The ₹220.50-crore preliminary public providing of Denta Water and Infra Options noticed an amazing response subscribing 221.52 occasions.
The IPO, which got here out with a worth band of ₹279-294 a share, acquired bids for 116.30 crore shares in opposition to the supplied 52.50 lakh shares.
The IPO was fully a contemporary problem of as much as 75 lakh shares.
The non-institutional traders 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 traders forward of its preliminary public providing. The corporate knowledgeable the bourses that it allotted 22.50 lakh shares to anchor traders 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 Personal 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 web proceeds in direction of working capital necessities and common company functions.
The corporate designs, installs, and commissions water administration infrastructure initiatives, with experience in groundwater recharge initiatives. It additionally supplies operations and upkeep providers for initiatives (usually lasting 3- 5 years).
Moreover, the corporate undertakes building initiatives on railways and highways.
SMC Capitals is the only real book-running lead supervisor, and Built-in Registry Administration Providers Personal Ltd is the problem’s registrar.
