Denta Water IPO Makes a Splash with 50.63x Subscription

Denta Water and Infra Solutions' IPO saw a remarkable 50.63 times subscription on the second day of bidding. With a price band set between Rs 279-294 per share, the company aims to raise Rs 220.5 crore for working capital and general corporate purposes. Listing is set for BSE and NSE.

Denta Water and Infra Solutions' initial public offering witnessed impressive demand, receiving 50.63 times subscription by the second day of bidding, as per NSE data. The IPO, entirely a fresh issue of stocks, consists of 75 lakh equity shares valued at Rs 220.5 crore at the top end of the price range.

Investors across segments showed strong interest. Non-institutional investors subscribed 128.41 times, retail individuals 43.51 times, and qualified institutional buyers (QIBs) 4.75 times. The company has previously raised over Rs 66 crore from anchor investors ahead of the IPO.

Denta Water, established in 2016, is a significant player in water engineering and construction, having completed numerous projects. The proceeds from this IPO are earmarked for working capital needs and general corporate purposes, with shares to be listed on BSE and NSE.

(With inputs from agencies.)