Denta Water's IPO Makes Waves with 221.52x Subscription

Denta Water and Infra Solutions Ltd's initial share sale saw overwhelming demand, with 221.52 times subscriptions. The IPO raised over Rs 66 crore from anchor investors. Proceeds will go towards working capital and corporate purposes. The company excels in water EPC services.

Denta Water and Infra Solutions Ltd's initial public offering experienced an overwhelming response, receiving 221.52 times more subscriptions than available shares.

According to NSE data, the IPO received bids for 1,16,29,62,200 shares against an offer of 52,50,000 shares on the final bidding day. The non-institutional investors' quota was subscribed a staggering 507.05 times, while the Qualified Institutional Buyers' portion reached 236.94 times. Retail Individual Investors committed to 90.33 times the available shares.

The IPO is entirely a fresh issue of 75 lakh equity shares, priced between Rs 279-294 each, potentially raising Rs 220.5 crore. The funds will primarily support working capital needs and corporate purposes. The company's shares will feature on BSE and NSE.

(With inputs from agencies.)