Historic Subscription! This Rs 10-Crore SME IPO Receives Bids Worth Rs 14,300 Crore – News18

Last Updated:December 19, 2024, 20:19 IST

NACDAC Infrastructure IPO: Retail investors subscribed 2,503.68 times, NIIs an astounding 4,084.36 times, and QIBs an impressive 236.39 times, reflecting unprecedented demand across categories.

NACDAC Infrastructure IPO Subscription Status, GMP Today: The Rs 10-crore NACDAC Infrastructure IPO has made history with one of the highest subscription levels ever recorded. In a stunning display of investor enthusiasm, the construction company’s Rs 10-crore SME IPO garnered bids worth an astronomical Rs 14,385.43 crore, a feat that underscores its blockbuster appeal.

Launched between December 17 and December 19, the IPO offered 18.6 lakh shares to raise Rs 10.01 crore. By the close of the three-day bidding period on Thursday, the BSE IPO ended up receiving bids for an astonishing 411.01 crore shares, achieving a jaw-dropping oversubscription of 2,209.74 times.

NACDAC Infrastructure Ltd, which specialises in the construction of multi-story buildings, residential, commercial, and institutional structures, posted a net profit of Rs 3.16 crore in the financial year 2023-24 and a revenue of Rs 36.33 crore.

NACDAC Infrastructure IPO: Meteoric Response Across Investor Categories

The IPO witnessed an overwhelming response across all investor categories:

Retail Investors has been subscribed by an eye-popping 2,503.68 times, showcasing unparalleled demand from this segment.

Non-Institutional Investors (NII) recorded a meteoric 4,084.36 times subscription.

Qualified Institutional Buyers (QIB) achieved an impressive 236.39 times subscription.

The price band for the IPO was set at Rs 33 to Rs 35 per share, making it an attractive proposition for investors.

NACDAC Infrastructure IPO GMP Today

In the grey market, the unlisted shares of NACDAC Infrastructure Ltd are currently trading at Rs 77, reflecting a premium of Rs 42 (52.3%) over the upper price band of Rs 35. This suggests a spectacular listing on December 27, with potential gains of more than double the IPO price.

Also Read: Five IPOs Open Today: Detailed Comparison Of GMP, Subscription Status; Which One To Apply?

The IPO will be listed on the BSE SME platform on December 24, while its allotment will likely be finalised on December 20.

NACDAC Infrastructure IPO: More Details

The IPO is entirely a fresh issue of 28.60 lakh shares. Its bidding started on December 17, 2024 and ended on December 19, 2024.

NACDAC Infrastructure IPO will list on BSE SME with tentative listing date fixed as Tuesday, December 24, 2024.

The price band of the IPO was fixed at Rs 33 to Rs 35 per share. The minimum lot size for an application is 4,000. The minimum amount of investment required by retail investors is Rs 1,40,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to Rs 2,80,000.

GYR Capital Advisors Private Limited is the book-running lead manager of the NACDAC Infrastructure IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for NACDAC Infrastructure IPO is Giriraj Stock Broking Private Limited.

On Wednesday, markets regulator Sebi’s board approved a series of measures including stricter regulatory norms for SME IPOs. Sebi has decided to introduce profitability criteria for companies planning to come out with an IPO, put a limit on offer-for-sale (OFS) and introduce phased lock-in for promoters.

In August also, the IPO of a New Delhi-based bike showroom Resourceful Automobile’s Rs 12-crore SME IPO received investor bids of over Rs 4,700 crore. The company operates just two Yamaha showrooms in New Delhi.