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Denta Water and Infra gets fully subscribed within minutes of opening for bidding

Updated on: 22 January, 2025 03:45 PM IST | Mumbai

Bespoke Stories Studio | bespokestories@mid-day.com

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The initial public offer of water and infrastructure solutions company Denta Water and Infra Solutions got fully subscribed within minutes of opening for bidding on Wednesday. The initial share sale received bids for 91,64,450 shares against 52.50 lakh shares on offer, according to data available with the NSE till 1046 hrs.

The portion for Non Institutional Investors (NIIs) fetched 2.6 times subscription, while the category for Retail Individual Investors (RIIs) got subscribed 2.38 times.

Denta Water and Infra Solutions on Tuesday said it has raised a little over Rs 66 crore from anchor investors. The issue, with a price band of Rs 279-294 per share, will conclude for public subscription on January 24. The IPO is entirely a fresh issue of 75 lakh equity shares worth Rs 220.5 crore at the upper end of the price band. Proceeds to the extent of Rs 150 crore will be utilised for meeting working capital requirements and a portion will be used for general corporate purpose.

Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services. It has completed 32 water management projects out of which 11 projects were undertaken as the main contractor, 1 project under a consortium/joint venture arrangement and 20 projects undertaken under a sub-contract arrangement with the main contractor. The company's shares will be listed on the BSE and NSE.

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