Denta Water And Infra Solutions Sets Price Band For IPO
The water and infrastructure solutions company will open for subscription on Jan. 22 and will close on Jan. 24.
Denta Water and Infra Solutions Ltd. has set a price band of Rs 279 to Rs 294 per share with a face value of Rs 10 each for its maiden initial public offering.
The water and infrastructure solutions company will open for subscription on Jan. 22 and will close on Jan. 24. The IPO comprises only a fresh issue of equity shares of up to 75 lakh, and will have no offer-for-sale component. The equity shares are proposed to be listed on the National Stock Exchange of India Ltd. and BSE Ltd.
Proceeds from its fresh issuance to the extent of Rs 150 crore will be utilised for meeting working-capital requirements, and general corporate purpose.
SMC Capitals Ltd. is the sole book-running lead manager, and Integrated Registry Management Services Pvt. is the registrar for the issue.
The company has emerged as a key player in the field of water engineering, procurement and construction services. It has contributed to addressing the rising demand for water-related solutions in the country, with a meritorious track record in infrastructure project installations, including groundwater recharging through recycled water.
According to its website, Denta Water has completed 32 water management projects out of which 11 projects are as the main contractor, one project has been undertaken under a consortium or joint venture arrangement and 20 projects have been undertaken under a sub-contract arrangement with the main contractor.
The company's revenue from operations in financial year 2024 stood at Rs 238.60 crore, while in the first six months of this fiscal, the Bengaluru-based company reported a revenue of Rs 97.8 crore. Profit in the first six months was Rs 24.2 crore, while profit for fiscal 2024 stood at Rs 59.7 crore.
