Nisus Finance Services IPO Concludes: Issue Booked Over 190 Times: Check GMP, Allotment Date
Nisus Finance Services IPO's grey market premium stood at Rs 95 on Friday.
The Rs 114.24-crore initial public offering of Nisus Finance Services Co. that opened for bidding on Wednesday concluded it's subscription with overwhelming response from investors. The SME issue was booked 192.29 times on Friday. The demand for the IPO was driven by non-institutional investors. The SME issue was subscribed 3.16 times on its opening day on Tuesday.
The SME IPO consists of a fresh issue of 56.46 lakh shares totaling to Rs 101.62 crore and an offer-for-sale portion of 7.01 shares worth Rs 12.61 crore.
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Nisus Finance Services IPO Day 3 Subscription Status
The IPO has been subscribed 192.29 on Friday
Qualified Institutions: 93.84 times
Non-Institutional Buyers: 451.21 times
Retail Investors: 139.78 times
Employee Reserved: 0.90 times
Subscription status will be updated at regular intervals.
Nisus Finance Services IPO GMP
Nisus Finance Services IPO's grey market premium stood at Rs 95 on Friday. This indicates a potential listing day gain of 52.78%, as the estimated listing price—the sum of GMP and the upper end of the IPO price—has risen to Rs 275 per share - according to InvestorGain.
However, the GMP is not an official price quote for the stock and is based on speculation.
Nisus Finance Services IPO: Key Details
The price band for the IPO has been fixed at Rs 170 to Rs 180 per share. Retail investors need to apply for at least a single lot of 800 shares, taking the minimum investment amount to Rs 1,44,000.
The Nisus Finance Services IPO will remain open for bidding between Wednesday and Friday.
As per the company's red herring prospectus, of the 63,46,400 shares offered -- 18.82% is reserved for Qualified Institutions, 14.12% is reserved for Non-institutional Buyers, 32.95% for Retail Investors, 0.38% for employees reserved category and 28.2% for Anchor investors.
Skyline Financial Services Pvt. is the registrar for the issue, whereas Beeline Capital Advisors Pvt. is the book-running lead manager. Asnani Stock Broker is its market maker.
Nisus Finance Services IPO Day 2 Subscription Status
The IPO was subscribed 20.30 times on Thursday
Qualified Institutions: 3.41 times
Non-Institutional Buyers: 22.88 times
Retail Investors: 29.07 times
Employee Reserved: 0.73 times
Nisus Finance Services IPO: Allotment And Listing Date
The share allotment status of Nisus Finance Services IPO is expected to be finalised on Monday, Dec. 9.
Shares will be credited to the demat accounts of successful bidders on Dec. 10, while refunds will also be initiated for non-allottees the same day.
Shares of Nisus Finance Services are likely to be listed on Wednesday, Dec. 11 on BSE SME.
Nisus Finance Services IPO Day 1 Subscription Status
The IPO was subscribed 3.16 times on Wednesday
Qualified Institutions: 2.89 times
Non-Institutional Buyers: 2.22 times
Retail Investors: 3.75 times
Employee Reserved: 0.10 times
Use Of IPO Proceeds
Nisus Finance Services will use the proceeds from the fresh issue of shares to augment fund setup, additional licences, and facility management services, and for fund management infrastructure in IFSC-Gift City, DIFC-Dubai and FSC-Mauritius.
The proceeds will also go towards fundraising cost, distribution and placement fee to third party distributors or agents in India or international markets for creation of a pool of funds.
The company will further invest in its subsidiary Nisus Fincorp Pvt. to augment its capital base.
The rest of the funds will be used for general corporate purposes.
Business & Financials
Nisus Finance Services was originally incorporated as Molior Realty Pvt. in 2013. The company provides financial services including transaction advisory services, fund and asset management services, private equity and venture debt, and capital solutions to corporate clients.
In the quarter ended June 30, 2024, the company reported a total income of Rs 15 crore. Its net profit stood at Rs 8.31 crore.
In fiscal 2024, the revenue rose 266.11% to Rs 42.25 crore from Rs 11.54 crore in the preceding financial year. The company’s net profit increased multifold to Rs 23.87 crore from Rs 3 crore in fiscal 2023.
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.
