding a GMP of around 56 percent in the unregulated market. Investorgain quoted a GMP of Rs 165 in the unofficial market, indicating a potential listing gain of 56.12 percent.

Denta Water and Infra IPO shares will be listed on the BSE and NSE on 29th January, while the allotment is likely to take place on 27th January.

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