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NIS Management IPO
NIS Management Ltd
₹1,26,000 /1200 sharesMinimum Investment
NIS Management IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹111.00 | ₹108.00 | -₹3.00 (2.70%) |
NIS Management IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 25 Aug ‘25 - 28 Aug ‘25 | ₹2,52,000 | 1,200 | ₹105 - ₹111 |
| Issue Size | IPO Doc |
|---|---|
| 60.01Cr | RHP PDF |
Subscription rate
As of 28 Aug'25, 04:01 PM
| Qualified Institutional Buyers | 1.94x |
| Non-Institutional Investor | 6.61x |
| Retail Individual Investor | 1.01x |
| Total | 2.05x |
About NIS Management
Founded in
2006
Managing director
Mr Debajit Choudhury
Parent organisation
NIS Management Ltd
Strengths & Financials of NIS Management
Strengths
Risks
NIS Management claims to have a well-established network in key states like West Bengal, Bihar, Jharkhand, and others.
With a core-to-associate ratio (number of core staff members managing associates) of 129:1, NIS Management claims to optimise resource allocation and managerial effectiveness. The company claims to have significantly improved this ratio from 50:1 since 2019, enhancing operational efficiency and supporting scalable growth, with only 131 back-office staff overseeing a workforce of over 16,500 employees.
The company claims to use QR code-based technology to monitor employee adherence to schedules and service standards.
Through its subsidiary Keertika Academy, NIS Management is recognised as an NSDC-certified training provider.
The company is ISO 9001:2015 certified for its quality management system, ISO 14001:2015 certified for its environmental management system, and ISO 45001:2018 certified for its occupational health and safety management system. Additionally, the company holds ISO 30409:2016 certification for human resources management, ISO 27001:2022 certification for its information security management systems, and ISO 18788-2015 for its security operations management systems.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 340.64 crore in FY23 to Rs 377.99 crore in FY24 and Rs 402.17 crore in FY25. PAT increased from Rs 16.14 crore in FY23 to Rs 18.38 crore in FY24 and Rs 18.67 crore in FY25.
A significant portion of the company’s revenue is derived from West Bengal. It accounted for 74.2 percent of the company’s revenue in FY25, 79.42 percent in FY24, and 81.17 percent in FY23. Any adverse political, social, or economic development in this region could negatively affect the company’s financial performance and results of operations.
A significant portion of the company’s revenue is derived from its security services and housekeeping services. The security division accounted for 44.62 percent of the company’s total revenue in FY25, 40.33 percent in FY24, and 38.44 percent in FY23. The housekeeping division accounted for 39.05 percent of the company’s total revenue in FY25, 38.86 percent in FY24, and 40.23 percent in FY23. Any loss of business from these services could adversely affect NIS Management’s revenues and profitability.
The company is involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company’s engagements with its clients are typically non-exclusive and project-based, averaging about 4.5 years in duration. Certain client contracts also allow for termination without cause, often at short notice and with limited or no penalties. There is no assurance of continuity or obligation for future work. Any such abrupt termination, driven by client financial constraints, strategic changes, or preference for competitors, could negatively impact the company’s revenue and profitability.
The company incurs significant employee benefit expenses, including workers’ compensation, staff welfare, and contributions to provident and other funds. A sharp increase in these costs, driven by regulatory changes or higher benefit levels, could adversely impact profit margins if such costs cannot be passed on to clients.
As of FY25, the company had total trade receivables amounting to Rs 125.88 crore, a slight increase from Rs 121.63 crore in FY24 and Rs 109.35 crore in FY23. For the company’s operations to remain smooth, these trade receivables must be collected on time.
As of FY25, the company had outstanding financial indebtedness of Rs 83.78 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
NIS Management Financials
*All values are in Rs. Cr
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Application Details of NIS Management IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Individual investor | ₹105 - 111 | ₹2 - 5 Lakh |
For NIS Management IPO, eligible investors can apply as Individual investor.