Denta Water and Infra solutions, opened for subscription from January 24 to January 27 has created a significant buzz in the market as it continues to gain traction on the second day of subscription.
The price band of this public issue is set between the range of Rs 279 to 294 per share. The three-day offering consists entirely of a fresh issue of shares, with no offer-for-sale component
Denta Water IPO: Subscription on Day 2 so far
Denta Water IPO, now on its Day 2 of bidding, has been subscribed 21.24 times so far. Breaking it down, the retail category received a subscription of 25.38 times so far. Further, the QIB and the NII segment was subscribed at 1.72 times and 54.75 times till now.
On the first day of bidding, the issue saw a strong demand of 17.07 times, with a notable increase in interest from retail and non-institutional investors.
“The company ranks among the top two dental laboratories in India by revenue and is the leading exporter of dental products. We believe that going forward company’s growth factor could be driven by trends such as the changing regulatory requirements in the medical devices sector helps transition from unorganized to organized players, increasing awareness and demand for dental aesthetics, and the growing preference for metalfree dental products. Hence considering all parameters, we recommend the issue can be consider as “SUBSCRIBE for LONG TERM”,” said Anand Rathi research firm in an IPO note.
Also Read: Denta Water IPO Day 02 live updates: Check GMP, subscription status, and other details
Denta Water IPO: GMP
As per the latest trend on day 2, the shares of Denta Water is trading at premium of Rs 150, which indicates an estimated listing price of Rs 444 per share, a 51.02% higher over the issue upper price band of Rs 294 per share.
However, it is important to note that the grey market premium does not represent the official listing price, and market fluctuations are common.
Denta Water IPO Allotment and listing
The Denta Water IPO will conclude its subscription period on January 24, with share allotment set to be finalised on January 27. The tentative listing date is January 29 on both the BSE and the NSE.
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