Denta Water IPO: Issue subscribed nearly 34 times on day 2 so far; check lot size and key dates

Denta Water and Infra IPO: Water and infrastructure solutions company Denta Water and Infra Solutions' initial public offer has been subscribed nearly 34 times so far on Thursday, the second day of bidding.

The initial share sale has received bids for 17,80,78,900 shares as against 52,50,000 shares on offer, leading to a 33.92 times subscription until 1:26 pm, according to the NSE data.

The category for non-institutional investors (NII) fetched 75.82 times subscription. They placed bids for 8,52,94,400 shares as against 11,25,000 shares on offer.

The retail individual investors (RIIs) part got subscribed 33.03 times, as they submitted applications for 8,66,92,050 shares compared to 26,25,000 shares reserved.

The portion for qualified institutional buyers (QIBs) received 4.06 times subscription as they bid for 60,92,450 shares compared to 15,00,000 shares set aside for the investor category.

The initial share sale, with a price range of ₹279 to ₹294 per share, will end on January 24.

The ₹220.50 crore IPO is solely a fresh issuance of 75 lakh equity shares. There is no offer-for-sale component.

Funds to the tune of ₹150 crore will be used for working capital requirements and a part will be used for corporate general purposes.

Denta Water and Infra Solutions IPO lot size

Investors can apply for a minimum of 50 shares aggregating to ₹14,700.

Before the IPO, the company had raised ₹66.15 crore from anchor investors, including Rajasthan Global Securities, Abakkus Diversified Alpha Fund-2, Finavenue Capital Trust, Saint Capital Fund, Steptrade Revolution Fund, Astorne Capital VCC -- Arven and Aarth AIF, and Chhatisgarh Investments Ltd.

Denta Water and Infra Solutions IPO: Allotment and listing date

• Subscription period: January 22 to January 24
• Basis of allotment: January 27
• Refund initiation: January 28
• Credit of shares to Demat: January 28
• Listing on NSE and BSE: January 29

Denta Water and Infra Solutions Ltd, incorporated in 2016, offers water engineering, procurement, and construction (EPC) services and specialises in groundwater recharging via recycled water and lift irrigation systems.