Denta Water and Infra Solutions Ltd Secures Rs 66 Crore Ahead of IPO

Denta Water and Infra Solutions Ltd has raised over Rs 66 crore from anchor investors as it prepares for its IPO. The company allocated shares at Rs 294 each and aims to raise Rs 220.5 crore. Proceeds will support working capital needs and corporate purposes.

Denta Water and Infra Solutions Ltd announced raising over Rs 66 crore from anchor investors in anticipation of its upcoming initial public offering (IPO). The company has allocated 22.5 lakh shares at Rs 294 per share, according to a circular from BSE.

The IPO is slated to open on January 22 and close on January 24, offering a fresh issuance of 75 lakh shares valued at Rs 220.5 crore at the upper price band. Proceeds from the IPO will contribute Rs 150 crore towards working capital and general corporate purposes.

Established in 2016, Denta Water and Infra Solutions Ltd is renowned for its expertise in water engineering, procurement, and construction services, having completed 32 significant projects. SMC Capitals is serving as the sole book-running lead manager for the issue.

(With inputs from agencies.)