Denta Water and Infra IPO Day 3: Issue subscribed 221.52x, check GMP

New Delhi: The initial public offer of water and infrastructure solutions company Denta Water and Infra Solutions has been subscribed 221.52x on the final day of subscription today, at 17:15 IST, as per BSE data.

Denta Water and Infra IPO day 3 subscription

The initial share sale received the bid for 1,16,29,62,200 shares against 52,50,000 shares on offer, according to BSE.

The portion for retail investors received 90.33x subscriptions while the quota for non-institutional investors got subscribed 507.05x. The qualified institutional buyers (QIBs) part is booked 236.94x, suggesting strong demand.

Denta Water and Infra IPO day 3 GMP update

Denta Water was fetching a premium of almost 38.44% in the grey market. This indicated that the stock might list around a price of Rs 407. The grey market is an unofficial place to trade shares ahead of listing. Market participants keep a watch on GMP to track listing gains.

The issue, with a price band of Rs 279-294 per share, concluded for public subscription on January 24.

Denta Water and Infra IPO objectives

The IPO is entirely a fresh issue of 75 lakh equity shares worth Rs 220.5 crore at the upper end of the price band.

Proceeds to the extent of Rs 150 crore will be utilised for meeting working capital requirements and a portion will be used for general corporate purposes.

Denta Water and Infra IPO allotment date

The allotment of shares is expected to be finalised on January 27.

Denta Water and Infra IPO listing date

The company's shares will be listed on the BSE and NSE on January 29.

Denta Water and Infra IPO allotment status

SMC Capitals is the book-running lead manager of the Denta Water IPO, while Integrated Registry Management Services is the registrar for the issue.

About Denta Water and Infra IPO

Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services.

It has completed 32 water management projects out of which 11 projects were undertaken as the main contractor, one project under a consortium/joint venture arrangement and 20 projects undertaken under a sub-contract arrangement with the main contractor.