NACDAC Infrastructure’s SME IPO opened for investment on Monday, 17 December, and received an overwhelming response.
By 2 PM on the first day, the issue was subscribed nearly 25 times. Investors can apply until 19 December, with the price band set at Rs 35 per share.
The company aims to raise Rs 10 crore through this IPO. The allocation is divided as follows: 50% is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).
Grey Market Premium and Key Dates
According to Investorgain.com, the IPO has been highly subscribed and is available at a premium of Rs 40 in the grey market.
This suggests the shares could list at Rs 75, offering potential profits of up to 115%. The shares are set to list on the BSE SME platform on 24 December.
The IPO’s allotment status will be finalized by 20 December, and refunds will be processed on 23 December.
Successful investors will have shares credited to their demat accounts on the same day. GYR Capital Advisors is the lead book-running manager, while Mashitla Securities is the registrar.
Purpose of the IPO and Investment Details
The funds raised will be used for working capital needs and general corporate purposes. Retail investors must apply for at least 4,000 shares, amounting to an investment of Rs 140,000.
High net worth individuals (HNIs) are required to invest a minimum of Rs 280,000 or two lots.
About NACDAC Infrastructure
NACDAC Infrastructure is a construction company that specializes in civil and structural services. It focuses on building multi-storey buildings, steel structures, electrical work, and bridges.
The company is a Class A, ISO-certified contractor registered with the Uttarakhand Drinking Water Resources Development and Construction Corporation (UPSVENN).
