After the company's initial public offering (IPO) received positive feedback, Denta Water and Infra Solutions' shares debuted on the equity benchmark indices today, January 29.
On Wednesday, shares of Denta Water were listed on the National Stock Exchange (NSE) for Rs 325 each, which was 10.54 per cent more than the issue price of Rs 294 per share.
Shares had hit 5 per cent of the upper circuit during the intraday after listing on the NSE at an 10.54 per cent premium.
Listing gains
Since the minimum bid quantity to apply for the Denta Water and Infra Solutions IPO was 50 shares, successful bidders who were given shares in the primary issue would have been sitting on listing gains of Rs 1,550 per lot (Rs 31 x 50 ) as soon as the stock started trading in the secondary market.
IPO details of Denata water IPO
Strong interest was shown in the IPO, which closed on January 24. Non-institutional investors (NIIs) were particularly interested.
For the 26.25 lakh shares available, the retail category received over 23.71 crore bids, resulting in a 90.33-fold oversubscription. Over 57 crore shares were applied for by the NIIs, and their share was 507 times oversubscribed. Over 35.54 crore shares were used by the qualified institutional buyers (QIBs), leading to an oversubscription of almost 237 times.
Only 75 lakh new equity shares were issued in the Rs 220.50 crore IPO. The offer-for-sale element is absent.
Anchor book investors
Anchor investors such as Rajasthan Global Securities, Abakkus Diversified Alpha Fund-2, Finavenue Capital Trust, Saint Capital Fund, Steptrade Revolution Fund, Astorne Capital VCC—Arven and Aarth AIF, and Chhatisgarh Investments Ltd. contributed Rs 66.15 crore to the company prior to the initial public offering.
