The Rs 114.24-crore initial public offering of Nisus Financial Services Co. opened for bidding on Wednesday and was fully subscribed on Day 1. The SME IPO consists of a fresh issue of 56.46 lakh shares totalling to Rs 101.62 crore, and an offer-for-sale portion of 7.01 shares worth Rs 12.61 crore.
Investors who want to subscribe to the Nisus Financial Services IPO can check these details before placing their bids.
Nisus Financial 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 Financial Services IPO will remain open for bidding between Wednesday and Friday.
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.
The share allotment status is expected to be finalised on 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 Financial Services are likely to be listed on Dec. 11 on BSE SME.
Nisus Financial Services IPO Day 1 Subscription Status
The IPO has been subscribed 2.95 times as of 4:29 pm on Wednesday
Qualified Institutions: 2.89 times
Non-Institutional Buyers: 2.05 times
Retail Investors: 3.41 times
Employee Reserved: 0.10 times
Subscription status will be updated at regular intervals.
Nisus Financial Services IPO GMP
Nisus Financial Services IPO's grey market premium stood at Rs 52 as of 2:24 p.m. on Wednesday. This indicates a potential listing day gain of 28.89%, as the estimated listing price—the sum of GMP and the upper end of the IPO price—has risen to Rs 232 per share - according to InvestorGain.
However, the GMP is not an official price quote for the stock and is based on speculation.
Use Of IPO Proceeds
Nisus Financial 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 Financial 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.
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