Water The initial public offering (Denta Water IPO) of infrastructure solutions company Denta Water and Infra Solutions has received tremendous response from investors. This IPO was fully subscribed within minutes of opening for bidding on Wednesday. According to data available on NSE till 10.46 am, bids were received for 91,64,450 shares against 52.50 lakh shares in the IPOs. The portion of non-institutional investors (NII) received 2.6 times subscription.
What is the price band?
The retail individual investors (RII) category received 2.38 times subscription in early trade on the very first day. On Tuesday, Denta Water and Infra Solutions had informed about raising an amount of more than Rs 66 crore from large (anchor) investors. The company has fixed the price band of Rs 279-294 per share for the Rs 220.5 crore IPO. This IPO will close on 24 January. The initial public offering of Denta Water & Infra Solutions is based entirely on 75 lakh new shares. There is no offer for sale in this. The shares of the company will be listed on BSE and NSE.
What is GMP?
The company’s shares are seen trading at a good premium in the gray market. On Wednesday afternoon, Denta Water shares were seen trading at a premium of Rs 150 against the issue price of Rs 294. In this way, this share can be listed on the stock exchanges at Rs 444 with a premium of 51.02 percent.
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