The Indian IPO market is abuzz with activity, offering investors a mix of opportunities across mainstream and SME segments. Two ongoing IPOs – Denta Water and Rexpro Enterprises have caught the market’s attention.
Let’s take a look the key details of these two IPO such as GMP, subscription status, price and other key details
Denta Water IPO Vs Rexpro Enterprises IPO: GMP Update
GMPs often indicate the sentiment around an IPO. Denta Water IPO is trading at a premium of Rs 130, this suggests an estimated listing price of Rs 424 per share, 44.22% above its upper price band of Rs 294 per share.
Also ReadDenta Water IPO GMP drops 44% on Day 2: More on IPO allotment, subscription and other details
On the other hand, Rexpro Enterprises GMP stands at Rs 20, with an anticipated listing price of Rs 165 per share, offering a smaller upside of 13.79% over its upper price band of Rs 145.
“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.
Denta Water IPO Vs Rexpro Enterprises IPO: Key issue details
Both IPOs are currently in their second day of bidding and differ significantly in structure and size.
The Denta Water IPO is a mainboard, book-built issue with a total size of Rs 220.50 crores, entirely raised through a fresh issue.
Talking of the key players of the Denta Water issue, SMC Capitals is the book-running lead manager, while Integrated Registry Management Services acts as the registrar.
On the other hand, the Rexpro Enterprises IPO is an SME, fixed-price issue with a total size of Rs 53.65 crores. This includes a fresh issue of Rs 47.13 crores and an OFS of Rs 6.53 crores. The issue is managed by Horizon Management, with Cameo Corporate Services as the registrar and Giriraj Stock Broking is serving as the market maker.
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