MUMBAI: The IPO mania within the SME area reached a brand new excessive on Thursday. NACDAC Infrastructurea Ghaziabad-based building firm eyeing to boost Rs 10 crore from the market, bought bids totaling Rs 14,386 crore, a subscription of 1,976 occasions (excluding the Rs 2.7 crore anchor half). This made the IPO probably the most subscribed one in India’s capital market historical past, information from main market analytics firm Chittorgarh confirmed.
Bidding information on BSE confirmed that the non-institutional (excessive internet value traders‘) a part of the offer was subscribed 2,635 occasions whereas the retail half was subscribed 2,504 occasions. In comparability, the portion reserved for institutional traders like mutual funds, insurance coverage corporations, international funds and so forth, was subscribed an honest 236 occasions. The firm is about to checklist on BSE’s SME platform.
Ahead of the IPO, 7.8 lakh shares of the corporate had been offered to 2 funds that acted as anchor traders. Al Maha Investment Fund, a Muscat, Oman-based fund had purchased 4.9 lakh shares whereas Vikasa India EIF I Fund, an Oklahoma, US-based mostly fund purchased practically 2.9 lakh shares.
The IPO prospectus for NACDAC Infra offer stated that the corporate was elevating funds to satisfy its working capital wants and for basic company functions. NACDAC Infra, integrated in 2012, is primarily a core-building firm specializing in a complete vary of civil and structural companies, the offer doc famous.
In fiscal 2024, the corporate had earned a internet revenue of Rs 3.2 crore on a complete earnings of Rs 36.3 crore. It had an earnings per share (EPS) of Rs 4.14 for FY24.