DENTA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Denta Water and Infra Solutions has filed the Monitoring Agency Report (by CARE Ratings) on how it used its Rs. 220.50 crore IPO proceeds, raised in January 2025. The company has fully deployed the funds, with Rs. 32.06 crore utilized in Q3 FY26 alone, and no deviation from the original objects (Rs. 150 cr working capital, Rs. 45.34 cr general corporate purposes, Rs. 25.16 cr issue expenses). However, the report flags that the company has sought Extension of Time (EoT) for 4 projects from its counterparties, with an outstanding receivable of Rs. 169.51 crore tied to them. Net working capital has nearly doubled as of December 31, 2025 versus March 31, 2025, because billing and collection have been slow and completed work is sitting in inventory.
Full and on-object deployment of IPO funds is a neutral-to-positive sign, but the sharp jump in working capital and pending EoT approvals for projects worth Rs. 169.51 crore point to cash flow and receivables stress, which investors should track closely for any impact on future earnings or stock price.