Nisus Finance Services Co Limited, primarily engaged in transaction advisory services, is making waves with its upcoming IPO. The company, backed by a strong promoter team with over 15 years of experience, has designed its IPO as a book-built issue offering a fresh issue of ₹101.62 crores worth of 56.45 lakh shares and an offer for sale of 7.00 lakh shares totaling ₹12.61 crores. With a price band set between ₹170 and ₹180 per share, the IPO is expected to raise ₹114.23 crores, reflecting strong investor confidence.

Subscription and GMP Status

The subscription period for Nisus Finance Services Co IPO opened on December 4, 2024, and is scheduled to close on December 6, 2024. The IPO has seen a massive 177.55x subscription on its final day, showcasing overwhelming demand from investors. As of December 6, the Grey Market Premium (GMP) stands at ₹59, indicating a potential listing gain of 33.05%, which enhances its attractiveness to retail investors.

Investors are eagerly awaiting the allotment, which is expected to be finalized on December 9, 2024, with shares set to list on the BSE SME platform on December 11, 2024. The strong GMP and high subscription indicate a favorable market response, positioning Nisus Finance Services Co as a promising IPO for listing gains.

Financial Performance and Metrics

The company's financial performance has shown significant growth over the past few years, with a revenue of ₹1,500.53 lakhs for the three months ending June 30, 2024. The EBITDA for FY24 reached ₹3,467.53 lakhs, and the profit after tax (PAT) surged to ₹2,305.29 lakhs, reflecting a robust business model.

The price-to-earnings (P/E) ratio stands at 14.69x before the issue, and 18.79x post-issue. These figures indicate that the IPO is priced fairly, providing a strong return on capital employed (ROCE) and return on equity (ROE) of 101.63% and 109.83% respectively, highlighting its financial strength.

Objectives of the IPO

The funds raised from the fresh issue will be utilized for several strategic purposes:

1. Augmenting fund setup and expanding infrastructure in international markets like IFSC-Gift City, DIFC-Dubai, and FSC-Mauritius.
2. Fund raising costs and placement fees to third-party distributors, enhancing the company's reach in global markets.
3. Investment in subsidiaries, specifically Nisus Fincorp Private Limited, an RBI-registered NBFC, to strengthen the company's capital base and support future growth.

Allotment Process

The allotment process will be carried out online on the registrar’s website. To check allotment status, investors need to visit the allotment status page, select Nisus Finance Services Co IPO, and input their application number, PAN, or DP Client ID. The result will be available on December 9, 2024.

The Upcoming IPOs in this week and coming weeks are Jungle Camps, Toss The Coin, Sai Life Sciences, Mobikwik, Vishal Mega Mart, Supreme Facility, Purple United, Yash Highvoltage, International Gemmological, Inventurus Knowledge, Rosmerta Digital and Avanse Financial.

The Current active IPO is Dhanlaxmi Corp and Emerald Tyre Manufacturers.

Given the strong demand and high subscription rate, this IPO promises solid potential for listing gains. The Grey Market Premium of ₹59 suggests that investors can expect significant returns once the shares are listed on the BSE SME.

Should You Apply?

Based on the high demand, positive financial metrics, and the potential for listing gains, investors are advised to apply for the Nisus Finance Services Co IPO. The pricing, strong financial performance, and objectives of fund utilization position the IPO as a solid investment opportunity for those looking to benefit from growth in the real estate and infrastructure sectors.

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