NIS Management Debuts on BSE SME Platform: IPO Subscription and Listing Details
NIS Management, a Kolkata-based security and facility management services company, listed on the BSE SME platform after its Rs 60.01 crore IPO. The IPO was subscribed 3.13 times overall, with non-institutional investors showing the highest interest at 9.15 times. The company's revenue stood at Rs 405.33 crore, up 7% year-on-year, with a net profit of Rs 18.67 crore. Despite successful closure, the grey market premium remained at zero, suggesting muted listing expectations.
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NIS Management, a Kolkata-based security and facility management services company, made its stock market debut on the BSE SME platform following the closure of its Initial Public Offering (IPO). The company's entry into the public market comes with mixed subscription rates across investor categories and a muted grey market premium.
IPO Details and Subscription Rates
The Rs 60.01 crore IPO, priced at Rs 105-111 per share, concluded its subscription period on August 28. The offering comprised a fresh issue of Rs 51.75 crore and an offer for sale of Rs 8.26 crore by existing shareholders. The overall subscription rate stood at 3.13 times, indicating moderate investor interest.
Subscription rates varied across investor categories:
| Category | Subscription Rate |
|---|---|
| Non-institutional investors | 9.15 |
| Qualified institutional buyers | 2.12 |
| Retail investors | 1.10 |
The company successfully raised Rs 16.72 crore from anchor investors prior to the IPO.
Listing Day Expectations
Despite the successful closure of the IPO, the grey market premium remained at zero, suggesting muted expectations for the listing. Market observers anticipate the stock to debut around its issue price of Rs 111.
Company Overview and Financials
NIS Management operates in the security and facility management services sector, with a network of 14 branches and a workforce of 16,609 employees. The company's financial performance showed:
- Revenue: Rs 405.33 crore (up 7% year-on-year)
- Net profit: Rs 18.67 crore (up 2% from the previous year)
Utilization of IPO Proceeds
The company plans to utilize the funds raised through the IPO for:
- Working capital requirements
- General corporate purposes
As NIS Management steps into the public market, investors and industry watchers will be keen to observe its performance and growth trajectory in the coming months.
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