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The initial public offer (IPO) of Denta Water and Infra Solutions received 8,93,75,450 bids for shares as against 52,50,000 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (22 January 2025). The issue was subscribed 17.02 times. The issue opened for bidding on 22 January 2025 and it will close on 24 January 2025. The price band of the IPO is fixed between Rs 279 and 294 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof. The IPO is entirely a fresh issue of equity shares up to 75,00,000 with no offer-for-sale component. The proceeds from its fresh issuance to the extent of Rs 150 crore will be utilized for meeting working capital requirements and general corporate purposes, subject to the applicable laws. Ahead of the IPO, Denta Water and Infra Solutions on Tuesday, 21 January 2025, raised Rs 66.15 crore from anchor investors. The board allotted 22.50 lakh shares at Rs 294 each to 10 anchor investors. Denta Water and Infra Solutions (DWISL) is one of the key players in the field of water engineering, procurement, and construction ('EPC') services. It is a growing water and infrastructure solutions company engaged in design, installation and commissioning of water management infrastructure projects with expertise in ground water recharging projects and lift irrigation projects. It is one of the few companies in India having experience and expertise in design, installation, commissioning, operations and maintenance of ground water recharging using recycled water. In addition, it also undertakes construction projects in the field of railways (improvement of infrastructure) and highways (roads and bridges construction). The firm reported a consolidated net profit of Rs 24.20 crore and sales of Rs 97.78 crore for the six months ended on 30 September 2024. Powered by Capital Market - Live News
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