Nisus Finance Services Share Price Lists At 25% Premium On BSE
The Nisus Financial Services IPO saw a huge response from investors, with a massive demand from non-institutional investors.
Share price of Nisus Finance Services Co. made a strong debut on the BSE SME on Wednesday. The stock listed at Rs 225 on the platform, with a premium of 25% over the issue price of Rs 180.
After the listing of the stock, investors who were allotted one lot in the Nisus Finance Services IPO would have made profits of Rs 36,000 with their investment of Rs 1,44,000 turning to Rs 1,80,000.
Shares of Nisus Finance Services Co. further hit a 5% upper circuit to touch an intraday high of Rs 236.25 apiece on the BSE.
Nisus Finance Services IPO GMP
Ahead of the listing, Nisus Finance Services IPO GMP hinted at a premium of Rs 95 or 52.78% over the upper price band. As per InvestorGain, the indicative listing price of the initial public offering of Nisus Finance Services was coming at Rs 275 apiece before the listing. However, the stock listed lower than the GMP expectation.
Notably, GMP or grey market price is not an official price quote for the stock and is based on speculation.
Nisus Finance Services IPO Details
The initial share sale of the Nisus Finance Services Co. opened for subscription on Dec. 4 and closed on Dec. 6, following a three-day bidding period. The share allotment for the issue was done on Dec. 9.
The Nisus Finance Services IPO saw a huge response from investors, with a massive demand from non-institutional investors.
The offer was subscribed 192.29 times over the bidding period. It was booked 451.21 times in the non-institutional investors category. Retail investors subscribed their portion by 139.78 times, while qualified institutional buyers overbooked their quota by 93.84 times.
The public offer comprised a fresh issue of 56.46 lakh shares worth Rs 101.62 crore and an offer for sale portion of 7.01 lakh shares aggregating to Rs 12.61 crore.
Nisus Finance Services IPO price band had been fixed at Rs 170 to Rs 180 per share.
Skyline Financial Services Pvt. was the registrar for the Nisus Finance Services IPO. Beeline Capital Advisors Pvt. served as the book-running lead manager of the issue while Spread X Securities was its market maker.
Nisus Finance Services IPO: Use of Funds and Proceeds
Nisus Finance Services will use the proceeds from the IPO to augment its fund setup, additional licences, facility management services and fund management infrastructure in IFSC-Gift City (Gandhinagar), DIFC-Dubai (UAE) and FSC-Mauritius.
They will also be used towards fundraising costs, distribution and placement fees to third-party distributors or agents in India and/or international markets for the creation of a pool of funds.
The company will also invest in its subsidiary Nisus Fincorp Pvt. to augment its capital base. The rest of the funds will be used for general corporate purposes.
About Nisus Finance Services Co.
Nisus Finance Services Co. deals with financial services including transaction advisory services, fund and asset management, private equity and venture debt, as well as capital solutions to corporate clients.
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.
