NACDAC Infrastructure IPO ends today: Subscription zooms 600x, GMP up 114%

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NACDAC Infrastructure IPO GMP today: The unlisted shares of NACDAC Infrastructure, whose initial public offering (IPO) is set to close for subscription today, Thursday, December 19, 2024, were commanding a strong premium in the grey markets. Sources tracking unofficial market activities revealed that NACDAC Infrastructure shares were trading at Rs 75 apiece, reflecting a grey market premium (GMP) of Rs 40 or 114.29 per cent against the upper end of the IPO price band of Rs 35.

 

The NACDAC Infrastructure IPO, which comprises only a fresh issue of 28,60,000 equity shares, has received a strong response from investors, being subscribed around 679 times as of 11:00 AM on Thursday, December 19, according to BSE data.

 

The Rs 10.01-crore SME offering is available at a price band of Rs 33-35 per share, with a lot size of 4,000 shares. Investors can bid for a minimum of 4,000 shares and in multiples thereof. A retail investor would require a minimum of Rs 1,40,000 to bid for one lot of 4,000 shares of the NACDAC Infrastructure IPO. 

 

As the subscription window closes today, the basis of allotment of NACDAC Infrastructure IPO shares is likely to be finalised on Friday, December 20, 2024. Successful allottees will receive the company’s shares in their demat accounts on Monday, December 23, 2024.

 

NACDAC Infrastructure shares are expected to list on the BSE SME platform on Tuesday, December 24, 2024.

 

Maashitla Securities serves as the registrar for the NACDAC Infrastructure IPO, while GYR Capital Advisors is the sole book-running lead manager of the public issue.

 

According to the Red Herring Prospectus filed by the company, NACDAC Infrastructure will utilize the net proceeds from the IPO for funding working capital requirements as well as general corporate purposes.

 

NACDAC Infrastructure, as outlined in the RHP, is primarily a core construction company specializing in a comprehensive range of civil and structural services. The company's core offerings encompass the construction of multi-story buildings, electrical works (both low-tension and high-tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works. With a focus on quality and efficiency, the company serves a diverse clientele spanning government agencies and private corporations.