Bengaluru-based Denta Water and Infra Solutions Limited, a prominent player in the water engineering sector, has taken a significant step toward its growth by filing a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company, established in 2016, specializes in water engineering, procurement, and construction (EPC) services, with a focus on addressing the increasing demand for water-related solutions in the country.
The IPO, with a face value of Rs 10, consists entirely of a fresh issue of up to 7.5 million equity shares, with no offer for sale (OFS) component. The funds raised through the IPO, with an upper limit of Rs 150 crore, will primarily be directed toward meeting the company’s working capital requirements. Additionally, the company, in coordination with lead bankers, may consider a pre-IPO placement of up to 1.1 million equity shares, potentially reducing the size of the fresh issue.
The company’s expertise extends to groundwater recharging using recycled water, and it has actively participated in tenders related to projects such as lift irrigation, infrastructure for groundwater recharging, and supplying drinking water under the “Jal Jeevan Mission.” Notably, Denta Water has been awarded two projects under this mission, namely the “Kerehalli Drinking Water Project” and the “Chikkabenakal Drinking Water Project.”
