NIS Management Limited IPO has attracted investor attention as its subscription closed with strong demand. By the final day of bidding on August 28, 2025 at 07:00 PM, the IPO was subscribed 2.95 times overall, reflecting significant interest from various investor categories.

Founded on the spirit of innovation and dedication, NIS Management has built a reputation in the service sector where client satisfaction and employee satisfaction are at the core of its operations. The company has a workforce strength of 16,000 personnel spread across 14 Indian states, showcasing its scale and reach.

The NIS Management IPO is a Book Built Issue worth ₹60.01 Crores. It comprises a Fresh Issue of 46.62 Lakh Shares aggregating ₹51.75 Crores and an Offer for Sale (OFS) of 7.44 Lakh Shares worth ₹8.26 Crores. The price band has been fixed between ₹105 and ₹111 per equity share, giving the company a market capitalisation of ₹291.78 Crores at the upper band.

The lot size is 1,200 shares, and retail investors are required to apply for a minimum of 2 lots (2,400 shares), which amounts to an investment of ₹2,66,400.

The issue is managed by Share India Capital Services Private Limited as the Book Running Lead Manager, while Maashitla Securities Private Limited acts as the Registrar. The Market Maker role is being undertaken by Share India Securities Limited.

One of the key highlights of the IPO was the Anchor Investor allocation. NIS Management successfully raised ₹119.99 Crores from Anchor Investors at the upper price band of ₹111 per share. A total of 15,06,000 equity shares were allotted to Anchor Investors. These shares were allocated from the Qualified Institutional Buyers (QIBs) quota.

The allotment date for NIS Management IPO is Friday, August 29, 2025. Investors can check the allotment status online by visiting the registrar’s website and entering details such as application number, PAN, or DP Client ID. The listing date is tentatively set for Tuesday, September 2, 2025, on the BSE SME platform.

Ahead of the listing, many investors are keeping an eye on the Grey Market Premium (GMP). As of August 23, 2025, the GMP stands at ₹9 per share, indicating an expected listing price of ₹120 against the issue price of ₹111, which translates to a potential 8.10% listing gain. However, it is important to note that GMP is unofficial, unregulated, and driven by demand and supply in the grey market, and therefore, it should only be considered as an informational reference.

The objectives of the IPO include:

1. ₹3,600 Lakh for meeting the working capital requirements of the company.

2. The remaining proceeds to be utilised for general corporate purposes.

The company is led by a team of experienced promoters including Mr. Debajit Choudhury, Ms. Rina Choudhury, Ms. Susmita Mukherjee, Ms. Debahuti Chatterjee, and Ms. Nita Dey, who have played a pivotal role in scaling the organisation.

In terms of financial performance, NIS Management has demonstrated consistent growth:

• Revenue from operations stood at ₹40,532.89 Lakh in FY25, ₹38,005.91 Lakh in FY24, and ₹34,193.31 Lakh in FY23.

• EBITDA was ₹2,988.84 Lakh in FY25, ₹3,115.90 Lakh in FY24, and ₹3,249.50 Lakh in FY23.

• Profit After Tax (PAT) recorded was ₹1,866.68 Lakh in FY25, ₹1,837.80 Lakh in FY24, and ₹1,613.90 Lakh in FY23.

The earnings per share (EPS) before the IPO issue is ₹12.38, and the post-issue EPS is ₹9.43 for FY24. The pre-issue P/E ratio is 8.97x, while the post-issue P/E ratio is 11.77x. Comparatively, these ratios suggest that the IPO is fairly valued.

The Return on Capital Employed (ROCE) for FY24 is 17.63%, the Return on Equity (ROE) is 13.10%, and the Return on Net Worth (RoNW) is 13.10%, which are considered moderate but stable performance metrics in the service sector.

With a Grey Market Premium of ₹9 indicating 8.10% expected listing gains, analysts recommend that risk-taking investors may apply for short-term listing benefits. However, long-term investors should evaluate the company’s margins and manpower-driven business model before committing to the IPO.

In conclusion, the NIS Management IPO subscription of 2.95 times, the Anchor Investor participation of ₹119.99 Crores, and the tentative GMP of ₹9 indicate positive short-term sentiment. With the allotment date on August 29 and the listing scheduled for September 2, all eyes are on how NIS Management performs once it debuts on the BSE SME platform.

The Upcoming IPOs in this week and coming weeks are Goel Construction Company, Amanta Healthcare, Rachit Paints, Abril Paper Tech, Sneha Organics, Sugs Lloyd, .

The Current active IPO are Oval Projects, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering, .

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