Thu Jan 23 11:52:55 UTC 2025: ## Denta Water and Infra IPO Oversubscribed, Commands High Grey Market Premium

**MUMBAI, INDIA – January 23, 2024** – The initial public offering (IPO) of Denta Water and Infra Solutions Ltd., a water engineering, procurement, and construction (EPC) services company, was significantly oversubscribed on its first day. The IPO, priced between ₹279 and ₹294 per share, received bids for 8.93 crore shares against the 52.50 lakh shares on offer, resulting in a 17.02 times oversubscription.

The Non-Institutional Investors (NII) portion saw the highest demand, with a 36.19 times oversubscription rate. Retail Individual Investors (RII) also showed strong interest, subscribing 17.58 times the allotted amount. Qualified Institutional Buyers (QIB) subscribed 1.67 times. The company had previously raised over ₹66 crore from anchor investors.

The IPO, which closes on January 24th, involves a fresh issue of 75 lakh equity shares, aiming to raise ₹220.5 crore at the upper end of the price band. ₹150 crore will be used for working capital, with the remainder allocated for general corporate purposes.

Market observers report a significant grey market premium (GMP) of around 56%, with some sources quoting a GMP of ₹165, suggesting a potential listing gain of 56.12%. Shares are expected to be listed on the BSE and NSE on January 29th, with allotment anticipated on January 27th.

**Disclaimer:** *Investors are advised to consult with certified financial experts before making any investment decisions.*

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