Denta Water and Infra IPO Day 3: Issue subscribed more than 90x so far, QIB share booked 10 times
The initial public offering (IPO) of Denta Water received a lot of interest from investors, registering 92.18 times in the first hours of its opening from 12:00, Friday (25 January 2025), according to the latest data from the BSE. The initial share sale saw bids for 48,68,88,050 shares against 52,50,000 shares on offer.
The portion reserved for retail investors was subscribed 63.35 times, while the share of non-institutional investors was subscribed 270.64 times. The category of qualified institutional buyers (QIBs) was booked 10.74 times. The company opened its bidding window on January 22, 2025, seeking to raise Rs 220.5 crore through a fresh issue of 0.75 crore equity shares. The price band of the issue is set at Rs 279 to Rs 294 per share, investors are required to apply for a minimum amount of 50 shares, worth Rs 14,700.
Denta Water and Infra IPO: Day 1 and 2 subscription status
On the second day of registration, the IPO had already received a massive subscription of 50.63 times, with bids for 26,58,10,750 shares against 52,50,000 shares on offer. Non-institutional investors led the demand, their share was registered 128.41 times. Retail individual investors (RIIs) showed strong interest, with their share subscribing 43.51 times. The share allocated to qualified institutional buyers (QIBs) was subscribed 4.75 times. On the first day, QIBs subscribed 1.67 times, while non-institutional investors subscribed 36.4 times in total, retail investors contributed 18.02 times the total amount.
Denta and Infra Water: Allocation and Inventory
On January 27, 2025, the IPO share will take place, and the shares are expected to be listed on the NSE and BSE on January 29, 2025. The registrar of the IPO is Integrated Registry Management Services Pvt Ltd, while SMC Capitals Pvt Ltd is acting as book . -Running lead manager (BRLM).
Here’s what analysts recommend
Buyers remain optimistic about the IPO, recommending that investors subscribe to it because of the company’s financial health, fair valuation, and strong order book.
SBI Securities highlighted the potential for growth in the Indian water and wastewater treatment market, projecting a CAGR of 6.2 percent from CY24E to CY30E. Anand Rathi also endorsed the IPO’s long-term benefits, citing the company’s expertise and strong pipeline of projects.
About Denta Water and Infra
Denta Water and Infra Solutions, founded in 2016, is a key player in the field of water engineering, procurement, and construction (EPC) services. The company has completed 32 water management projects, including 11 as prime contractors. It intends to use the proceeds of the IPO primarily to meet working capital needs, with a portion allocated for general corporate purposes.
