The initial public offer of water and infrastructure solutions company Denta Water and Infra Solutions has already been subscribed 17 times on its opening day. This indicates strong investor interest in the company's IPO, which is set to close on January 24. The IPO is expected to result in a strong listing gain for investors, with the grey market premium currently at 51.02% over the upper IPO price of Rs 165. With a focus on water management projects and construction in the railway and highway sectors, Denta Water and Infra Solutions' revenue and profits have shown a strong growth trajectory, making it an attractive investment opportunity.
Denta Water and Infra's IPO: A Successful Debut
Denta Water and Infra Solutions, a leading provider of water and infrastructure solutions, has witnessed a resounding success with its initial public offering (IPO). Within the first day of its launch, the IPO has been oversubscribed by a staggering 17 times, a clear indication of the robust investor interest in the company's growth potential.
Background
Established in 2001, Denta Water and Infra has established a solid track record in the water management, railway, and highway sectors. The company's expertise encompasses the design, execution, and maintenance of water purification plants, sewage treatment facilities, and various infrastructure projects. With a focus on sustainable and cost-effective solutions, Denta Water and Infra has carved a niche for itself in the industry.
Financial Performance
Denta Water and Infra has consistently reported impressive financial performance, with both revenue and profits exhibiting a steady upward trend. In the fiscal year ended March 2022, the company's revenue stood at Rs 1,300 crore, representing a growth of approximately 20% over the previous year. Similarly, its profit after tax increased by over 25% to Rs 190 crore.
IPO Details
The IPO of Denta Water and Infra Solutions opened for subscription on January 23 and will close on January 25. The price band has been set at Rs 140-165 per share, with a minimum investment requirement of Rs 14,300. The IPO is expected to raise approximately Rs 493 crore.
Grey Market Premium
The strong investor sentiment towards Denta Water and Infra's IPO is also reflected in the grey market premium (GMP). As of the opening day, the GMP stands at 51.02% over the upper IPO price of Rs 165. This indicates that investors anticipate a significant listing gain on the day of the stock's debut on the stock exchanges.
Top 5 FAQs
1. What is the size of Denta Water and Infra's IPO? The IPO is expected to raise approximately Rs 493 crore.
2. What is the price band for the IPO? The price band has been set at Rs 140-165 per share.
3. What is the GMP for the IPO? As of the opening day, the GMP stands at 51.02% over the upper IPO price of Rs 165.
4. When will the IPO close? The IPO will close on January 25.
5. What is the expected listing date? The stock is expected to list on the BSE and NSE on February 1.
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