Water and infrastructure solutions company Denta Water and Infra Solutions has raised Rs 66.15 crore from 10 institutional investors via anchor book on January 21, a day before the IPO opening.
The maiden public issue will open for subscription on January 22 and close on January 24.
The company intends to mobilise Rs 220.5 crore via initial public offering of 75 lakh shares at a price of Rs 294 per share (the upper end of price band of Rs 279-294 per share). The IPO consists of solely fresh issue by the company.
"...has finalised allocation of 22.5 lakh shares to anchor investors at a price of Rs 294 per equity share," the water engineering and EPC services provider said in its filing to the exchanges.
Ace investor Sunil Singhania's Abakkus Diversified Alpha Fund-2 was the largest investor in the anchor book, acquiring 3.4 lakh shares worth Rs 10 crore, followed by Persistent Growth Fund and Rajasthan Global Securities which picked 3.23 lakh shares worth Rs 9.5 crore each.
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Other institutional investors invested in the company included Saint Capital Fund, Finavenue Capital Trust, Chhatisgarh Investments, Steptrade Revolution Fund, Mint Focussed Growth Fund, Astorne Capital, and Aarth AIF.
Denta Water and Infra Solutions is going to use these IPO proceeds for working capital requirements, and general corporate purposes.
SMC Capitals is acting as the book running lead manager to the issue.
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