 "Denta Water and Infra IPO Day 2: Check subscription status; GMP slips today")
Denta Water and Infra IPO: The initial public offer (IPO) of Denta Water and Infra Solutions Limited, which opened for public subscription on Wednesday, January 22, 2025, has received a stellar response so far on its second day of subscription. The IPO, a book-built issue, is valued at Rs 220.5 crore and is an entirely fresh issue of 7.5 million shares. The IPO price band is set at Rs 279 to Rs 294 per share.
Denta Water IPO subscription status: Day 2
Around 10:28 AM on January 23, the public offer was oversubscribed 22.57 times, receiving bids for 11,85,11,100 shares as compared to the 52,50,000 shares on offer, as per data from the National Stock Exchange (NSE).
Non Institutional Investors (NIIs) showed the most interest and oversubscribed to their portion by 50.12 times with a bid of 5,63,88,150 shares, followed by Retail Individual Investors (RIIs) oversubscribing to their portion by 22.69 times with a bid of 5,95,66,750 shares, and Qualified Institutional Buyers(QIBs) oversubscribed their portion by 1.7 times, bidding only 25,56,200 shares.
On Day 1 of the subscription, Denta Water IPO closed with an oversubscription of 17-times.
Denta Water IPO GMP
The strong response to the Denta Water and Infra IPO is also reflected in the grey market, where the company’s unlisted shares are trading at Rs 444 apiece. This indicates a premium of Rs 150 or 51.02 per cent over the upper end of the IPO price band at Rs 294, according to sources tracking unofficial markets.
The GMP, however, has slipped from a peak of Rs 165 per share, seen until Wednesday.
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Denta Water and Infra IPO details
The Denta Water and Infra IPO will remain open for subscription until Friday, January 24, 2025. Investors can apply for a minimum of 50 shares at Rs 14,700 per lot.
The basis of allotment for Denta Water and Infra IPO shares is tentatively scheduled to be finalised on Monday, January 27, 2025, while shares are expected to be credited to successful bidders’ demat accounts by Tuesday, January 28, 2025.
Denta Water IPO: Should you bid?
At the upper price band of Rs 294, Denta is available at a P/E of 16.2 (FY25 Annualised), which is at a discount compared to its listed peers. The company's focus on water management projects and growing market opportunities present significant prospects for the company's future growth.
"With a robust order pipeline and consistent financial performance featuring industry-leading margins, the company is set for future success. We recommend subscribing to this issue for short- to medium-term investment," said analysts at Geojit Financial Services.
About Denta Water and Infra Ltd
Denta Water and Infra shares are likely to list on the BSE and NSE on Wednesday, January 29, 2025.
Denta Water and Infra Solutions Limited is a growing water and infrastructure solutions company engaged in designing, installing, and commissioning water management infrastructure projects with expertise in groundwater recharge projects. The company has experience in water engineering and EPC services, the company specializes in infrastructure projects, including groundwater recharging through recycled water, addressing growing water solution demands. Denta Water has successfully executed major projects like Byrapura, Hiremagaluru LIS, and KC Valley, contributing to Bengaluru's wastewater management and supporting the Government's Jal Jeevan Mission.