The segment designated for non-institutional investors saw a staggering 128.41 times subscription, while the retail individual investors (RIIs) category was subscribed 43.51 times. The qualified institutional buyers (QIBs) portion received 4.75 times the subscription level.
Denta Water and Infra IPO announced on Tuesday that it had garnered slightly over ₹66 crore from anchor investors. The offering, priced between ₹279 and ₹294 per share, will close for public subscription on Friday.
The initial public offering is a completely new issuance of 7.5 million equity shares valued at ₹220.5 crores at the maximum end of the price range. The funds raised, amounting to ₹150 crores, will be allocated to support working capital needs, while a part will be directed towards general corporate purposes.
Established in 2016, Denta Water and Infra Solutions Ltd has become a significant contender in the domain of water engineering, procurement, and construction (EPC) services.
Stay tuned for more updates
Denta Water and Infra IPO Day 3 Live Updates: Check out Anand Rathi’s views
Denta Water and Infra Solutions Ltd has established expertise in water management projects with special focus on ground water recharging with expertise in in-house designing and engineering of water management infrastructure projects and strong order book along with efficient business model.
At the upper price band company is valuing at P/E of 13.14x, with an EV/EBITDA of 9.13x and market cap of ₹ 7,849 million post issue of equity shares and return on net worth of 36.36%.
We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO.
Denta Water and Infra IPO Day 3 Live Updates: Here’s what GMP hints ahead of third bidding day
Denta Water IPO GMP today or Denta Water IPO grey market premium is +137. This indicates Denta Water share price was trading at a premium of ₹137 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 ₹431 apiece, which is 46.6% higher than the IPO price of ₹294.
According to the grey market activities observed over the past eight sessions, the IPO GMP is currently showing an upward trend, indicating a potentially strong listing. The minimum GMP recorded is ₹45, whereas the maximum stands at ₹165, as per insights from experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
