Denta Water IPO: Check allotment status, GMP and other details

The initial public offering (IPO) of Denta Water and Infra Solutions, which garnered strong response from investors for its ₹220.50 crore issue, is set to make debut on the stock market on January 29, 2025. The allotment for Denta Water IPO was finalised on January 27, and investors can check their allotment status online via BSE and NSE websites, and the official portal of the IPO registrar. The applicants can enter their application number, or PAN, on exchange website and check the Denta Water IPO allotment status.

The three-day IPO of Denta Water, which was entirely a fresh issue of 0.75 crore shares, opened for subscription between January 22 and January 24 at a price band of ₹279-294 per share. The lot size for an application was 50 and multiple thereafter, and the minimum amount for retail investors was ₹14,700 for one lot.

The issue was subscribed 221.54 times as it received bids worth ₹34,195.41 crore for its ₹220.50 crore issue amid broad-based response from all three categories of investors. The non-institutional investor category received record 507 times bidding, followed by 236.94 times in qualified institutional buyer segment, and 90.38 in retail quota.

The company had reserved 50% of the offer for qualified institutional buyers, 15% for non-institutional investors, and remaining 35% for retail individual portion.

Ahead of listing, Denta Water IPO was trading at premium in the unlisted market, indicating a strong debut on domestic bourses. The shares were commending a grey market premium (GMP) of ₹76, or 25.85%, over the issue price, albeit the premium dropped from its peak of ₹165 touched on January 21.

Denta Water, a growing water and infrastructure solutions company, intends to use IPO proceeds to meet working capital requirements and general corporate purposes.

Formed in 2016, Denta Water is engaged in designing, installing, and commissioning water management infrastructure projects with expertise in groundwater recharge projects. Over the years, the water engineering and EPC services provider has created a niche in groundwater recharging segment, which contributes around 95% of its revenue.

Ahead of the IPO, the company raised ₹66.15 crore from anchor investors by allocating 22.50 lakh equity shares at upper end of the price band of ₹294 per share. The anchor book saw participation from foreign and domestic Institutions such as Abakkus Diversified Alpha Fund-2, Persistent Growth Fund-Varsu India Growth Story Scheme 1, Rajasthan Global Securities Private Limited, Saint Capital Fund, Finavenue Capital Trust- Finavenue Growth Fund, Chhatisgarh Investments Limited, Steptrade Revolution Fund, Mint Focused Growth Fund PCC- Cell 1, Astorne Capital VCC – Arven, Aarth AIF. It is notable that no equity shares were allocated to domestic mutual funds.