Last Chance: Nisus Finance IPO closes today; subscription 20x, GMP up 36%

The unlisted shares of Nisus Finance were trading at Rs 245 apiece, reflecting a grey market premium (GMP) of Rs 65, or 36.11 per cent over the upper end of the IPO price band of Rs 180

Nisus Finance Services IPO GMP today: The unlisted shares of Nisus Finance Services, whose initial public offering (IPO) is set to close for subscription today, were commanding a strong premium on Friday, December 6, 2024. Sources tracking unofficial market activities revealed that Nisus Finance shares were trading at Rs 245 apiece, reflecting a GMP of Rs 65 or 36.11 per cent against the upper end of the IPO price, which is Rs 180.

 

The Rs 114.24 crore offering is available at a price band of Rs 170–Rs 180 per share, with a lot size of 800 shares.

 

Nisus Finance Services IPO has received a favourable response from investors, being subscribed around 20 times by the second day of subscription on Thursday, December 4, 2024, according to BSE data.

 

As the subscription window closes today, the basis of allotment is likely to be finalised on Monday, December 9, 2024. The successful allottees will receive the company’s shares in their demat accounts on Tuesday, December 10, 2024.

 

Nisus Finance Services shares are expected to list on the BSE SME platform on Wednesday, December 11, 2024.

 

Skyline Financial Services is the registrar for the Nisus Finance Services IPO, while Beeline Capital Advisors is the sole book-running lead manager of the public issue.

 

According to the Red Herring Prospectus filed by the company, Nisus Finance Services will not receive any proceeds from the offer for sale, as the selling shareholders will be entitled to their respective portions of the proceeds.

 

However, the company intends to utilise the net proceeds from the fresh offering for augmenting fund setup, acquiring additional licenses, providing facility management services, and enhancing fund management infrastructure in IFSC-GIFT City (Gandhinagar), DIFC-Dubai (UAE), and FSC-Mauritius.

 

The company will also use the proceeds for fundraising costs, distribution and placement fees to third-party distributors or agents in India and international markets for creating a pool of funds. Additionally, a portion of the proceeds will be invested in its subsidiary, Nisus Fincorp Private (an RBI-registered NBFC), to augment its capital base. The remaining proceeds will be used for general corporate purposes.

 

Established in 2013, Nisus Finance Services operates under the 'Nisus Finance Group' and 'NiFCO' brands. The company specialises in transaction advisory services, while its subsidiaries and affiliates—including Nisus BCD Advisors LLP, Nisus Finance & Investment Managers LLP, and others—focus on real estate and urban infrastructure fund and asset management. Additionally, Nisus Fincorp Private, an NBFC subsidiary, provides financing solutions.