Denta Water and Infra Listing: Shares debut at 12% premium over issue price
Denta Water's initial public offering (IPO), valued at Rs 220.50 crore, was open for subscription from January 22 to January 24.
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Shares of Denta Water and Infra Solutions Ltd. were listed at a premium of more than 12 per cent compared to their issue price of Rs 294 on Wednesday, 29 January. The stock debuted at Rs 330 on the BSE, marking a 12.24 per cent increase from the issue price. It later climbed further, surging 17.84 per cent to reach Rs 346.45. On the NSE, the stock opened at Rs 325, reflecting a 10.54 per cent rise. The company's market valuation reached Rs 925.02 crore.
Denta Water's initial public offering (IPO), valued at Rs 220.50 crore, was open for subscription from January 22 to January 24. The IPO price band was fixed at Rs 279-294 per equity share.
Denta Water IPO subscription
Denta Water IPO saw an overwhelming response, closing with a staggering 221.54 times subscription after three days of bidding. Investors placed bids for 116.31 crore shares against the 52.5 lakh shares available. The retail investor portion was subscribed 90.38 times, while the non-institutional investors (NII) segment witnessed a massive 507.07 times booking. Meanwhile, the Qualified Institutional Buyers (QIB) category recorded 236.94 times subscription during the bidding period.
About Denta Water and Infra Solutions
Established in 2016, Denta Water and Infra Solutions specialises in the design, installation, and commissioning of water management infrastructure projects. The company has a strong focus on groundwater recharge and has successfully executed several major projects, including Byrapura, Hiremagaluru LIS, and KC Valley. In addition to its core operations, Denta Water owns 98 acres of land in Madikeri, Karnataka, where it cultivates coffee, pepper, and cardamom.
The proceeds from the IPO will primarily be utilised for working capital requirements and general corporate purposes, enabling the company to expand its operations and strengthen its market presence.
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