Denta Water and Infra Solutions IPO to open on January 22; check price band, GMP & other details

The initial public offering (IPO) of Denta Water and Infra Solutions opens for bidding on Wednesday, January 22. The water and infra solutions provider shall be offering its shares in the range of Rs 279-294 apiece and investors can apply for a minimum of 50 equity shares and its multiples thereafter. The issue shall close for bidding on Friday, January 24.

Incorporated in 2016, Bengaluru-based Denta Water and Infra Solutions is a growing water and infrastructure solutions company engaged in designing, installing, and commissioning water management infrastructure projects with expertise in groundwater recharge projects.

The IPO of Denta Water and Infra Solutions is entirely a fresh share sale of 75,00,000 equity shares, amounting to Rs 220.50 crore at the upper end of the price band. Anchor book for the issue opens on Tuesday, January 21. The net proceeds from the issue shall be utilized to meet working capital requirements and general corporate purposes.

Denta Water and Infra Solutions has experience in water engineering and EPC services. It specializes in infrastructure projects, including groundwater recharging through recycled water, addressing growing water solution demands. It has successfully executed major projects like Byrapura, Hiremagaluru LIS, and KC Valley, contributing to Bengaluru's wastewater management.

Denta Water and Infra Solutions reported a net profit of Rs 24.2 crore with a revenue of Rs 98.51 crore for the six-month ended on September 30, 2024. The company's net profit came in at Rs 59.73 crore with a revenue of Rs 241.84 crore for the financial year 2023-24. The company shall command a total market capitalization of about Rs 785 crore.

Denta Water and Infra Solutions has reserved 50 per cent of the net issue for the qualified institutional bidders, while non-institutional investors (NIIs) will have 15 per cent of the reservation. Retail investors shall have 35 per cent of the issue allocated towards them. There was not much activity in the grey market for the counter, resulting in a negligible grey market premium (GMP).

SMC Capitals is the book running lead manager of the Denta Water and Infra Solutions IPO, while Integrated Registry Management Services is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Wednesday, January 29 as the tentative date of listing.