Denta Water IPO is a book-built issue that is designed to raise Rs 220.50 crore from the market. It seems to have triggered a lot of enthusiasm among investors — it got fully subscribed within minutes of the bidding process beginning on Wednesday, January 22. It ended the first day of bidding with 17.29% subscription overall, while the retail portion was subscribed 18.02 times, the sNII 42.61 times and the bNII segment attracted 33.29 times subscription.
The company management could mop up Rs 66 crore from anchor investors on January 21, a day before the bidding process began. The allotment of shares of the company is scheduled on January 27. The listing is scheduled on BSE and NSE on January 29. Refund of bid money to unsuccessful bidders will take place on January 28, while shares will be credited to the demat account of successful bidders will take place on the same day. Denta Water and Infra Solutions — which is in the business of providing water and infrastructure solutions — was set up in 2016.
Denta Water IPO GMP
According to investorgain, on the morning of Thursday, January 23, Denta Water IPO GMP (Grey Market Premium) stood at Rs 150. Considering an issue price of Rs 294, the listing price of Denta Water IPO could be Rs 444, which would fetch a listing gain of 51.02%. However, it came down from a level of Rs 165 which was recorded on January 21. One must remember that GMP is an unofficial indicator that can change with time and does not guarantee anything — listing gain or loss.
Denta Water IPO price, lot, allotment date
The price band for an equity share of Denta Water and Infra Solutions (that’s the full name of the company) has been set at Rs 279-294. The minimum number of shares that a retail investor has to bid for is 50 and it will cost him/her Rs 14,700. sNII investors have to bid for a minimum of 700 shares (or 14 lots), which will need an application money of Rs 2,05,800. For the bNII category of investors, the minimum lot is 3,450 shares that will call for an application amount of Rs 10,14,300. SMC Capitals is the book running lead manager, while Integrated Registry Management Services is the registrar for the issue.
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The Rs 220.50-crore Denta Water IPO got fully subscribed within minutes of the bidding process beginning on Wednesday, January 22. It ended the first day of bidding with 17.29% subscription overall. Before the bidding started the management of the company successfully mopped up Rs 66 crore from anchor investors. The bidding window of Denta water IPO will close on January 24 and allotment will take place on January 27, while the refund of application money to unsuccessful bidders will be returned on January 28. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
