The IPO of Denta Water ended on Friday, January 24, with a strong subscription, driven primarily by non-institutional investors (NIIs). The company is anticipated to finalize the IPO share allotment status on Monday, January 27th, following the successful subscription.
75 lakh new equity shares were issued as part of the Rs 220.5-crore IPO, and bidding began on January 22. The mainboard IPO saw an overall subscription of 221.52 times, with bids for over 116.29 crore shares against the 52.5 lakh shares available.
Subscription across all categories
Over 23.71 crore shares in the retail category were bid on during the water management infrastructure services provider’s initial public offering (IPO), out of the 26.25 lakh shares that were available. 90.33 times reservations were made for the retail section.
A subscription of 507.05 times occurred in the category as a result of the NIIS applying for more than 57.04 crore shares, compared to the 11.25 lakh shares reserved for them.
Out of the 15 lakh shares set aside for the segment, over 35.54 crore shares were applied for by Qualified Institutional Buyers (QIBs). Almost 237 times, the QIBs booked their quota.
Grey market premium (GMP)
According to the grey market premium (GMP) of Rs 120, which indicates that each share would be listed for Rs 414, the shares of Denta Water and Infra IPO are currently trading at their issue price of Rs 294 with a 40.82 per cent premium.
Offer size and structure
Only new 52.50 lakh shares are being issued as part of the mainboard IPO; there is no offer-for-sale (OFS) component. The bidding for the public offer will end on January 24.
Price band and minimum bid
Denta Water’s initial public offering (IPO) is priced between Rs 279 and Rs 294 per share. 50 is the minimum lot size required for an application. Retail investors must make a minimum investment of Rs 14,700.
For both sNII and bNII, the minimum lot size investment is 14 lots with 700 shares, totaling Rs 2,05,800, and 69 lots with 3,450 shares, totaling Rs 10,14,300.
Listing and subscription timeline
The Denta Water initial public offering (IPO) is scheduled to go public on the BSE and NSE on Wednesday, January 29, 2025.
The subscription period for Denta Water’s initial public offering (IPO) is set for January 22, 2025, through January 24, 2025. On Monday, January 27, 2025, the allocation for the Denta Water IPO is anticipated to be finalized.
About company
As of October 31, 2023, the organization had finished 27 projects related to the development of water management infrastructure. A total of Rs 7.54 crore in road, bridge, and railway infrastructure projects have been completed by the company.
