Nukleus Office Solutions’ SME IPO, aiming to raise Rs 32 crore, is 87% subscribed on its final day. The price band is set at Rs 234 per share. The IPO proceeds fund capital expenditure, new centres, technology development, and advertising. Listing is scheduled for March 4 on BSE SME platform.
Nukleus Office Solutions’ SME IPO, which opened for bidding on February 24, saw an 87% subscription at 11:14 AM on the final day of bidding. The company aims to raise Rs 32 crore through the offer, with shares set to list on the BSE SME platform.
The retail portion was subscribed 1.22 times, while the non-institutional investor category was subscribed 52%. The IPO includes a fresh equity sale of 13.54 lakh shares, with 50% reserved for retail investors. The price band for the IPO is set at Rs 234 per share, with each lot containing 600 shares.
On the third day of bidding, the company’s shares were trading with a GMP (grey market premium) of Rs 0, indicating no premium over the upper end of the IPO price. The allotment is expected to be finalized on February 28, with the shares scheduled for listing on March 4.
Proceeds from the IPO will be used for capital expenditure, security deposits for new centres, building up a technology platform, advertising expenses, and general corporate purposes. Sundae Capital Advisors manages the IPO, with Bigshare Services as the registrar.
