SME IPO: The figures of huge support received by NACDAC Infrastructure’s latest IPO are shocking. The company had set a target of raising only Rs 10 crore through its IPO, but investors have over-subscribed the issue by more than 2200 times. The total amount of applications received for shares of the company under IPO has crossed the figure of Rs 14 thousand crore. The special thing is that this tremendous support from investors to the issue of NACDAC Infrastructure has been seen despite SEBI tightening the rules for SME IPO.
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Applications received for 411.01 crore shares
The IPO of NACDAC Infrastructure, which falls in the Small and Medium Enterprise (SME) category, opened on 17 December 2024 and closed on 19 December 2024. During these three days, the company received applications for a total of 411.01 crore shares. Whereas the issue company has to issue only 20.8 lakh shares. Retail investors have subscribed it 2,503.66 times, while in the category of non-institutional investors the subscription has reached 4,084.46 times. Under this issue, the price of one share has been fixed at a maximum of Rs 35. The company is going to use this fund to meet its working capital and other corporate needs.
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How has the company’s performance been?
NACDAC Infrastructure mainly works in the core construction sector. This company specializes in the construction of multi-storey buildings, electrical works, steel structures and bridges. Apart from this, the company has worked on various projects for government and private organizations. The company has so far completed 63 projects, the total cost of which was Rs 96.74 crore. In the first quarter of FY 2024, the company has registered a revenue of Rs 13.71 crore and a net profit of Rs 1.6 crore.
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Share allotment and listing
NACDAC Infrastructure’s IPO received tremendous support from retail and non-institutional investors. It was subscribed 2,503.66 times in the retail category and 4,084.46 times in the non-institutional category. The share allotment of the company will be finalized on 20 December 2024 and its listing will take place in the stock market on 24 December. The premium of this stock is running at 142% in the gray market, due to which it is expected to make a strong start.
