Denta Water IPO GMP Subscription Live Updates: It is the last day to subscribe to the IPO of Denta Water. It was opened for subscription on January 22. Denta Water aims to raise a sum of Rs 220.50 crore by selling 75 lakh fresh shares. The IPO has been subscribed to a total of 51 times as of day 02.
The retail portion was booked 43.94 times during the same time. The NII investors dominated the issue with 128.68 times subscription. The allotment of shares is expected to be finalised on January 27. The company raised Rs 66.15 crore from the anchor investors by selling them 22.5 lakh shares.
Denta Water and Infra IPO Day 3 Live Updates: Check day 03 subscription status
Denta Water IPO Day 3 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. The company’s focus on water management projects and growing market opportunities present significant prospects for the company's future growth," said Geojit Financial Services in an IPO note.
Denta Water IPO Day 3 Live Updates: Anand Rathi on IPO
"At the upper price band, the company is valuing at P/E of 13.14x, with an EV/EBITDA of 9.13x and market cap of Rs 784.9 crore post issue of equity shares and return on net worth of 36.36%. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO," said Anand Rathi Research in an IPO note.
Denta Water IPO Day 3 Live Updates: Geographic diversification
Denta Water believes that geographical diversification will reduce reliance on specific states and enable the company to capitalize on
opportunities in water management, particularly GWR projects. The company plans to expand into regions like Gujarat, Madhya
Pradesh, Maharashtra, and Uttar Pradesh to explore new prospects beyond Karnataka.
Denta Water IPO Day 3 Live Updates: Contracts of Denta Water
Denta Water has completed projects involving the filling up of numerous tanks and check dams. As of November 2024, it has procured direct contracts worth Rs 774 crore, out of which direct contracts (independent) were worth Rs 47 crore and sub-contracts worth Rs 465.7 crore in groundwater recharge projects.
Denta Water IPO Day 3 Live Updates: Key highlights of company
It participates in tenders for developing projects such as infrastructure for groundwater recharging, lift irrigation, and infrastructure for supplying drinking water to various habitations under the “Jal Jeevan Mission” on a competitive basis.
Denta Water IPO Day 3 Live Updates: Denta Water projects
Denta Water has 17 ongoing projects constituting an aggregate contract value of Rs 1,100.40 crore, out of which Rs 1,066.70 crore is in relation to water management projects, and Rs 33.60 crore is in relation to infrastructure projects including railways.
Denta Water IPO Day 3 Live Updates: Key risks of Denta Water
As Denta Water is fetching a good premium and optimism in investor sentiments can be seen by looking at the subscription data, the risk an issue involves should not be kept apart. Denta Water bears the risk of geographical risk, along with delays in projects and volatility in profitability.
Denta Water IPO Day 3 Live Updates: GMP update
Denta Water was fetching a premium of almost 47% in the grey market. This indicated that the stock might list around a price of Rs 431. The grey market is an unofficial place to trade shares ahead of listing. Market participants keep a watch on GMP to track listing gains.