Denta Water IPO Day 02 subscription status Highlights: The water and infrastructure solutions company opened its issue for subscription on January 22. The bidding will close on January 24. Denta Water aims to raise a sum of Rs 220.50 crore by selling 75 lakh fresh shares.
The IPO was fully booked on day 01. It was subscribed to a total of 17.29 times with the retail portion getting booked 18.02 times. The NII investors dominated the issue with 36.4 times subscription. The allotment of shares is expected to be finalised on January 27. The listing on the bourses is likely to be on January 29.
Denta Water and Infra IPO Day 2 Subscription Highlights: Check subscription status here
Denta water IPO day 2 Live Updates: Order book of Denta Water
As of November 30, 2024, Denta Water has 17 ongoing projects being implemented either directly by the company or a joint venture, and their Company’s share in the aggregate contract value comprises Rs 1,100.44 crore, out of which Rs 1,066.75 crore is in relation to water management projects.
Denta water IPO day 2 Live Updates: Subscribed 39 times
Denta Water IPO was booked to a total of 39.2 times as of 2.30 pm. The retail part was subscribed 36.7 times while the NII portion was booked almost 92 times. The QIB section was subscribed more than 4 times.
Denta water IPO day 2 Live Updates: Completed projects
Denta Water has executed 32 water management infrastructure projects, where the company has undertaken 11 projects as the main contractor, 1 project has been undertaken under a consortium/joint venture arrangement and 20 projects have been undertaken under a sub-contract arrangement with the main contractor.
Denta water IPO day 2 Live Updates: Geojit Financial Services on IPO
"At the upper price band of Rs 294, Denta Water is available at a P/E of 16.2 (FY25 Annualised), which is at a discount compared to its listed peers," said Geojit Financial Services in an IPO note. The company’s focus on water management projects and growing market opportunities present significant prospects for the company's future growth.
Denta water IPO day 2 Live Updates: GMP soars over 47%
Denta Water IPO GMP soars nearly 50%. At the current GMP, the issue is expected to list at Rs 434 per share.
Denta water IPO day 2 Live Updates: Choice Broking on Denta Water
"At the higher price band, Denta Water is demanding a P/E multiple of 13.1x, based on its FY24 EPS of Rs 22.4, this valuation seems to be at a discount compared to its peer average. The company has shown growth in both it’s top and bottom line however, the margins have been impacted," said Choice Broking in an IPO note.
Denta water IPO day 2 Live Updates: GMP update
Denta Water was fetching a premium of 48% in the grey market to its issue price. This translates that the stock might seelisting around a price of Rs 434 on the bourses. The shares of Denta Water are expected to be listed on January 29.
Denta water IPO day 2 Live Updates: Subscription status
Denta Water IPO was subscribed to a total of 22.98 times as of 10.50 am around on the second day of its bidding. The retail category was booked 23.17 times during the same time while the NIIs subscribed it 50.92 times. The QIBs have subscribed to the issue 1.71 times, during the same time frame.