Nukleus Office Solutions IPO booked 41% on Day 1; check issue size, price band & more

The initial public offering (IPO) of Nukleus Office Solutions Ltd opened to weak demand on Monday, February 24. The NSE SME issue has been booked only 41% on the first day.

The co-working space provider aims to raise ₹31.7 crore from the primary market through its public offer. The NSE SME issue is available for subscription till Thursday, February 27.

The IPO attracted bids for over 4.2 lakh shares against 10.11 lakh shares on offer, leading to a subscription of 41%, as per the BSE data at the end of bidding on the first day at 5 pm.

The retail portion of the IPO was booked 61% with bids for over 3.1 lakh shares compared to the allocation of 5.05 lakh shares. The Non-Institutional Investors (NIIs) applied for over 1.1 lakh shares against 5.05 lakh shares set aside for the category. The NIIs booked only 21% of the allocated quota.

Nukleus Office Solutions IPO price band and other details

Nukleus Office Solutions IPO comprises only a fresh issue of 13.55 lakh shares, aggregating to ₹31.7 crore. The issue does not include any offer-for-sale (OFS) component.

The company has fixed the price at ₹234 per share for the IPO. The minimum lot size is 600 shares, requiring an investment of ₹1,40,400. High-net-worth individuals (HNIs) can apply for at least two lots of 1,200 shares, aggregating to an investment of ₹2,80,800.

Sundae Capital Advisors Ltd is the book-running lead manager of the Nukleus Office Solutions IPO, while Bigshare Services Pvt Ltd is the registrar. Nikunj Stock Brokers Ltd is the market maker for the IPO.

Nukleus Office Solutions IPO key dates

The IPO allotment status is expected to be finalised on Friday, February 28. Refunds will be issued on Monday, March 3, and the allottees will also receive shares in the Demat accounts on the same day.

The company has proposed to list shares on the BSE SME platform on Wednesday, March 4.

About Nukleus Office Solutions and use of IPO proceeds

Nukleus Office Solutions provides co-working and managed office solutions in Delhi-NCR, featuring flexible workspaces such as private cabins, dedicated desks, startup zones, meeting rooms, and virtual offices.

The company delivers a range of office solutions tailored for startups, small and medium-sized enterprises (SMEs), large corporations, professionals, and entrepreneurs. The company offers fully serviced workspaces suitable for enterprises with 50 to 500 seats.

By December 31, 2024, the company managed seven flexible workspaces and four Managed Offices across the Delhi NCR region, offering a total of 2,796 seats with an occupancy rate of 88.48%. At the same time, the company employed 30 individuals across different departments.

The company intends to utilise the funds raised for several strategic initiatives. A portion of the capital will go towards capital expenditure and security deposits required for setting up new centres.

Additionally, the company plans to invest in advertising to boost brand visibility and recognition.

The funds allocated will also support the development of a robust technology platform, enhancing online client interactions, integrating all centres, and launching a dedicated mobile application. Further, a portion of the IPO proceeds will be allocated to general corporate purposes, contributing to overall business growth and sustainability.

Nukleus Office Solutions: Key financials

As of December 31, 2024, Nukleus Office Solutions’ revenue from operations stood at ₹21.34 crore. In the same period, it reported a profit after tax (PAT) of ₹1.51 crore.

For the financial year ended March 31, 2024, the company’s revenue from operations was recorded at ₹17.12 crore against ₹10.88 crore in the preceding fiscal (FY23). Its profit after tax for FY24 stood at ₹1.19 crore compared to ₹67.27 lakh in FY23.