The SME initial public offer (IPO) of NACDAC Infrastructure was fully subscribed on Thursday with an overall subscription of 896.28 times by 12:25 PM on the final day of bidding. The IPO is completely a fresh issue worth Rs 10 crore, with shares set to list on the BSE SME platform.
Subscriptions from retail investors stood at 1,437.20 times, while the non-institutional investors subscribed to the issue 822.60 times on the final day of bidding. Meanwhile, the qualified institutional buyers had made 6.30 times bids.
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NACDAC Infrastructure IPO size
The IPO is completely a fresh equity sale of 28.6 lakh shares and through the issue, the company plans to raise Rs 10 crore.
NACDAC Infrastructure IPO: Price band
The company is offering its shares at Rs 33-35 apiece, and investors can bid for 4,000 shares in 1 lot.
NACDAC Infrastructure IPO: GMP
Ahead of the issue, NACDAC Infrastructure’s unlisted shares were trading at Rs 77 per share on Thursday in the unofficial market, reflecting a grey market premium (GMP) of 120% against the upper end of the IPO price band of Rs 35.
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NACDAC Infrastructure IPO: Net proceeds
The net proceeds from the public offer will be used for working capital requirements and general corporate purposes.
NACDAC Infrastructure IPO: Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors and the other 15% for non-institutional investors.
NACDAC Infrastructure IPO: Opening date, allotment, listing date
The IPO opened on December 17 and will close on December 19. The final allotment will likely be made on December 20. The company’s shares will be listed on the BSE SME platform on December 24.
About NACDAC Infrastructure
NACDAC Infrastructure is primarily a core-construction company specializing in a comprehensive range of civil and structural services. Its core offerings encompass the construction of multi-story buildings, electrical works (both LowTension & High-Tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works.
Read More: NACDAC Infrastructure IPO subscribed 896 times on day 3. Check GMP and other details
NACDAC Infrastructure IPO: Industry overview
Under NIP, India has an investment budget of $1.4 trillion on infrastructure – 24% on renewable energy, 18% on roads & highways, 17% on urban infrastructure, and 12% on railways. 54 global innovative construction technologies identified under a technology sub-mission of PMAY-U to start a new era in Indian construction technology sector.
NACDAC Infrastructure IPO: Financial performance
For the period ended June 2024, the company clocked total revenues of Rs 13.71 crore and net profit of Rs 1.6 crore.
NACDAC Infrastructure IPO: Lead managers and registrar
GYR Capital Advisors is acting as the lead manager to the issue and Maashitla Securities is the registrar.
