Denta Water and Infra Solutions IPO listing tomorrow: Here’s what GMP, subscription status, expert hint ahead of debut

Denta Water and Infra Solutions IPO listing date has been scheduled for tomorrow (Wednesday, January 29). Denta Water IPO allotment was finalised yesterday (Monday, January 27). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, January 28. The process of refunding those who have not yet received their shares will likewise be finished today.

The water and infrastructure solutions company launched its IPO for subscription from Wednesday, January 22 to Friday, January 24. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 507.27 times, followed by qualified institutional buyers (QIBs) at 236.94 times. Retail investors showed a subscription rate of 90.56 times. Notably, on the third day of the IPO, the Denta Water and Infra Solutions IPO subscription status stood at 221.68 times, as reported by the BSE.

The Denta Water and Infra Solutions IPO is attracting considerable attention from investors, evidenced by its impressive subscription rate of 221 times and a healthy grey market premium (GMP) of 30%. According to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, these factors indicate strong market sentiment around the IPO.

With robust financial performance noted, it appears to be a promising opportunity for those looking to capitalize on listing gains. Additionally, considering the fundamentals and growth prospects, it might also be a viable option for those with a long-term investment perspective.

Denta Water and Infra IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Denta Water IPO price band was set in the range of ₹279 to ₹294 apiece of the face value of ₹10. Bids could be placed for multiples of 50 shares, or at least 50 shares.

Denta Water and Infra Solutions IPO GMP today

Let's check what does Denta Water IPO GMP today signal ahead of listing.

Denta Water IPO GMP today or Denta Water IPO grey market premium is +74. This indicates Denta Water share price was trading at a premium of ₹74 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Denta Water share price was indicated at ₹368 apiece, which is 25.17% higher than the IPO price of ₹294.

Grey market activity over the past 12 sessions indicates that the current GMP ( ₹74) is trending lower. According to experts on investorgain.com, the lowest GMP is ₹45, and the maximum is ₹165.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Denta Water and Infra IPO details

The IPO includes a completely new issue of 7.5 million shares. At the highest price point, the total size of the issue will be approximately ₹220.50 crore.

Denta Water, an experienced entity in water engineering, procurement, and construction (EPC) services, plans to use the proceeds from its fresh issue for working capital needs totaling ₹150 crore. Out of this amount, ₹50 crore will be allocated for the current financial year, while the remaining ₹100 crore will be allocated for the following financial year.

Smc Capitals Limited acts as the book running lead manager for the Denta Water IPO, and Integrated Registry Management Services Private Limited serves as the registrar for the offering.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.