Denta Water and Infra IPO subscribed 17.07 times on Day 1; Check GMP, subscription status, other details | Stock Market News

Denta Water and Infra Solutions Limited’s initial public offering (IPO), through a book-building process, offers an entire fresh issue of up to 75 lakh equity shares, which opened for subscription on January 22.

According to the BSE data, the IPO was subscribed 17.07 times on the first day as investors subscribed for 8,96,36,900 equity shares, compared to the 52,50,000 shares on offer. 

Denta Water and Infra IPO was subscribed the most at 36.23 times by the Non-Institutional Investors (NIIs) on the first day of the public issue. The retail investors followed the NII lead, coming in at 17.67 times compared to the shares on offer. The Qualified Institutional Investors (QIBs) subscribed to the IPO 1.67 times as of the end of the first day’s bidding round.

Denta Water and Infra IPO opened for subscription on Wednesday, January 22, and will close on Friday, January 24. The IPO price band has been fixed in the range of ₹279 to ₹294, with a lot size of 50 shares per lot. The public issue raised ₹66.15 crore from its anchor investors ahead of the public issue. 

Denta Water and Infra IPO GMP

As of January 22, the grey market premium (GMP) of the Denta Water and Infra public issue was at ₹150 per share. With the upper price band of the public issue at ₹294, the shares are expected to be listed at ₹444, a premium of 51.02 per cent, according to Investorgain data.

Grey market premium (GMP) is the investor’s willingness to pay more for a public issue. The IPO GMP dropped to ₹150 on January 22 from its previous level of ₹165 after the first bidding day.

Denta Water and Infra IPO Details

Denta Water and Infra Solutions Limited is a water and infrastructure solutions company that designs, installs, and commissions water management projects. It has expertise in groundwater recharging projects.

The company aims to use ₹150 crore raised from the public issue to meet its working capital requirements, and the remaining amount will be used for general corporate purposes, according to the RHP data.

The shares are expected to be listed on the stock market on Wednesday, January 29, 2025.

SMC Capitals Limited is the book-running lead manager of the public issue, while Integrated Registry Management Services Pvt. Ltd.

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