NACDAC Infrastructure’s SME IPO opened for investment on Monday, 17 December, and saw a great response right from the start.
By 2 pm on the first day, the issue was already subscribed nearly 25 times. The IPO will close on 19 December, with a price band set at Rs 35.
The company aims to raise Rs 10 crore through this offering. The allocation of the issue is as follows: 50% is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
Grey Market Premium and Listing Details
As per Investorgain.com, the IPO has been highly subscribed, and it is available at a premium of Rs 40 in the grey market.
This indicates the company’s shares could list at Rs 75, offering a potential profit of up to 115% on listing. The shares will be listed on the BSE SME platform on 24 December.
The lead book-running manager for the IPO is GYR Capital Advisors, while Mashitla Securities acts as the registrar.
The allotment status for the IPO is expected to be finalized by 20 December, with refunds processed on 23 December. Successful investors will see their shares credited to their demat accounts on the same day.
Purpose of Fundraising and Investment Details
The funds raised from this IPO will be used for working capital requirements and other general corporate purposes.
For retail investors, the minimum application size is 4,000 shares, which amounts to an investment of Rs 140,000. High net worth individuals (HNIs) must invest a minimum of Rs 280,000 or two lots.
About NACDAC Infrastructure
NACDAC Infrastructure is a construction company specializing in a range of civil and structural services. The company focuses on building multi-storey buildings, steel structure work, electrical work, and bridges.
It is a Class A, ISO-certified contractor registered with the Uttarakhand Drinking Water Resources Development and Construction Corporation (UPSVENN).
