Denta Water IPO booked 17 times on first day; check subscription, price band and other key details

The initial public offering of water management infrastructure services provider Denta Water and Infra Solutions Ltd saw a huge demand on the first day of bidding on Wednesday, January 22. The mainboard issue was fully subscribed within hours of launch led by the retail and non-institutional investors.

The ₹220.5-crore IPO received bids for more than 8.93 crore shares against 52.5 lakh shares on offer, leading to an overall subscription of 17.02 times on the first day of bidding.

As per the data available with the stock exchanges, the IPO received bids for more than 4.07 crore shares from Non-Intuitional Investors (NIIs) compared to the allocation of 11.25 lakh shares. The NIIs subscribed their quota 36.19 times. The retail portion of the IPO was subscribed 17.58 times, with bids for over 4.61 crore shares against 26.25 lakh shares on offer.

The Qualified Institutional Buyers (QIBs) submitted applications for over 25.07 lakh shares against 15 lakh shares set aside for the category. The QIBs segment was booked 1.67 times.

The company in the pre-bid round on Tuesday garnered ₹66 crore from anchor investors. The company allotted 22.5 lakh equity shares at a price of ₹294 per share to 10 fund schemes.

The mainboard issue is open for subscription till January 24. Here are the key details about the Denta Water IPO for the investors interested in participating in the bidding.

Denta Water IPO price band, offer size and other details

Denta Water IPO comprises solely a fresh issue of 75 lakh equity shares. The company has set a price band of ₹279 to ₹294 per share for the IPO. The minimum lot size for the retail investors is 50 shares. The retail applicants need to apply for at least a single lot size, amounting to a minimum investment of ₹14,700.

SMC Capitals is the book-running lead manager of the IPO. Integrated Registry Management Services is the registrar of the mainboard issue.

Denta Water IPO dates

The company will finalise the IPO share allotment status on January 27, following the subscription. Refunds will be initiated for the non-allottees on January 28 and the successful bidders will receive the shares in their Demat accounts the same day.

The tentative listing date for the IPO has been fixed as January 29. Shares of Denta Water and Infra Solutions Ltd will be listed both on the NSE and BSE.

Denta Water and Infra Solutions IPO objects

Denta Water and Infra Solutions Ltd is one of the leading players in the water engineering, procurement, and construction (EPC) services sector.

The company is engaged in the design, installation and commissioning of water management infrastructure projects. It has expertise in groundwater recharge projects. The company also undertakes construction projects in railways and highways segments.

The company has proposed to utilise ₹150 crore from the IPO proceeds to meet the company’s working capital requirements in FY25 and FY26.

Denta Water and Infra Solutions Ltd reported revenue from operations of ₹97.78 crore for six months ended September 2024 in the current financial year. Its net profit stood at ₹24.1 crore for the period under review.

The company reported a net profit of ₹59.72 crore for the financial year ended on March 31, 2024, against ₹50.11 crore in the preceding financial year. Its revenue stood at ₹238.59 crore in FY24 against ₹174.32 crore in FY23.