The fresh issuance proceeds amounting to ₹150 crore will be allocated for working capital needs, with a portion designated for general corporate activities.
SMC Capitals serves as the exclusive book-running lead manager for the issue.
Since its establishment in 2016, Denta Water and Infra Solutions Ltd has become a significant player in the water engineering, procurement, and construction (EPC) sector.
The company has successfully completed 32 water management projects, including 11 as the primary contractor, one through a consortium/joint venture arrangement, and 20 as a subcontractor in collaboration with the main contractor.
Stay tuned for more updates
Denta Water and Infra IPO Day 1 Live Updates: All you need to know about anchor details
Denta Water and Infra Solutions Ltd secured slightly more than ₹66 crore from anchor investors prior to its initial public offering (IPO). Among the participants in the anchor round were both foreign and domestic institutions, including Abakkus Diversified Alpha Fund-2, Rajasthan Global Securities, Saint Capital Fund, Finavenue Capital Trust, Chhatisgarh Investments Ltd, Steptrade Revolution Fund, Astorne Capital VCC — Arven, and Aarth AIF, as indicated in a circular posted on the BSE’s website.
According to the circular, the company allocated 22.5 lakh equity shares at a price of ₹294 each to 10 funds, resulting in a total transaction value of ₹66.15 crore.
Denta Water and Infra IPO Day 1 Live Updates: Here’s what GMP hints ahead of the launch
Denta Water IPO GMP today or Denta Water IPO grey market premium is +165. This indicates Denta Water share price was trading at a premium of ₹165 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Denta Water share price was indicated at ₹459 apiece, which is 56.12% higher than the IPO price of ₹294.
Today’s IPO GMP is positive and anticipates a solid listing based on the grey market activity over the last six sessions. Experts from investorgain.com say that the lowest GMP is ₹45 and the highest is ₹165.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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