Market News
3 min read | Updated on December 19, 2024, 19:51 IST
SUMMARY
The public offer of NACDAC Infrastructure comprised a fresh issue of 28.6 lakh shares, worth up to ₹10.01 crore. NACDAC Infrastructure Ltd has proposed to list shares on the BSE SME platform on Tuesday, December 24.
NACDAC Infrastructure Ltd is a construction and infrastructure development company
Construction of infrastructure development company NACDAC Infrastructure Limited’s initial public offering (IPO) closed with a bumper subscription on Thursday, December 19, driven by massive demand from retail and Non-Institutional Investors (NIIs).
The BSE SME IPO was overall subscribed 1,976.13 times with bids for more than 411 crore shares against 20.8 lakh shares on offer.
The ₹10.01-crore IPO was open for subscription from December 17 to December 19.
Among investor categories, the NIIs booked their category 2,635.43 times with bids for more than 163.39 crore shares against 6.2 lakh shares reserved for them. The retail portion was subscribed 2,503.68 times with applications for over 235.34 crore shares against 9.4 lakh shares set aside for the segment. The Qualified Institutional Buyers (QIBs) placed bids for more than 12.29 crore shares against the allocation of 5.2 lakh shares. The QIBs quota was booked 236.39 times.
After the bumper subscription, NACDAC Infrastructure Ltd is expected to finalise the share allotment status on Friday, December 20. IPO investors would be informed about the allocation through SMS and emails.
IPO investors can also check the share allotment status on the website of BSE and the official portal of the IPO registrar, Maashitla Securities Private Ltd.
The company is expected to initiate refunds to investors and credit of shares to demat accounts on Monday, December 23.
The company has proposed to list shares on the BSE SME platform on Tuesday, December 24.
The public offer of NACDAC Infrastructure comprised a fresh issue of 28.6 lakh shares, worth up to ₹10.01 crore. The company set the price at ₹33 to ₹35 per share for the book-built issue.
The minimum lot size for retail investors was 4,000 shares and the minimum investment was ₹1,40,000.
GYR Capital Advisors Private Ltd is the book-running lead manager. Maashitla Securities Private Ltd is the registrar and Giriraj Stock Broking Private Ltd is the market maker for the IPO.
NACDAC Infrastructure Ltd is a construction and infrastructure development company. It offers end-to-end solutions for construction and infrastructure development projects.
According to the RHP, the company would utilise the net proceeds to fund working capital requirements as well as general corporate purposes.
The company reported revenue of ₹13.76 crore for the seven-month period ending October 31, 2024. Its PAT was ₹1.6 crore.
For 2023-24, its revenue stood at ₹36.33 crore against ₹11.73 crore in 2022-23. The profit after tax (PAT) was at ₹3.17 crore as against ₹56.15 lakh in FY23.
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