The initial public offering (IPO) of Denta Water and Infra Solutions IPO was subscribed 221.52 times on the final and last day of bidding process, driven by robust demand from qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

The issue was subscribed 507.05 times by the NIIs, followed by QIBs at 236.94 times. Meanwhile, the retail investors portion was booked 90.33 times.

Denta Water and Infra Solutions IPO has a grey market premium (GMP) of ₹115 in the unlisted market today, which indicates a premium of 39% over the issue price.

However, it is important to note that grey market premiums are just an indicator of how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.

The ₹220.50 crore IPO of Denta Water was open for subscription from January 22 to January 24.

Price band for the issue has been fixed between ₹279 – ₹294 per share.

Denta Water will use the fresh issue proceeds for its working capital requirements, which amounts to ₹150 crore. Of which, ₹50 crore will be utilised in the current financial year and the remaining ₹100 crore in the next financial year i.e. ₹100 crore.

Incorporated in 2016, Denta Water and Infra Solutions is a growing water and infrastructure solutions company engaged in designing, installing, and commissioning water management infrastructure projects with expertise in groundwater recharge projects.

The company has successfully executed major projects like Byrapura, Hiremagaluru LIS, and KC Valley, contributing to Bengaluru’s wastewater management and supporting the Government’s Jal Jeevan Mission.

As of November 30, 2024, the company has 17 ongoing projects to be implemented by them or under consortium. The company’s share in the aggregate contract value comprises of ₹1,100.4 crore, out of which ₹1,066.7 crore is about water management projects.

Smc Capitals Ltd is the book running lead manager of the Denta Water IPO, while Integrated Registry Management Services Pvt Ltd is the registrar.