Within hours of its launch, denta water and infra' initial public offering (IPO) was completely subscribed, indicating high demand on the first day of subscriptions on Wednesday, December 22.
Consolidated bid data on the National Stock Exchange (NSE) shows that over 4.85 crore shares were applied for by investors, while 52.50 lakh shares were up for bid.
Subscription across all categories
In contrast to the 26.25 lakh shares set aside for the category, the retail portion of the IPO was booked 10.67 times, with bids for over 2,80 crore shares.
The initial public offering (IPO) of the water management company was booked 16.21 times by non-institutional investors (NIIs). Out of the 11.25 lakh shares reserved for them, the NIIs applied for more than 1.82 crore shares.
A total of 23.39 lakh shares, summing up to 1.56 times of the issue, were bid on, out of the 15 lakh shares reserved for the Qualified Institutional Buyers (QIB) category.
GMP (Grey Market Price)
The shares of Denta Water and Infra IPO are now trading at their issue price of Rs 294, with a 56.12 per cent premium, according to the grey market premium (GMP) of Rs 165 suggesting that each share would be listed for Rs 459.
#dentawater and Infra Solutions Ltd. has launched its IPO today, with an aim to raise ₹220.50 Cr. Funds will be used to meet the working capital needs & for general corporate purposes.
— India IPO (@india_ipo1) January 22, 2025
If you're from the same sector & want funds, all you need to do is connect with #IndiaIPO. pic.twitter.com/0Wuoooh9Gj
Offer size and structure
There is no offer-for-sale (OFS) component to the mainboard IPO; only new 52.50 lakh shares are being issued. The public offer's bidding will close on January 24.
Price band and minimum bid
The price range for Denta Water's IPO is between Rs 279 and Rs 294 per share. The smallest lot size needed for an application is 50. A minimum investment of Rs 14,700 is required from retail investors.
The minimum lot size investment for sNII and bNII is 14 lots with 700 shares totaling Rs 2,05,800 and 69 lots with 3,450 shares totaling Rs 10,14,300, respectively.
Subscription and listing dates
Denta Water's initial public offering (IPO) subscription period runs from January 22, 2025, to January 24, 2025. The allocation for the Denta Water IPO is expected to be finalized on Monday, January 27, 2025.
The Denta Water initial public offering (IPO) is scheduled to go public on the BSE and NSE on Wednesday, January 29, 2025.
Registrar and book running lead manager
The issue's registrar is Integrated Registry Management Services Private, and SMC Capitals is the Denta Water IPO's book running lead manager.
About company
In terms of water management infrastructure development, as of October 31, 2023, the company had completed 27 projects. The company has finished road, bridge, and railway infrastructure projects totaling Rs 7.54 crore.