Nisus Finance Services Co. Limited made a successful debut on the BSE SME platform on Wednesday, December 11, when its shares were listed at a premium of 25 per cent.
In contrast to the Rs 180 issue price, the company's shares opened at Rs 225 each. The stock hit the upper circuit limit of Rs 236.25 per share after gaining an additional 5 per cent in the opening trade.
In the first five minutes of trading, the BSE SME platform saw over 17.93 lakh shares traded. It was worth Rs 40.63 crore when it was traded. At Rs 564 crore, the company was valued on the market.
Lisitng gains for investors
The investors, who were allotted at least a single lot of 800 shares during the IPO subscription, would have made a profit of Rs 36,000 (Rs 45 x 800) after the stock was listed at a premium.
Subscription across all categories
Exchange bid data indicates that at the end of the bidding process, Nisus Finance Services' IPO was booked 192.25 times. Out of the 42.05 lakh shares available, bids for 80.9 crore shares were received during the public offering.
The retail individual investor category had about 140 bookings out of all the investor categories. Out of the 20.91 lakh shares available, RIIs placed bids for 29.23 crore shares.
In contrast to the 896,000 shares available, the Non-Institutional Investors (NIIs) category was 451.6 times subscribed for, with bids for 40.42 crore shares.
There were 93.84 reservations made for the Qualified Institutional Buyers (QIBs) category. Out of the 11.94 lakh shares available, applications for 11.20 crore shares were received. 90 per cent of the staff's quota was subscribed.
Anchor book details
Anchor investors contributed Rs 32.21 crore to the company. It distributed 17,89,600 shares to 11 fund schemes at the price of Rs 180 per share, which was the upper limit of the price range.
IPO Details
During its IPO on the BSE SME platform last week, Nisus Finance Services Ltd. raised Rs 114.24 crore. The IPO included an offer to sell 7.01 lakh shares valued at Rs 12.61 crores and a new issue of 56.46 lakh shares valued at Rs 101.62 crores. Subscriptions for the public offer were accepted from December 4 to December 6.
The price range that the company set for each share was Rs 170 to Rs 180. The minimum investment needed for retail investors was Rs 1,44,000, and the minimum lot size was 800 shares.
