The shares of Denta Water And Infra Solutions Limited are scheduled to list on the BSE and NSE on Wednesday, Jan. 29. Denta Water IPO allotment was finalised on Tuesday, Jan. 28. The declaration of allotment results was delayed due to heavy website traffic on IPO registrar website.

Investors who had bid for the issue can verify their share allotment status on BSE website and Integrated Registry Management Services Pvt Ltd’s portal.

Denta Water and Infra Solutions Initial Public Offering (IPO) which concluded its subscription period on Friday received an astounding response from the investors as the issue was oversubscribed over 221.68 times. Non-Institutional investors led the charge, subscribing a whopping 507.27 times, followed by Qualified Institutional Buyers at 236.9 times and retail investors at 90.56 times.

The price band for the IPO was set in the range of 279 to Rs 294 per share. The proceeds from the issue, to the extent of Rs 150 crore, will be utilised for meeting working capital requirements and for general corporate purposes, subject to the applicable laws.

Denta Water And Infra Solutions IPO GMP Today

The latest grey market premium of Denta Water and Infra Solutions IPO is Rs 73. The unlisted shares of Denta Water and Infra Solutions Ltd are currently trading at Rs 367 apiece in the grey market, which shows a gain of 24.83% over the upper IPO price of Rs 294. The current GMP trends indicate a strong listing gain for investors on Jan. 29.

The grey market premium trends over the last few days indicate that the current GMP of Rs 73 is quite low as compared to the day when the IPO opened for subscription (when it was Rs 150) as well as when the IPO closed for subscription (when it was Rs 120). According to the market tracking site investorgain.com, the lowest GMP of Denta Water and Infra Solutions IPO was Rs 45, and the maximum was Rs 165.

Denta Water and Infra Solutions IPO Issue Details

  • Price band: Rs 279–294 per share.

  • Fresh issue size: Rs 220.5 crore.

  • Total issue size: Rs 220.5 crore.

  • Market value at the upper end of price band: Rs 785 crore.

  • Lot size: 35 shares.

About Denta Water and Infra Solutions

Established in 2016, Denta Water and Infra Solutions is one of the players in the field of water engineering, procurement, and construction services.

The company’s notable achievements include the execution of several lift irrigation system projects, including Byrapura and Hiremagaluru LIS project, the Karagada LIS project, and others.

The firm has significant involvement in the Jal Jeevan Mission of the Government of India, under which it was awarded three projects — Kerehalli drinking water project, Chikkabenakal drinking water project and rehabilitation of MVS to Doddakowlande and other 55 villages of Nanjangud Taluk, which are located in Karnataka.

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. Read more on IPOs by NDTV Profit.The latest grey market premium of Denta Water and Infra Solutions IPO is Rs 73 at 8:30 a.m. on Wednesday, Jan 29., indicating a potential gain of 24.83% over the issue price of Rs 294.  Read MoreIPOs, Trending 

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