Denta Water IPO opens for bidding; GMP rises 56%; check key dates, subscription, price band, review

Denta Water IPO, through which the company aims to raise around Rs 220 crore, has opened for subscription today. The IPO is completely a fresh equity sale worth Rs 75 lakh shares.

The company plans to use the funds raised from the IPO for working capital requirements and general corporate purposes.

Check price band of Denta Water

Denta Water is offering its shares at Rs 279-294 apiece. The maximum that investors can bid for in a lot is 50 shares.

Denta Water GMP on Day 1

Denta Water GMP has been on the rise since the past few days. The GMP, which started at around Rs 45, rose to Rs 165, which is a premium of 56% to the issue price.

Denta Water IPO analyst review: Should you subscribe?

Analysts advised investors to subscribe to the issue for the long term as the company boasts of a strong order book along with an efficient business model.

"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 785 million 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," said Anand Rathi.

Denta Water IPO details

Established in 2016, Denta Water and Infra Solutions has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services. With a meritorious track record in infrastructure project installations, including groundwater recharging through recycled water, Denta Water has been a contributor to addressing the rising demand for water-related solutions in the country.

Their notable achievements encompass pivotal projects like the Byrapura and Hiremagaluru LIS Project, Karagada LIS Project, and others, primarily executed through lift irrigation systems.

Denta Water played a substantial role in the first phase of the KC Valley project, contributing to Bengaluru's reputation as the second-largest city globally in terms of treated wastewater quantity. Their significant involvement in the "Jal Jeevan

Allotment and listing date of Denta Water IPO

Denta Water is likely to finalise the share allotment on January 27 and the listing date is scheduled for January 29.

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