Denta Water and Infra IPO gets 50.6 times subscription on day 2

The archetypal nationalist connection of Denta Water and Infra Solutions received 50.63 times subscription connected the 2nd time of bidding connected Thursday.

The archetypal stock merchantability received bids for 26,58,10,750 shares against 52,50,000 shares connected offer, translating into 50.63 times subscription, according to information disposable with the NSE.

The information for non-institutional investors fetched 128.41 times subscriptions, portion the class for retail idiosyncratic investors (RIIs) got subscribed 43.51 times.

The quota for qualified organization buyers (QIBs) received 4.75 times the subscription.

Denta Water and Infra Solutions connected Tuesday said it has raised a small implicit Rs 66 crore from anchor investors.

The issue, with a terms set of Rs 279-294 per share, volition reason for nationalist subscription connected Friday.

The IPO is wholly a caller contented of 75 lakh equity shares worthy Rs 220.5 crore astatine the precocious extremity of the terms band.

Proceeds to the grade of Rs 150 crore volition beryllium utilised for gathering moving superior requirements, and a information volition beryllium utilized for wide firm purposes.

Founded successful 2016, Denta Water and Infra Solutions Ltd has emerged arsenic 1 of the cardinal players successful the tract of h2o engineering, procurement, and operation (EPC) services.

It has completed 32 h2o absorption projects, retired of which 11 projects were undertaken arsenic the main contractor, 1 task nether a consortium/joint task statement and 20 projects undertaken nether a sub-contract statement with the main contractor.

The company's shares volition beryllium listed connected the BSE and NSE.