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Bengaluru-based Denta Water and Infra Solutions, which focuses on water management and infrastructure projects, witnessed strong demand for its IPO as it garnered bids for 221.54 times. As a result, the stock debuted with a 12% premium following a highly subscribed IPO. However, the stock failed to keep the initial momentum as it ended in the red in most days post the listing.
Barring two sessions, the stock has lost value in all sessions since January 29. The company currently commands a market capitalisation of ₹820 crore.
Also read: Denta Water & Infra shares list at 12% premium over IPO priceDomestic brokerages including SBI Securities and Anand Rathi had recommended subscription to the issue considering the strong growth in the sector. According to SBI Securities, the Indian water and wastewater treatment market, is expected to expand at a CAGR (compound annual growth rate) of 6.2% between 2024-2030.
The revenue of the company has registered a compounded growth of 41.3% from ₹119.6 crore in FY22 to ₹2,38.6 crore in FY24. Similarly, EBITDA (earnings before interest, taxes, depreciation and amortization) grew at a CAGR of 23.4% from ₹51.8 crore in FY22 to ₹79.1 crore in FY24.
Founded in 2016, Denta Water and Infra Solutions Ltd has emerged as one of the key players in the field of water engineering, procurement, and construction (EPC) services. It has completed 32 water management projects, out of which 11 projects were undertaken as the main contractor, one project under a consortium/joint venture arrangement and 20 projects undertaken under a sub-contract arrangement with the main contractor.
The stock of Denta Water and Infra Solutions is currently trading at ₹303 on the NSE, down 6.4% from the previous close.
