Nisus Finance Services backed by Vivek Oberoi, a Mumbai-based financial service provider on Wednesday (December 11) marked its debut on the BSE SME Exchange with shares opening at Rs 225. While the listing price marked a 25 per cent premium over the issue price of Rs 180 per share, it fell short of the grey market’s expectation, which had indicated a premium of over 52 per cent.
Grey Market Premium before the Listing
Ahead of the listing, the grey market indicated strong demand for Nisus Finance Services shares. At the early hours on December 11, the shares were trading at a premium of Rs 95, hinting at an estimated listing price of Rs 280, translating to a 52.56 per cent gain over the issue price of Rs 170-180 per share.
The grey market is an unofficial place for trading shares.
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About the IPO subscription Details
The Nisus Finance Services IPO on its final day of bidding on December 6 closed the window with a subscription of 192.29 times. The three-day bidding period, from December 4-6, saw overwhelming demand across investor categories.
The retail investor portion of Nisus Finance Services IPO was subscribed 139.78 times. Similarly, the Non-Institutional Investors (NIIs) garnered a subscription of 451.21 times and Qualified Institutional Buyers (QIBs) portion subscribed 93.84 times. The listing price of
In total, the IPO received bids for 80.87 crore shares, far exceeding the 42.05 lakh shares on offer.
Details of the IPO
The IPO raised Rs 114.24 crore, comprising a fresh issue worth Rs 101.62 crore and an Offer for Sale (OFS) of Rs 12.61 crore. The price band for the issue was set between Rs 170-180 per share, with a lot size of 800 shares.
About Nisus Finance Services
Nisus Finance Services was founded in 2013 and specialises in the financial services including transaction advisory, fund and asset management,
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