NACDAC Infrastructure IPO booked over 57x; check day 1 subscription status, price band, offer size and listing date

The initial public offering (IPO) of NACDAC Infrastructure Ltd saw a strong demand on the first day of bidding on Tuesday, December 17, as the issue was fully subscribed within hours of launch.

At the end of bidding on the first day at 5pm, the issue was overall subscribed 57.25 times, led by high retail demand.

The ₹10.01-crore IPO will close for bidding on December 19.

The BSE SME issue received bids for more than 10.64 crore shares against 18.6 lakh shares on offer.

The Qualified Institutional Buyers (QIBs) booked their category 2.42 times with bids for 12.6 lakh shares against 5.2 lakh shares set aside for them. The Non-Institutional Inventors’ (NIIs) category was booked 73.69 times with bids for nearly 2.95 crore shares against 4 lakh shares on offer. The retail portion of the IPO was booked 80.58 times. The retail investors applied for over 7.57 crore shares against the allocation of 9.4 lakh shares.

Here’s a look at all the key details about the SME IPO for the investors interested in applying for the shares of NACDAC Infrastructure Ltd.

NACDAC Infrastructure raises ₹10.01 crore from anchor investors

Ahead of the launch of its IPO, NACDAC Infrastructure raised ₹2.73 crore from the anchor investors on December 16.

The company allotted 7.8 lakh equity shares to two anchor investors at ₹35 apiece, the upper limit of the IPO price band.

Vikasa India EIF I Fund - Incube Global Opportunities and Al Maha Investment Fund PCC - ONYX Strategy were the two anchor investors.

NACDAC Infrastructure IPO price band and other details

NACDAC Infrastructure IPO comprises only a fresh issue of 28.6 lakh shares, aggregating to ₹10.01 crore. The issue does not include any offer for sale (OFS) component.

The company has fixed the IPO price band at ₹33 to ₹35 per share. The retail investors need to apply for at least a single lot size of 4,000 shares, aggregating to a minimum investment of ₹1,40,000.

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

NACDAC Infrastructure IPO key dates

The IPO allotment status is expected to be finalised on Friday, December 20. Refunds will be issued on Monday, December 23, 2024, and the allottees will also receive shares in their Demat accounts the same day.

The company has proposed to list its shares on the BSE SME platform on Tuesday, December 24.

About NACDAC Infrastructure and use of IPO proceeds

Established in 2012, NACDAC Infrastructure is a construction company. It provides end-to-end solutions for a broad spectrum of construction and infrastructure development projects.

The company has proposed to utilise the net proceeds from the IPO for working capital requirements as well as general corporate purposes.

The company’s revenue stood at ₹13.76 crore for the seven-month period ending October 31, 2024, while the net profit stood at ₹1.6 crore.

For the entire financial year 2023-24, the company’s revenue stood at ₹36.33 crore against ₹11.73 crore in the preceding fiscal. Its profit after tax (PAT) stood at ₹3.17 crore as against ₹56.15 lakh in FY23.