NACDAC Infrastructure IPO Day 2: Check GMP, Subscription Status, Price Band And More

The initial public offering of NACDAC Infrastructure Ltd. opened for subscription on Tuesday and was fully subscribed on Day 1. The SME issue was subscribed over 55 times led by demand from retail and non-institutional investors.

The Rs 10.01-crore IPO is an entirely fresh issue of 28.6 lakh shares with no offer-for-sale component.

The NACDAC Infrastructure IPO price band has been fixed at Rs 33 to Rs 35 with a face value of Rs 10 per share. Retail investors can bid in the IPO with a minimum of 4,000 shares in one lot, taking the minimum investment amount to Rs 1,40,000.

Maashitla Securities Pvt. has been appointed as the registrar for the NACDAC Infrastructure IPO. GYR Capital Advisors Pvt. is the book-running lead manager of the issue and Giriraj Stock Broking Pvt. is its market maker.

The IPO has been subscribed 486.32 times as of 5:05 pm on Wednesday

• Qualified Institutions: 2.74 times

• Non-Institutional Buyers: 427.18 times

• Retail Investors: 779 times

The subscription status will be updated at regular intervals.

NACDAC Infrastructure IPO grey market premium was Rs 40 as of 1:59 p.m. on Wednesday. The current GMP projects a potential listing gain of 114.29%, with the debut price of the NACDAC Infrastructure stock being Rs 75 per share at the upper end of the price band.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

NACDAC Infrastructure IPO was subscribed 57.08 times on Tuesday

• Qualified Institutions: 2.42 times

• Non-Institutional Buyers: 73.69 times

• Retail Investors: 80.58 times

The subscription window for the NACDAC Infrastructure IPO will remain open for bidding till December 19. Share allotment for the issue will be done on December 20.

Shares will be credited to the demat accounts of successful bidders on December 23, and refunds for non-allottees will be initiated on the same day.

NACDAC Infrastructure shares are proposed to be listed on BSE SME on December 24.

NACDAC Infrastructure Ltd. specialises in the construction of multi-storey buildings, and residential, commercial and institutional structures. Its focus areas include civil and structural construction.

It is a Class A contractor registered with Uttarakhand Peyjal Sansadhan Vikas Evum Nirman Nigam. The company has completed 45 projects and worked on projects for the Central and Uttarakhand governments.

NACDAC Infrastructure Ltd. will use the net proceeds from the IPO for working capital requirements and for general corporate purposes.

As of the period ended Oct. 31, in the current fiscal, NACDAC Infrastructure Ltd.'s revenue from operations stood at Rs 13.72 crore, while the net profit during this time was Rs 1.6 crore. 

In fiscal 2024, NACDAC Infrastructure Ltd. reported a revenue of Rs 36.3 crore and a net profit of Rs 3.16 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.