Denta Water and Infra solutions, opened for subscription from January 24 to January 27 has created a significant buzz in the market as it continues to gain traction on the second day of subscription.

The price band of this public issue is set between the range of Rs 279 to 294 per share. The three-day offering consists entirely of a fresh issue of shares, with no offer-for-sale component

Denta Water IPO: Subscription on Day 2 so far

Denta Water IPO, now on its Day 2 of bidding, has been subscribed 46.44 times so far. Breaking it down, the retail category received a subscription of 41.03 times so far. Further, the QIB and the NII segment was subscribed at 4.56 times and 114.9 times till now.

On the first day of bidding, the issue saw a strong demand of 17.07 times, with a notable increase in interest from retail and non-institutional investors.

“The company ranks among the top two dental laboratories in India by revenue and is the leading exporter of dental products. We believe that going forward company’s growth factor could be driven by trends such as the changing regulatory requirements in the medical devices sector helps transition from unorganized to organized players, increasing awareness and demand for dental aesthetics, and the growing preference for metalfree dental products. Hence considering all parameters, we recommend the issue can be consider as “SUBSCRIBE for LONG TERM”,” said Anand Rathi research firm in an IPO note.

Denta Water IPO: GMP

As per the latest trend on day 2, Denta Water shares are trading at a premium of Rs 130, up by 44.22% against the IPO’s upper price band

The shares of Denta Water was trading at premium of Rs 150 in the early morning hours, which indicates an estimated listing price of Rs 444 per share, a 51.02% higher over the issue upper price band of Rs 294 per share.

However, it is important to note that the grey market premium does not represent the official listing price, and market fluctuations are common.

Denta Water IPO Allotment and listing

The Denta Water IPO will conclude its subscription period on January 24, with share allotment set to be finalised on January 27. The tentative listing date is January 29 on both the BSE and the NSE.

Denta Water IPO: Key highlights of the issue

With a price band between Rs 279 to Rs 294 per share, retail investors can bid for a minimum of 50 shares, which amounts to an initial investment of Rs 14,700. For smaller and larger investors, the minimum lot size increases, with Small and High Net-Worth Individuals (sNII and bNII) having a minimum investment requirement of Rs 2,05,800 and Rs 10,14,300, respectively.

Denta Water IPO: Key players behind the IPO

SMC Capitals is acting as the book running lead manager for the IPO. Meanwhile, Integrated Registry Management Services serves as the registrar.