Denta Water's IPO Makes Waves with Rapid Full Subscription

Denta Water and Infra Solutions' IPO quickly reached full subscription, generating strong interest from investors. The IPO included 75 lakh shares and raised over Rs 66 crore from anchors. Proceeds aim to cover working capital and general corporate expenses. Listings are planned on BSE and NSE.

The initial public offering (IPO) of Denta Water and Infra Solutions captured investors' interest, achieving full subscription just minutes after opening on Wednesday. According to NSE data, bids for 91,64,450 shares were recorded against an available 52.50 lakh shares by 10:46 AM.

The IPO saw robust demand across various investor categories, with Non-Institutional Investors (NIIs) oversubscribing their portion by 2.6 times, while Retail Individual Investors (RIIs) subscribed 2.38 times. Denta Water had earlier raised over Rs 66 crore from anchor investors ahead of the IPO launch on Tuesday.

Priced between Rs 279-294 per share, the IPO will close on January 24. This fresh issue comprises 75 lakh equity shares worth Rs 220.5 crore, with Rs 150 crore designated for working capital. Founded in 2016, Denta Water is a notable entity in the water engineering EPC sector. Its shares will list on BSE and NSE.

(With inputs from agencies.)