Nisus Finance Services Limited launched its Initial Public Offering (IPO) for subscription on Wednesday, December 4, 2024, with the closing date set for Friday, December 6, 2024. Investors have shown a positive response, with the IPO being subscribed 1.19 times on the first day. Individual investors have played a key role, contributing significantly to the strong engagement in the IPO.
Key Details About Nisus Finance IPO
- Price Band: ₹170 to ₹180 per equity share
- Issue Size: ₹114.24 crore
- Face Value: ₹10 per share
- Minimum Investment: Investors can place bids starting with a lot of 800 shares and in multiples of this amount.
- Fresh Issue: 5,645,600 shares
- Offer for Sale (OFS): 700,800 shares by promoters
The IPO plans to raise ₹114.24 crore through a combination of new equity shares and an offer for sale (OFS).
Subscription Status
As of Day 1, the IPO has received bids for 50,07,200 shares against the total offer of 42,05,600 shares, achieving a subscription of 1.19 times.
- Retail Investors: Subscribed 1.84 times of their quota, showing strong interest.
- Non-Institutional Investors (NII): Subscribed 1.29 times of their allotted portion.
- Qualified Institutional Buyers (QIB): Yet to show significant participation.
- Employee Portion: Subscribed at 10% so far.
The response from retail investors highlights their confidence in the company, while institutional investors are expected to participate actively in the remaining days.
The Grey Market Premium (GMP) for Nisus Finance IPO is currently trending at ₹52 per share, which indicates that the shares are trading at a premium in the grey market.
Based on the upper end of the IPO price band (₹180) and the current GMP, the estimated listing price of Nisus Finance shares could be ₹232 per share, a potential 28.89% gain over the issue price.
About Nisus Finance Services
Nisus Finance Services Limited is a non-banking financial company (NBFC) that was founded in 2013. The company provides financial services to small and medium enterprises (SMEs), which is a rapidly growing segment in India. It operates mainly in two areas are Transaction Advisory Services and Fund and Asset Management.
The company earns most of its revenue through fund management fees from managing Alternative Investment Funds (AIFs). Nisus Finance also offers other services such as venture debt, private equity, and capital solutions for corporate clients.
The Nisus Finance IPO has started on a positive note, driven by retail investor interest and favorable grey market trends. With a price band of ₹170-₹180 and the current GMP, the IPO has the potential for strong listing gains. Investors looking for exposure to a growing NBFC focused on SMEs may find this IPO an attractive option. However, always ensure you conduct thorough research before investing in any IPO.
