Denta Water and Infrastructure Solutions Ltd is gearing up for its IPO, scheduled to open for public subscription on January 22. The firm has set a price band of Rs 279 to Rs 294 per share for its initial offering.
The IPO, composed entirely of a fresh issue of 75 lakh equity shares, could raise approximately Rs 220.5 crore if priced at the upper limit. A significant portion of the proceeds, Rs 150 crore, is earmarked for working capital needs and some corporate purposes.
Denta Water, established in 2016, has positioned itself as a leading player in water Engineering, Procurement, and Construction services. The company completed 32 water management projects, with allocations for institutional (50%), retail (35%), and non-institutional (15%) investors. SMC Capitals is managing the issue as the sole lead.
(With inputs from agencies.)