Subscribe for Denta Water and Infra Solution Ltd IPO; Anand Rathi

Anand Rathi, Denta Water and Infra Solution Ltd

Established in 2016, Denta Water and Infra Solutions Limited, commonly known as "Denta Water," has emerged as one of the key players in the field of water engineering, procurement, and construction (“EPC”) services. With a meritorious track record in infrastructure project installations, including groundwater recharging through recycled water, Denta Water has been a contributor to addressing the rising demand for water-related solutions in the country. Their notable achievements encompass pivotal projects like the Byrapura and Hiremagaluru LIS Project, Karagada LIS Project, and others, primarily executed through lift irrigation systems. Notably, Denta Water played a substantial role in the first phase of the KC Valley project, contributing to Bengaluru's reputation as the second-largest city globally in terms of treated wastewater quantity. Their significant involvement in the "Jal Jeevan Mission" of the Government of India reflects their commitment to critical water management initiatives. Furthermore, Denta Water secured contracts for lift irrigation projects in various regions, such as Makali, Makali Hosahalli, Krishnapura, Karnataka, and neighbouring villages in the Channapatna Taluk of Ramanagar District, Karnataka. Their growth is inherently linked to the nation's infrastructure development, with a focus on design and engineering consultancy that aligns with the ongoing and anticipated projects in the Karnataka Government's water management sector.

Valuation and Outlook

At the upper price band company is valuing at P/E of 13.14x, with an EV/EBITDA of 9.13x and market cap of ₹ 7,849 million post issue of equity shares and return on net worth of 36.36%. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO.

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Denta Water and Infra Solution -210125 - anand