Denta Water and Infra Solutions IPO Makes Waves with 17x Subscription

Denta Water and Infra Solutions' IPO was fully subscribed within minutes and achieved a 17.02 times subscription by day's end. The company plans to use Rs 150 crore of the proceeds for working capital. Shares will be listed on the BSE and NSE after meeting significant investor demand.

Denta Water and Infra Solutions' initial public offering (IPO) saw overwhelming demand, closing Wednesday with an impressive 17.02 times subscription. The IPO was fully subscribed within minutes, signaling strong investor interest in the company's growth potential in water and infrastructure solutions.

The details show that Non-Institutional Investors bid 36.19 times, while Retail Individual Investors (RIIs) subscribed 17.58 times. Qualified Institutional Buyers (QIBs) also showed interest with a 1.67 times subscription. The company secured over Rs 66 crore from anchor investors, underpinning the IPO at a price band of Rs 279-294 per share.

With a fresh issue of 75 lakh shares valued at Rs 220.5 crore, Denta Water plans to allocate Rs 150 crore towards working capital needs and corporate purposes. Founded in 2016, the company has completed 32 water management projects, reinforcing its position in the water engineering sector. Denta Water's shares are set to list on the BSE and NSE, marking a significant milestone.

(With inputs from agencies.)