Nisus Finance Services IPO opens on Dec 4: Check GMP & other key details

Nisus Finance Services IPO: The initial public offering (IPO) of Nisus Finance Services is set to open for public subscription on Wednesday, December 4, 2024. At the upper end, the company seeks to raise Rs 114.24 crore from the offering. The bidding for anchor investors is likely to take place on Tuesday, December 3, 2024.

 

Here are the key details of the Nisus Finance Services IPO, outlined by the company in its Red Herring Prospectus (RHP):

 

Nisus Finance Services IPO size, price band

The offering comprises a fresh issue of 5,645,600 shares and an offer for sale with promoter Amit Anil Goenka divesting 700,800 shares with a face value of Rs 10 apiece, as per the Red Herring Prospectus filed by the company.

 

The public offering will be available at a price band of Rs 170–Rs 180 per share and a lot size of 800 shares. Accordingly, investors can bid for a minimum of 800 shares and in multiples thereof. Thus, the minimum amount of investment required by retail investors to bid for 1 lot of Nisus Finance Services is Rs 144,000.

 

Nisus Finance Services IPO grey market premium (GMP)

The unlisted shares of Nisus Finance Services were commanding a strong premium, quoted trading at Rs 230, reflecting a premium of Rs 50 against the upper end of the price band of Rs 180, which translates to a GMP of 27.78 per cent, revealed sources tracking grey market activities.

 

Nisus Finance Services IPO key dates

Nisus Finance Services IPO will tentatively remain available for subscription from Wednesday, December 4, 2024, till Friday, December 6, 2024.

 

Following the closure of the subscription window, the basis of allotment is expected to get finalised on Monday, December 9, 2024. The successful allottees will receive the company’s shares on Tuesday, December 10, 2024, in their demat accounts.

 

The company said that the equity shares offered through the RHP are proposed to be listed on the SME Platform of BSE (BSE SME). “For this offer, the designated stock exchange will be the BSE.”

 

The tentative listing of the company’s shares is likely to take place on Wednesday, December 11, 2024.

 

Nisus Finance Services IPO objective

Nisus Finance Services, in its RHP, outlined that the selling shareholders will be entitled to their respective portions of the proceeds of the Offer for Sale after deducting their proportion of the offer-related expenses and relevant taxes thereon.

 

The company proposes to utilize the net proceeds from the fresh offering for augmenting fund setup, additional licenses, facility management services, and fund management infrastructure in IFSC-GIFT City (Gandhinagar), DIFC-Dubai (UAE), and FSC-Mauritius.

 

Nisus Finance Services, as per the RHP, will also use the proceeds to fund raising costs, distribution and placement fees to third-party distributors or agents in India and/or international markets for the creation of a pool of funds, as well as for investment in the subsidiary company Nisus Fincorp Private (an RBI-registered NBFC) to augment the capital base. The company will use the remaining proceeds for general corporate purposes.

 

Nisus Finance Services IPO registrar, lead manager details

As outlined in the RHP, Skyline Financial Services is the registrar for the issue. Beeline Capital Advisors is the sole book-running lead manager of the Nisus Finance Services IPO.

 

About Nisus Finance Services

Headquartered in India, Nisus Finance Services is a financial services company established in 2013. The company, as per the RHP, operates under the ‘Nisus Finance Group’/’NiFCO’ brand. 

 

The company is mainly engaged in the business of transaction advisory services, while its subsidiaries and step-down subsidiaries, namely Nisus BCD Advisors LLP, Nisus Finance & Investment Managers LLP, Nisus Finance International Advisors IFSC LLP, Nisus Finance Investment Consultancy FZCO, and the associate company Dalmia Nisus Finance Investment Managers LLP, are engaged in real estate and urban infrastructure fund and asset management. The other subsidiary, Nisus Fincorp Private, an NBFC company, primarily focuses on financing.