Denta Water and Infra Solutions IPO Closed
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Schedule of Denta Water and Infra Solutions
| Issue open date | 22 Jan 2025 |
| Issue close date | 24 Jan 2025 |
| UPI mandate deadline | 24 Jan 2025 (5 PM) |
| Allotment finalization | 27 Jan 2025 |
| Refund initiation | 28 Jan 2025 |
| Share credit | 28 Jan 2025 |
| Listing date | 29 Jan 2025 |
| Mandate end date | 08 Feb 2025 |
| Lock-in end date for anchor investors (50%) | 26 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 27 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Denta Water and Infra Solutions
Incorporated in 2016, Denta Water and Infra Solutions Limited specializes in water management and infrastructure solutions, focusing on groundwater recharge projects. The company provides services in project planning, design, and execution, including lift irrigation and wastewater management. Denta Water has completed notable projects such as the Byrapura and Hiremagaluru LIS and is currently involved in several initiatives, including those under the Jal Jeevan Mission. Operating primarily in Karnataka, the company serves both government and private clients, contributing to water conservation and infrastructure development.
Financials of Denta Water and Infra Solutions
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹220.50 crores |
| Fresh Issue | ₹220.50 crores |
| Offer for Sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Tech Advancement | 150.00 (68.03%) |
| Business Development | 70.50 (31.97%) |
Strengths
- Expertise in groundwater recharging and water management projects.
- Completed 32 projects for the Government of Karnataka.
- In-house team for design, engineering, and project management.
- Established client relationships, including with the Karnataka Government.
- Undertakes projects through joint ventures and sub-contracts.
- Utilizes an asset-light business model.
Risks
- Reliance on government contracts, particularly from Karnataka.
- Risk of delays or termination in government contracts.
- Challenges in managing expansion to new regions, including Northern and Southern India.
- Regulatory scrutiny and delayed receivables from government contracts.
- Restrictive covenants in bank guarantees limit business flexibility.
- Past legal proceedings and investigations against the promoter.
- Ongoing SEBI complaints with allegations against promoter and company.
Allotment Status for Denta Water and Infra Solutions
To check your allotment status – click here.
Subscription Figures for Denta Water and Infra Solutions
Subscription numbers as of 5:00 PM on 24 Jan 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 15.00 | 3554.07 | 236.94x |
| HNI (₹2L+) | 11.25 | 5704.31 | 507.05x |
| Retail (upto ₹2L) | 26.25 | 2371.23 | 90.33x |
| Total | 52.50 | 11629.62 | 221.52x |