NACDAC Infrastructure IPO Day 3: Subscription status, GMP & other key details about SME issue

The initial public offering (IPO) of NACDAC Infrastructure opened for subscription on Tuesday, December 17, aiming to raise ₹10.01 crore through a fresh issue of 28.6 lakh equity shares. The issue closed for subscription on December 19.

NACDAC Infrastructure IPO Subscription status

The NACDAC Infrastructure IPO was subscribed 2,209.74 times on the third day of the bidding process. Here's how different quotas were subscribed:

Retail Investors: 2,503.68 times

Non-Institutional Investors: 4,084.36 times

Qualified Institutional Buyers: 236.39 times 

The issue received bids for 4,11,01,24,000 shares as against 18,60,000 shares on offer.

NACDAC Infrastructure IPO GMP

NACDAC Infrastructure IPO’s grey market premium (GMP) today was ₹50, suggesting a potential listing price of ₹85 per share at the upper price band. This reflects an estimated 143% gain over the IPO price.

NACDAC Infrastructure IPO details

NACDAC Infrastructure IPO price band is set at ₹33 to ₹35 per share. Retail investors can apply for a minimum lot size of 4,000 shares, translating to an investment of ₹1,40,000.

The IPO, categorized as a Small and Medium Enterprise (SME) offering, will remain open for subscription until December 19. Post allotment, shares will be credited to successful bidders' demat accounts on December 23, with refunds processed for non-allottees on the same day. The shares are scheduled to debut on the BSE SME platform on December 24, 2024.

Maashitla Securities is the registrar for the issue, while GYR Capital Advisors serves as the lead manager, and Giriraj Stock Broking is the market maker.

Founded in 2012, NACDAC Infrastructure Ltd. is recognised as a Class A contractor by the Uttarakhand Peyjal Sansadhan Vikas Evum Nirman Nigam. The company specialises in civil and structural construction, including multi-storey buildings, residential and commercial projects, and steel and bridge structures.

As of fiscal 2024, the company reported a revenue of ₹36.3 crore, with a net profit of ₹3.16 crore. For the period ending October 31, 2024, revenue from operations stood at ₹13.72 crore, and net profit was ₹1.6 crore.

With 45 completed projects and several ongoing contracts for Central and Uttarakhand government entities, NACDAC Infrastructure Ltd. is well-positioned for growth. The company holds ISO certification.