Thu Jan 23 18:37:36 IST 2025: ## Denta Water and Infra IPO Oversubscribed on Day One
**Mumbai, January 23, 2025** – The initial public offering (IPO) of Denta Water and Infra Solutions Limited saw overwhelming investor interest on its first day of trading. The IPO, offering 7.5 lakh equity shares at a price band of ₹279-₹294, was subscribed 17.07 times by the close of the first day, according to the Bombay Stock Exchange (BSE).
Non-Institutional Investors (NIIs) were particularly enthusiastic, subscribing 36.23 times the shares on offer. Retail investors also showed strong interest, with a subscription rate of 17.67 times. Qualified Institutional Investors (QIBs) subscribed 1.67 times.
The company, which specializes in water management and infrastructure solutions, including groundwater recharging, raised ₹66.15 crore from anchor investors prior to the IPO. The IPO aims to raise ₹150 crore for working capital and general corporate purposes.
While the grey market premium (GMP) initially stood at ₹165 per share, it dipped slightly to ₹150 on the first day. This still suggests a potential listing price of ₹444, representing a premium of 51.02 percent over the upper price band, based on Investorgain data. However, investors should consult with financial advisors before making investment decisions.
The IPO closes on Friday, January 24, with listing expected on January 29, 2025. SMC Capitals Limited is the book-running lead manager.
First Piper 