NACDAC Infrastructure, a construction company, launched its Initial Public Offering (IPO) between December 17 and 19, seeking to raise Rs 10.01 crore by offering 28.6 lakh shares. The IPO was met with an overwhelming response from investors, resulting in a remarkable oversubscription of 2,209.74 times, with bids totalling a staggering Rs 14,385.53 crore. This makes it one of the highest subscribed IPOs ever recorded, especially in the SME segment.
NACDAC Infrastructure's IPO, a book-built issue worth ₹10.01 crore, comprises a fresh issuance of 28.60 lakh shares. The bidding for the IPO took place from December 17 to December 19, 2024, with the allotment finalised on Friday, December 20, 2024. Scheduled to list on the BSE SME platform, the tentative listing date is set for Tuesday, December 24, 2024. The IPO is priced in a range of ₹33 to ₹35 per share.
The IPO saw massive oversubscription, with the company receiving bids for more than 2,000 times the shares offered. Investors submitted applications for 411.03 crore equity shares against the offered 28.6 lakh shares. Non-institutional and retail investors led the surge, subscribing 4,084.46 times and 2,503.66 times their respective quotas, while qualified institutional buyers booked their portion 236.39 times.
NACDAC Infrastructure is a core construction company specialising in various civil and structural services. Their offerings include constructing multi-storey buildings, handling electrical works (both low and high tension), steel structure works, and building bridges (including FOBs and ROBs), along with associated civil and structural tasks. The company has a proven track record of project execution, with over a decade of experience in construction, having completed 63 projects worth Rs 96.74 crore. They cater to a diverse client base, including government agencies and private corporations, with a strong emphasis on quality and efficiency.
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