Thu Jan 23 08:58:46 UTC 2025: **Denta Water and Infra IPO Oversubscribed on Day 2**

**MUMBAI, January 24** – The initial public offering (IPO) of Denta Water and Infra Solutions Ltd., a water and infrastructure solutions provider, concluded today after being significantly oversubscribed. The IPO, which offered 7.5 million equity shares at a price band of ₹279-₹294, saw exceptionally strong demand, exceeding expectations across investor categories.

Day one saw the IPO fully subscribed 17.05 times, with retail investors alone subscribing 17.63 times their allocated portion. Non-institutional investors (NIIs) were even more enthusiastic, with a 36.21x oversubscription. While Qualified Institutional Buyers (QIBs) showed less interest, the overall demand was substantial.

The second day continued the trend, with the IPO closing at a staggering oversubscription of 26.10 times. Retail investors demonstrated consistent enthusiasm with a 26.59 times oversubscription. The NII portion reached 57.43x oversubscription, with QIBs recording a 1.73x oversubscription.

Denta Water, which secured over ₹66 crore from anchor investors before the IPO, will utilize the ₹220.5 crore raised (at the upper price band) primarily for working capital (₹150 crore) and general corporate purposes. The company specializes in water management infrastructure, particularly groundwater recharge projects, and has a substantial order book of ₹7,524.5 million.

The company’s impressive order book and robust financial performance, including high EBITDA margins, fueled investor confidence. Grey market premiums, indicating investor expectations for a high listing price, fluctuated during the IPO period, reaching as high as ₹165 per share, suggesting potential for a significant listing gain.

Several brokerage firms recommended subscribing to the IPO, citing the company’s strong fundamentals, significant market opportunity in India’s growing water management sector, and its strategic alignment with government initiatives like the Jal Jeevan Mission. However, potential investors are advised to conduct thorough due diligence and consult with financial advisors before making investment decisions.

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