Denta Water IPO GMP: Today (January 24) is the last chance to apply for Denta Water and Infra Solutions Limited IPO. The premium of Water Management Infra in the gray market is indicating good profits on listing. The IPO was open for applications on Wednesday (January 22). Interested investors can apply for the public issue till today (January 24).
The company plans to raise Rs 220.50 crore through IPO. For this, the price band has been fixed between Rs 279 to Rs 294 per share. This IPO is a completely fresh issue of 75,00,000 equity shares. The public issue will be listed on BSE and NSE on January 29. The gray market premium or GMP of Denta Water is trading at Rs 137 on Friday (January 24).
Denta Water IPO: Subscription status
Denta Water’s IPO opened for subscription on Wednesday, January 22. The IPO has received a strong response from investors and has been applied for more than 50 times so far. Non-institutional investors (NIIs) have subscribed the public issue a maximum of 129 times. Apart from this, retail category has been subscribed 44 times and QIB category 4.75 times.
Denta Water IPO: Price Band
Denta Water and Infra Solutions has fixed the price band for the IPO between Rs 279 and Rs 294 per share. The minimum lot size for IPO is 50 shares. Investors can bid for a minimum of 50 shares and multiples thereof. The minimum investment amount required for retail investors is Rs 14,700.
Denta Water IPO: When will the listing happen?
The allotment of Denta Water shares is expected to be finalized on Monday, January 27. Investors who will get shares will receive them in their demat accounts by Tuesday, January 28. Denta Water will be listed on BSE and NSE on Wednesday, January 29.
Denta Water IPO: Subscribe or not
Considering the company’s expertise in water management infrastructure and the increasing demand for ground water recharge projects in the coming years, brokerage firm Bajaj Broking has advised investors to subscribe to the IPO of Denta Water from a long term perspective.
According to the brokerage, Denta Water & Infra Solutions Ltd (DWISL) is a leading player in water engineering, procurement and construction (EPC) services. This company specializes in recharging groundwater with recycled water.
Denta Water’s work portfolio
This company, which provides water management infrastructure solutions, has completed 27 projects related to water management by October 2023. As of October 2023, the company has 22 ongoing projects with a total contract value of Rs 984.23 crore. Of this, Rs 976.7 crore is for water management projects and Rs 7.54 crore is for infrastructure projects like rail and road. Of the total contract price, the company has completed work worth Rs 211.3 crore and the remaining order book is Rs 772.94 crore.