NACDAC Infrastructure, a construction company, has made its debut on the BSE SME platform today (December 24). After receiving an overwhelming response during its IPO subscription period from December 17 to December 19, the company’s shares have listed at a premium of 90 per cent on BSE SME over the upper price band of Rs 35 per share. The company’s shares debuted at Rs 66.50 per share on the BSE.
NACDAC Infrastructure IPO GMP- Prior to the Listing
Prior to the official listing, NACDAC Infrastructure shares were trading at a grey market premium (GMP) of Rs 50 per share, with a projected listing price of Rs 85, a massive 142.86 per cent premium surge. However, it is essential to note that the GMP price, which is an unlisted price in the marketplace, is not an official indicator and may not reliably reflect the actual listing price or the future performance of the stock.
NACDAC Infrastructure IPO – Key Highlights
NACDAC Infrastructure raised Rs 10.01 crore through its initial public offering, which comprised a fresh issue of 28.60 lakh equity shares.
The price band for NACDAC Infrastructure IPO was set between Rs 33 to Rs 35 per share.
During its three-days subscription period, the BSE SME issue garnered a notable subscription rate of 2,209.74 times, securing total bids worth Rs 14,385.53 crore.
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Subscription Numbers
Non-Institutional Investors (NII): Subscribed 4,084.46 times.
Retail Investors: Booked 2,503.66 times.
Qualified Institutional Buyers (QIBs): Recorded 236.39 times subscription.
Anchor Investors
The BSE SME issue, on December 16, the day prior to the IPO launch, raised Rs 2.73 crore from anchor investors.
Where Will the Funds Be Used?
The company plans to allocate the IPO proceeds towards meeting working capital requirements and general corporate purposes.
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Key Players Behind the Scenes
The IPO process was managed as follows:
GYR Capital Advisors acted as the lead manager and Maashitla Securities oversaw the aspects of allotment and investor services as the registrar.
Giriraj Stock Broking played the role of the market maker.
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