The ₹220.50-crore preliminary public providing of Denta Water and Infra Options noticed an awesome response subscribing 221.52 occasions.
The IPO, which got here out with a value band of ₹279-294 a share, obtained bids for 116.30 crore shares in opposition to the supplied 52.50 lakh shares.
The IPO was completely a contemporary concern of as much as 75 lakh shares.
The non-institutional buyers and retail investor parts had been subscribed 507.05 occasions and 90.34 occasions, respectively, whereas the Certified Institutional Purchaser Portion was subscribed 236.94 occasions.
It has garnered ₹66.15 crore from anchor buyers forward of its preliminary public providing. The corporate knowledgeable the bourses that it allotted 22.50 lakh shares to anchor buyers at ₹294 a share.
International and home establishments that participated within the anchor included Abakkus Diversified Alpha Fund-2, Persistent Progress Fund-Varsu India Progress Story Scheme 1, Rajasthan International Securities Non-public Ltd, Saint Capital Fund, Finavenue Capital Belief—Finavenue Progress Fund, Chhatisgarh Investments Ltd, Steptrade Revolution Fund, Mint Centered Progress Fund PCC—Cell 1, Astorne Capital VCC—Arven, and Aarth AIF.
Future plans
The corporate proposes to utilise the online proceeds in the direction of working capital necessities and basic company functions.
The corporate designs, installs, and commissions water administration infrastructure tasks, with experience in groundwater recharge tasks. It additionally offers operations and upkeep providers for tasks (usually lasting 3- 5 years).
Moreover, the corporate undertakes development tasks on railways and highways.
SMC Capitals is the only real book-running lead supervisor, and Built-in Registry Administration Companies Non-public Ltd is the problem’s registrar.
