Slow Start for Nukleus Office Solutions IPO

The initial public offering (IPO) of Nukleus Office Solutions Ltd witnessed a subdued response on its opening day, February 24, with a subscription rate of 41%. The co-working space provider aims to raise ₹31.7 crore through this NSE SME issue, which remains open for bidding until February 27.

According to BSE data, the IPO received bids for 4.2 lakh shares against the 10.11 lakh shares on offer. The retail investor segment showed more interest, subscribing 61% of their allocated quota, while Non-Institutional Investors (NIIs) booked only 21% of their portion.

IPO Details and Pricing

The IPO consists of a fresh issue of 13.55 lakh shares, with no Offer-for-Sale (OFS) component. The price is fixed at ₹234 per share, requiring a minimum investment of ₹1,40,400 for 600 shares. High-net-worth individuals (HNIs) must invest at least ₹2,80,800 for 1,200 shares.

Key Dates and Listing Plan

Allotment of shares is expected on February 28, with refunds and Demat transfers scheduled for March 3. Nukleus Office Solutions plans to list on the BSE SME platform on March 4.

Company Performance and Growth

Financially, Nukleus Office Solutions has shown consistent growth. As of December 31, 2024, the company reported ₹21.34 crore in revenue and a profit after tax (PAT) of ₹1.51 crore, improving FY24, where revenue stood at ₹17.12 crore, up from ₹10.88 crore in FY23. The company’s PAT also grew to ₹1.19 crore, compared to ₹67.27 lakh in FY23.

Market Sentiment and Outlook

While the IPO’s first-day response was tepid, analysts suggest that interest may pick up in the coming days. With rising demand for flexible workspaces, Nukleus Office Solutions’ financial growth and upcoming listing could attract further investor attention before the subscription closes on February 27.