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Unlisted shares of Denta Water and Infra Solutions Ltd are currently trading at Rs 370 apiece in the grey market, which is a 25.85 per cent premium over the upper IPO price of Rs 294.
Denta Water IPO Allotment Status Online.
Denta Water IPO Allotment Status: The Denta Water and Infra Solutions IPO allotment is taking longer than usual to be finalised. According to people at the IPO’s registrar office, the IPO allotment is taking longer than usual due to high subscription numbers, and the allotment will be declared within an hour.
“There is a huge oversubscription of the IPO, which is why the allotment is taking a bit longer. Traffic overload has also affected the website. We are uploading the allotment data and it will be available within an hour or so on the portal,” an executive at Integrated Registry Management Services Pvt Ltd, which is the registrar for the Denta Water IPO, told news18.com.
The IPO was closed on January 24 and received a whopping 221.54 times subscription. As per a schedule, the allotment was to be originally finalised on January 27.
After the allotment is finalised, the IPO listing is scheduled to take place on January 29 on both BSE and NSE.
Denta Water IPO: How To Check Allotment Status Online?
The Denta Water IPO allotment has been delayed and will now take place today, Tuesday, January 28. The IPO allotment status can be checked online by following these steps:
1) Go to the official BSE website via the URL — https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Denta Water and Infra Solutions Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit the ‘Search’ option.
Your share application status will appear on your screen.
You can also visit directly on the registrar Integrated Registry Management Services Pvt Ltd’s portal — and check the Denta Water IPO allotment status.
Denta Water IPO GMP Today
According to market observers, unlisted shares of Denta Water and Infra Solutions Ltd are currently trading at Rs 370 apiece in the grey market, which is a 25.85 per cent premium over the upper IPO price of Rs 294. It indicates a strong listing gain for investors on January 29.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Denta Water IPO: More Details
The initial public offering of Denta Water and Infra Solutions Ltd, which was open between January 22 and January 24, received a whopping 221.54 times subscription garnering bids for 1,16,31,09,250 shares against 52,50,000 shares on offer. The retail category received a 90.38 times subscription in total, the NII portion got 507.07 times subscription. Its QIB category has been subscribed to by 236.94 times.
The price band of the Rs 220.50-crore IPO was fixed at Rs 179 to 294 apiece.
The IPO had received a 17.29 times subscription on Day 1 and a 50.9 subscription on Day 2.
The Denta Water and Infra Solutions IPO is entirely a fresh issue of 75 lakh equity shares worth Rs 220.5 crore at the upper end of the price band.
The company on Tuesday said it has raised a little over Rs 66 crore from anchor investors. The issue, with a price band of Rs 279-294 per share, will conclude for public subscription on January 24.
Proceeds to the extent of Rs 150 crore will be utilised for meeting working capital requirements and a portion will be used for general corporate purpose.
Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services.
It has completed 32 water management projects out of which 11 projects were undertaken as the main contractor, 1 project under a consortium/joint venture arrangement and 20 projects undertaken under a sub-contract arrangement with the main contractor.
