Nisus Finance Services is set to launch its Rs 114 crore SME IPO on December 4, making it the first SME public issue of the month. This will also mark the 11th IPO of over Rs 100 crore size in 2024.
Key IPO Details
- Subscription Dates: December 4 to December 6.
- Price Band: Rs 170-180 per share.
- Anchor Investor Book: Opens on December 3 for institutional investors.
- Offer Structure:
- Fresh issue of shares worth Rs 101.6 crore.
- Offer-for-sale (OFS) of 7 lakh shares worth Rs 12.6 crore by promoter Amit Anil Goenka.
About Nisus Finance Services
Nisus Finance has been founded by Amit Goenka along with his wife, Mridula Goenka. The firm extends transaction advisory services, real estate, and urban infrastructure fund management. It also extends an NBFC arm by the name of Nisus Fincorp.
Fund Utilisation Plan
Proceeds from the fresh issue will be used for:
- Expanding fund setup and management infrastructure in IFSC-Gift City (Gandhinagar), DIFC-Dubai, and FSC-Mauritius.
- Obtaining additional licenses and facility management services.
- Covering fundraising costs and distribution fees to agents in India and international markets.
- Strengthening the capital base of Nisus Fincorp.
- General corporate purposes.
Market Outlook
The diversified services and presence of NBFC from Mumbai-based companies will further firm their operations in both the Indian and global markets. Furthermore, this is the latest in a spate of SME IPOs as investors increasingly show interest in this section.
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Source: Moneycontrol
News Desk
