NACDAC Infrastructure IPO: Subscription Zooms 2000 Times; GMP Soars 140%

The initial public offering of NACDAC Infrastructure Ltd. which opened for subscription on Tuesday will close on Thursday. The SME issue has so far received a tremendous response from the investors with the IPO getting subscribed over 2000 times.

The demand for the IPO is led by non-institutional buyers as well as retail investors who have bid for over 1,61,87,16,000 shares against 4,00,000 shares offered and 2,18,05,96,000 shares against the 9,40,000 shares offered respectively, as of 3:27 p.m. today.

The initial public offering of NACDAC Infrastructure became the most subscribed SME IPO after beating Hariom Atta & Spices IPO (HOAC Foods IPO) which saw an overall subscription of 2,013.64 times.

Toss The Coin IPO and Hamps Bio IPO were the other two SME issues which opened in Dec. 2024 that crossed the 1000 subscription mark with the latter getting booked IPO 1057 times.

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.

The IPO has been subscribed 2209.76 times on Thursday.

• Qualified Institutions: 236.39 times

• Non-Institutional Buyers: 4084.46 times

• Retail Investors: 2503.66 times

Subscription status will be updated at regular intervals.

NACDAC Infrastructure IPO grey market premium was Rs 50 at 6:28 p.m. on December 19. The current GMP projects a potential listing gain of 142.86%, with the debut price of the NACDAC Infrastructure stock being Rs 85 per share at the upper end of the price band.

The GMP trends remained the same since the IPO opened for subscription on December 17 but as the issue garnered huge subscriptions, it climbed.

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

The IPO was subscribed 486.32 times on Wednesday

• Qualified Institutions: 2.74 times

• Non-Institutional Buyers: 427.18 times

• Retail Investors: 779 times

The allotment for the NACDAC Infrastructure IPO is expected to be finalised on Friday, December 20. Shares of NACDAC Infrastructure will list on BSE SME with Tuesday, December 24 as the anticipated listing date.

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.

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.

NACDAC Infrastructure Ltd. specialises in constructing 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.