The News Source You've Been Waiting For


Denta Water and Infra Solutions files draft papers for IPO

Bengaluru-based Denta Water and Infra Solutions Ltd has filed its draft red herring prospectus with Securities and Exchange Board of India to raise funds through initial public offering (IPO).

The public offer from a water engineering, procurement, and construction services provider is entirely a fresh issue of up to 75 lakh shares.

The proceeds from the fresh issue, to the extent of ₹150 crore, will be used to meet working capital requirements.

The company, in consultation with the lead bankers to the issue, may consider a further issue of equity shares on a private placement, rights issue, preferential issue, or any other method aggregating up to 11 lakh shares (pre-IPO placement). If such placement is completed, the fresh issue size will be reduced, it said.

Also read: Time to book profit and exit mid- and small-cap companies, says Kotak Alternate Asset Honcho Jitendra Gohil

Denta Water and Infra Solutions, established in 2016, has completed 16 water management projects, mainly in Karnataka, and is presently undertaking 19 water management projects that are in various stages of implementation.

It participates in tenders for developing projects such as infrastructure for groundwater recharging, lift irrigation, and infrastructure for supplying drinking water to various habitations under Jal Jeevan Mission.

SMC Capitals Limited is the sole book-running lead manager, and Integrated Registry Management Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.


Your email address will not be published. Required fields are marked *