NACDAC Listing: Most Subscribed SME Stock Makes Bumper Debut At Upper Limit
Bidders who were allotted at least one lot of the IPO would have made profit of Rs 1,26,000 with their investment of Rs 1,40,000
Shares of NACDAC Infrastructure Ltd. made a stellar debut on BSE SME on Tuesday, Dec. 24, after emerging as the most subscribed SME IPO in India’s history. The stock listed at Rs 66.5 on the BSE, with a premium of 90% over the issue price of Rs 35.
Following the listing of the shares, bidders who were allotted at least one lot of the IPO would have made profits of Rs 1,26,000 with their investment of Rs 1,40,000 turning to Rs 2,66,000.
Shares of NACDAC Infrastructure Ltd. further hit the 5% upper circuit to trade at Rs 69.82 apiece on the BSE at 10:04 am.
NACDAC Infrastructure IPO Details
The initial share sale opened for subscription on Dec.17 and closed on Dec. 19.
The NACDAC Infrastructure IPO saw a mega response from investors, becoming the most subscribed SME IPO of all time.
The issue saw massive subscriptions over the three-day bidding period, with investors oversubscribing the offer by 2,209.76 times. It was booked 4,084.36 times in the non-institutional investors category. Retail investors subscribed their portion by 2,503.6 times, while qualified institutional buyers (QIBs) booked their quota by 236.3 times.
The public offer was an entirely fresh issue of 28.6 lakh shares amounting to Rs 10.01 crore.
NACDAC Infrastructure IPO price band was fixed between Rs 33 to Rs 35 per share.
Share allotment for bidders was finalised on Dec. 20. Maashitla Securities Pvt. was appointed as the registrar for the NACDAC Infrastructure IPO.
NACDAC Infrastructure IPO: Use of Funds and Proceeds
NACDAC Infrastructure Ltd. will use the proceeds garnered from the IPO for working capital requirements and general corporate purposes.
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About NACDAC Infrastructure Ltd.
NACDAC Infrastructure Ltd., a construction company established in 2012, builds multi-story buildings, and residential, commercial, and institutional structures. The company focuses on areas including civil and structural construction.
It is a Class A contractor registered with Uttarakhand Peyjal Sansadhan Vikas Evum Nirman Nigam, having completed 45 projects. It has also worked with the central and Uttarakhand governments for projects.
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.
