NACDAC Infrastructure IPO, which ran its subscription from December 17 to December 19, is all set to make its debut on the BSE SME platform tomorrow, December 24.
The IPO, which captured investor interest during its three day process with record-breaking subscription figures, is now generating buzz in the grey market with a sharply rising premium.
NACDAC Infrastructure IPO – GMP Surge Ahead of Listing
Ahead of its official listing The grey market premium (GMP) for NACDAC Infrastructure shares has risen to Rs 50 per share, indicating an expected listing price of Rs 85. This represents a staggering 142.86 per cent gain over the IPO’s upper price band of Rs 35 per share.
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Considering the recent surge in the GMP in the unofficial/unlisted marketplace, it is potentially estimated that the BSE SME issue is expected to list with gains. However, it is important to note that the GMP price is not an official indicator and may not always accurately predict the actual listing price or future performance of the stock.
NACDAC Infrastructure IPO – Highlights
The IPO, open from December 17 to December 19, aimed to raise Rs 10.01 crore through a fresh issue of 28.6 lakh shares. However, the response far exceeded expectations, with the issue being subscribed by 2,209.74 times. This resulted in total bids amounting to Rs 14,385.53 crore. The price band for the issue was between the range of Rs 31 to Rs 35 per share.
The Non-Institutional Investors (NII) was subscribed 4,084.46 times and the retail investors was booked 2,503.66 times. Meanwhile, the Qualified Institutional Buyers (QIBs) portion received a subscription rate of 236.39 times.
Lead Managers and Registrar
GYR Capital Advisors Private is serving as the book-running lead manager of the IPO process. Maashitla Securities has been appointed as the registrar, handling key responsibilities like allotment and investor services. In addition to this, Giriraj Stock Broking is stepping in as the market maker.
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