As of January 24, 2025, the Denta Water and Infra Solutions Limited IPO is experiencing significant interest in the grey market. Here’s a detailed analysis:
1. Grey Market Premium (GMP) Overview
- Current GMP: The shares are trading at a premium of ₹137 over the upper IPO price band of ₹294, indicating a potential listing price of ₹431 per share.
- GMP Trend: The GMP has shown an upward trend over the past eight sessions, with a minimum of ₹45 and a maximum of ₹165, suggesting increasing investor confidence.
2. Subscription Status
- Overall Subscription: By the third day, the IPO was subscribed 51.47 times, reflecting strong demand.
- Investor Categories:
- Retail Investors: Subscribed 52.93 times.
- Non-Institutional Investors (NII): Subscribed 183.90 times.
- Qualified Institutional Buyers (QIB): Subscribed 4.86 times.
3. Analyst Recommendations
- Anand Rathi: Recommends a “Subscribe-Long term” rating, citing the company’s expertise in water management projects and a strong order book.
Conclusion
The Denta Water IPO’s strong grey market premium and high subscription rates indicate robust investor interest. However, it’s essential to consider that grey market trends are unofficial and can be volatile. Investors should conduct thorough due diligence and consult financial advisors before making investment decisions.
