Denta Water and Infra Solutions Marks Strong Market Debut

Shares of Denta Water and Infra Solutions Ltd closed with nearly an 18% premium against the issue price. The company's IPO was oversubscribed 221.52 times. Denta is a notable player in water EPC services, using funds to meet working capital needs and corporate purposes.

Shares of Denta Water and Infra Solutions Ltd surged on their debut, closing nearly 18% higher than the issue price of Rs 294.

The stock opened at Rs 330 on the BSE, ending at the upper circuit limit of Rs 346.45, marking a 17.84% rise. On the NSE, the stock opened at Rs 325 and concluded at Rs 341.25, showing a 16% increase.

The company's market cap was Rs 925.02 crore, with significant trading volume reported on both exchanges. The IPO, priced between Rs 279-294, was a fresh issue of 75 lakh shares, garnering 221.52 times subscriptions. Denta, a 2016-founded firm specializing in water management projects, will use Rs 150 crore from proceeds for working capital and other corporate needs.

(With inputs from agencies.)