Shares of Denta Water and Infra Solutions will be listed today. The company has fixed the IPO price at ₹294, at the upper end of the price band ₹279-294. According to GMP, the stock is expected to list with a premium of about ₹60-75.

The ₹220.50-crore initial public offering of Denta Water and Infra Solutions saw an overwhelming response, and was subscribed 221.52 times. The IPO was entirely a fresh issue of up to 75 lakh shares. Non-institutional investors and retail investor portions were subscribed 507.05 times and 90.34 times, respectively, and the Qualified Institutional Buyer Portion was subscribed 236.94 times. 

The company has garnered ₹66.15 crore from anchor investors ahead of its initial public offering. The company informed the bourses that it allocated 22.50 lakh shares to anchor investors at ₹294 a share.

Foreign and domestic Iinstitutions that participated in the anchor included Abakkus Diversified Alpha Fund-2, Persistent Growth Fund-Varsu India Growth Story Scheme 1, Rajasthan Global Securities Private Ltd, Saint Capital Fund, Finavenue Capital Trust—Finavenue Growth Fund, Chhatisgarh Investments Ltd, Steptrade Revolution Fund, Mint Focused Growth Fund PCC—Cell 1, Astorne Capital VCC—Arven, and Aarth AIF.

The company proposes to utilise the net proceeds towards working capital requirements and general corporate purposes.

The company designs, installs, and commissions water management infrastructure projects, with expertise in groundwater recharge projects. It also provides operations and maintenance services for projects (typically lasting 3- 5 years). Additionally, the company undertakes construction projects on railways and highways.

SMC Capitals was the sole book-running lead manager, and Integrated Registry Management Services Private Ltd was the issue’s registrar.

Published on January 29, 2025