Denta Water & Infra Solutions’ much-awaited IPO allotment status has finally been declared today, after a slight delay. Investors were eagerly awaiting this update as the company’s shares are set to be listed on January 29. Let’s take a deep dive into all the key details surrounding the IPO, its allotment status, and what to expect next.
What is the Denta Water & Infra IPO?
Denta Water & Infra Solutions Ltd., established in 2016, is a prominent player in the field of water engineering, procurement, and construction (EPC) services. The company’s IPO is a fresh issue of 75 lakh equity shares, valued at Rs 220.5 crore, at the upper end of the price band. The company aims to raise funds to meet its working capital requirements and for general corporate purposes.
The IPO Allotment Process
The Denta Water & Infra IPO allotment status was expect to finalize today, January 28, ahead of its January 29 listing. However, due to heavy traffic on the registrar’s website, the results were delayed a few hours. According to an official at the registrar’s office, the delay was caused high website traffic from anxious investors waiting for the allocation details.
How to Check Denta Water & Infra IPO Allotment Status?
Investors who subscribed to the IPO can easily check their allotment status on the registrar’s official website, Integrated Registry Management Services, or through the BSE and NSE websites. Let’s go through the steps on how to check the status:
Check IPO Allotment Status via Integrated Registry Management Services
- Visit the Integrated Registry Management Services website.
- Enter your application number or PAN details.
- Submit your request.
- The status will appear on the screen.
Check’s IPO Allotment Status via BSE
- Go to the Bombay Stock Exchange website.
- Navigate to ‘Investors’ and click on ‘Status of Issue Application.’
- Select ‘Application Status Check’ and choose ‘Equity’ as the issue type.
- Enter your PAN number and the IPO name, then click ‘Search’ to view the status.
Check IPO’s Allotment Status via NSE
- Open the NSE website and navigate to the IPO section.
- Register with your details.
- Select Denta Water & Infra Solutions.
- Enter your IPO application number.
- Click on ‘Submit’ to view the status.
What Led to the Delay in IPO Allotment Status?
The delay in the IPO allotment status declaration was attributed to heavy traffic on the registrar’s website, which caused a delay in uploading the details. The registrar clarified that they were in the process of uploading the allotment information, and the issue should resolve soon.
IPO Subscription and GMP (Grey Market Premium)
The Denta Water & Infra IPO was hugely oversubscribe, with a subscription rate of 221.52 times. This indicates the high demand for the company’s shares. Market observers have also noted that Denta Water & Infra shares are commanding a significant grey market premium (GMP), standing at about 25 percent. Investorgain quoted a GMP of Rs 72, which translates to a potential listing premium of 24.48 percent.
However, it’s important to note that the final listing price may vary depending on market conditions on the day of the listing.
How GMP Influences Investors
GMP plays a crucial role in an IPO’s performance on listing day. It gives investors an indication of how the stock might perform on the day it gets list. For Denta Water & Infra, the strong GMP suggests that the shares may open higher than the issue price. However, investors should be cautious as GMP is only an unofficial indicator and the final listing price depends on market demand and supply.
Use of IPO Proceeds
Denta Water & Infra plans to use a significant portion of the funds raised through the IPO for working capital requirements. The remaining funds will utilize for general corporate purposes, helping the company strengthen its position in the market and fund future growth initiatives.
Denta Water & Infra’s Business Outlook
Since its inception, Denta Water & Infra has carved out a niche in the EPC sector, with a focus on water engineering. As one of the key players in this domain,
the company has positioned itself well to capitalize on the growing demand for water infrastructure projects. The proceeds from this IPO will support the company’s efforts to expand its reach and enhance its service offerings.
Denta Water & Infra IPO Allotment: What Investors Need to Know
Now that the Denta Water & Infra IPO allotment status has declare, here are a few important points to keep in mind:
- IPO Allotment: Investors who subscribed to the IPO should check their allotment status via the BSE, NSE, or Integrated Registry Management Services websites.
- GMP: The Grey Market Premium is an unofficial indicator that suggests strong demand for Denta Water & Infra shares. It may provide a hint of what the listing day might look like.
- Proceeds Utilization: The funds raised will help the company fulfill its working capital needs and support its general corporate purposes, boosting its future growth prospects.
Read More: Denta Water IPO Allotment Delayed: Why Is It Taking Longer?
Conclusion
The Denta Water & Infra IPO has been a much-awaited event, with strong demand reflected in its oversubscription rate and solid GMP. Despite a brief delay in the IPO allotment status, the company is set for a listing that could offer significant returns for investors. By checking the allotment status on the appropriate websites,
investors will soon know whether they’ve received their shares. Whether you’re a seasoned investor or a first-time IPO subscriber,
staying updated on the latest developments is key.
