On the final day of bidding on Friday, the public offer was subscribed to more than 192 times across all investor categories, indicating a high level of demand for Nisus Finance Services Limited’s IPO (initial public offer).
While 42.05 lakh shares of Nisus Finance Services were available for subscription, investors bid on more than 80.90 crore shares.
Total subscription across all categories
139.78 times as many applications were made for over 29.23 crore shares in the retail category of the BSE SME IPO, compared to the 20.91 lakh shares reserved for the category.
Non-Institutional Investors (NII) applied for 40.42 crore shares, 451.21 times their quota, while the category was allotted 8.96 lakh shares.
Qualified Institutional Buyers (QIBs) applied for 11.2 crore shares over the 11.94 lakh shares reserved for them, making up 93.84 of the IPO’s bookings.
Out of the 24,000 shares available for subscription, the company’s employees applied for 21,600 shares, reserving 90 per cent of the shares.
IPO size and structure
The IPO value of Nisus Finance Services was Rs 114.24 crore. The book-built issue included an offer-for-sale of 7.01 lakh shares, totalling Rs 12.61 crore, and a new issue of 56.46 lakh shares, totalling Rs 101.62 crore.
Price band and minimum bid
The price range for the IPO was set at Rs 170 to Rs 180 per share. 800 shares, or a total investment of Rs 1,44,000, was the minimum lot size for the retail category. For HNI, a minimum lot size investment is two lots (1,600 shares), which comes to Rs 288,000.
Listing and subscription timetable
By Monday, December 9, the Nisus Finance Services IPO share allocation status is probably going to be finalized.
On Tuesday, December 10, after the share allocation is finished, unsuccessful bidders will begin receiving refunds, and successful bidders will also receive shares of the company in their Demat accounts on the same day. The company’s shares will go live on the BSE SME platform on December 11.
The IPO bidding for Nisus Finance Services began on December 4, 2024, and concluded on December 6, 2024.
Use of IPO proceeds
The funds raised through the public offering will be used by the company to expand its fund setup, acquire more licenses, provide facility management services, and establish fund management infrastructure in FSC-Mauritius, DIFC-Dubai (UAE), and IFSC Gift City (Gandhinagar).
In order to create a pool of funds, the IPO proceeds will also be utilized to finance the distribution and pay a placement fee to third-party distributors or agents in India and overseas markets. A portion of the profits will also be invested by the business in Nisus Fincorp Private Limited, an associate company.
