Denta Water and Infra IPO Subscribed 207 Times on Day 3
The Initial Public Offering (IPO) of Denta Water and Infra Solutions has seen remarkable investor interest, with the issue being subscribed 207.07 times by the end of its third and final day. The IPO, which opened for subscription on January 22 and closed on January 24, aims to raise ₹220.50 crore to support the company's water management projects and infrastructure services.
By the second day of bidding, the IPO had already achieved a subscription rate of 50.63 times. The overwhelming response from investors across different categories highlights strong market confidence in the company.
Subscription Details
Here’s a breakdown of the subscription rates across different investor categories:
- Non-Institutional Investors (NII): The segment reserved for NIIs saw an exceptional subscription of 128.41 times.
- Retail Individual Investors (RIIs): The retail category was subscribed 43.51 times.
- Qualified Institutional Buyers (QIBs): The QIB portion received 4.75 times the subscription level.
Anchor Investment
Prior to the public offering, Denta Water and Infra Solutions had successfully raised slightly over ₹66 crore from anchor investors. The IPO was priced between ₹279 and ₹294 per share.
IPO Details
The IPO is a fresh issue of 7.5 million equity shares, valued at ₹220.5 crores at the upper end of the price band. The company plans to allocate ₹150 crores of the funds raised to meet working capital requirements, with the remainder earmarked for general corporate purposes.
About Denta Water and Infra Solutions
Established in 2016, Denta Water and Infra Solutions Ltd has emerged as a significant player in the water engineering, procurement, and construction (EPC) services sector. The company's focus on water management projects and infrastructure services has positioned it as a key contender in this domain.
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.
0 comments:
Post a Comment