IPO
Denta Water and Infra Solutions’ Rs.220.50-Cr IPO subscribed 222 times
The INR 220.50-crore initial public offering of Bengaluru-based Denta Water and Infra Solutions was subscribed 221.52 times. The IPO, which came out with a price band of INR 279-294 a share, received bids for 116.30 crore shares against the offered 52.50 lakh shares. The IPO was entirely a fresh issue of shares.The non-institutional investors and retail investor portions were subscribed 507.05 times and 90.34 times, respectively, while the Qualified Institutional Buyer (QIB) portion was subscribed 236.94 times. The firm had garnered INR 66.15 crore from anchor investors ahead of its initial public offering.Denta proposes to use the net proceeds of the issue towards working capital requirements.The company, with expertise in groundwater recharge projects, designs, installs, and commissions water management infrastructure projects. It also provides operations and maintenance services for projects.
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