Wed Jan 22 17:32:01 UTC 2025: ## Denta Water and Infra Solutions IPO Oversubscribed in Minutes

**Bangalore, India (January 18, 2024)** – The initial public offering (IPO) of Denta Water and Infra Solutions, a water and infrastructure solutions company, opened to an overwhelmingly positive response on Wednesday. The ₹220.5 crore IPO was fully subscribed within minutes of its launch and is set to close on January 24th.

By the end of the first day, the IPO had received bids 17.09 times the number of shares offered, with 8,97,17,300 shares bid for against the 52,50,000 shares on offer. Retail investors showed particularly strong interest, with a 17.69 times subscription, while Non-Institutional Investors (NII) subscribed 36.24 times. Qualified Institutional Buyers (QIB) subscribed 1.67 times.

The company, specializing in water management projects and infrastructure solutions for railways and highways, has seen significant revenue growth. According to brokerage Geojit Financial, revenue increased from ₹119.6 crore in FY22 to ₹238.6 crore in FY24, a 41.3% CAGR. Profitability also saw strong growth.

Unlisted shares are currently trading at a significant premium in the grey market, at ₹444 per share, representing a 51.02% premium over the upper IPO price of ₹294. This indicates strong investor confidence in the company’s future prospects.

Geojit Financial recommends subscribing to the IPO, citing the company’s strong financial performance, focus on a growing market (the Indian water and wastewater treatment market is projected to reach USD 24 billion by 2033), and attractive valuation. Share allotment is scheduled for January 27th, with listing on the NSE and BSE expected on January 29th. The IPO comprises a fresh issue of 75 lakh equity shares, with proceeds primarily allocated to working capital requirements and general corporate purposes. The company already raised over ₹66 crore from anchor investors.

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