Denta Water and Infra Solutions Ltd has set a price band of Rs 279-294 per share for its upcoming Initial Public Offering (IPO). The IPO will open for subscription on January 22 and close on January 24. Anchor investor bidding will begin on January 21.
The IPO comprises a pure fresh issue of 75 lakh shares and the issue size is pegged at Rs 220.50 crore at the upper price band. The company will use Rs 150 crore for working capital purpose out of this, Rs 50 crore it plans to utilised in the present financial year itself and Rs 100 crore for the next one year.
Denta Water is mainly engaged in the business of EPC services for water management. The company has completed 27 projects as of October 2023 and is presently executing 22 projects with a total contract value of Rs 984.23 crore. Of these, Rs 976.7 crore relates to water management projects, and Rs 7.54 crore is for the infrastructure work appurtenant to railways and roadways.
It has already executed Rs 211.3 crore of work, thus leaving Rs 772.94 crore worth of order book outstanding. Denta Water shares are going to get listed on January 29, against the finalisation of allotments and credit to demat account on January 27.
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Source: Moneycontrol
News Desk
