Denta Water IPO has been subscribed 50.9 times overall by the evening of January 23, the second day of bidding. The issue attracted subscription of 43.94 times in the retail section, and a whopping 128.68 times in the NII category. Today, January 24, is the final day of bidding. On the morning of January 24, Denta Water IPO GMP (Grey Market Premium) stood at Rs 137, which indicated a listing gain of 46.6%. An equity share has been priced at Rs 294 and the allotment date is January 27.
Denta Water IPO is designed to mop up Rs 220.50 crore. It got fully subscribed within minutes of the bidding process kicking off on January 22. It ended the first day of bidding with 17.29% overall subscription. It could mop up Rs 66 crore from anchor investors a day before the bidding process opened. The listing of shares will take place on both BSE and NSE on January 29. Refund of bid money to unsuccessful bidders will take place on January 28, Successful bidders will get shares in their demat account on January 28.
Dental Water IPO GMP
Investorgain data show that despite the enthusiasm of the investors reflected by subscription status and anchor investor participation, the GMP has been inching down over the past few days. On January 21, the GMP was recorded at Rs 165. On the morning of January 23, Denta Water IPO GMP came down at Rs 150. Considering an issue price of Rs 294, the listing price of Denta Water IPO would have been Rs 444, fetching a listing gain of 51.02%. On the morning of January 24, the GMP further climbed down to Rs 137, that signalled a listing gain of 46.6%. One must remember that GMP is an unofficial indicator that can change with time and does not guarantee listing gain (or loss).
Denta Water IPO price, lot
The price band of a share of Denta Water and Infra Solutions IPO was set at Rs 279-294. The minimum investible lot for a retail investor consists of 50 shares which will cost him/her Rs 14,700. For sNII investors, the smallest lot has 700 shares (or 14 lots) costing Rs 2,05,800 and for bNII category of investors, the minimum lot is 3,450 shares whcih needs an application money of Rs 10,14,300. SMC Capitals is the book running lead manager, while Integrated Registry Management Services is the registrar for the issue.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
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