The initial public offering of Nisus Finance Services Co opens for bidding on Wednesday, December 4. The company is offering its shares in the price band of Rs 170-180 for which bids can be made in the multiples of 800 equity shares and its multiples thereafter. The bidding for the issue closes on Friday, December 6.
Founded in 2013, Nisus Finance Services Co offers financial services such as transaction advisory services, fund and asset management, private equity and venture debt and capital solutions to corporate clients. It has two core business segments- Transaction Advisory Services and Fund and Asset Management.
The IPO of Nisus Finance Services includes a fresh share sale of 56,45,600 equity shares amounting to Rs 101.62 crore. It also includes an offer-for-sale (OFS) up to 7,00,800 equity shares amounting to Rs 12.61 crore. At the upper end of the price band, the company is looking to raise a total of Rs 114.24 crore via its IPO, making it another Rs 100 crore-plus SME issue this year.
Retail investors can apply for a single lot maximum, or 800 equity shares only. At the upper end of the price band, each lot of the company will value Rs 1,44,000. Other investors, excluding the retailers, need to apply for a minimum of two lots or 1,600 equity shares, amounting to Rs 2,88,000. It was commanding a GMP of Rs 50 apiece, signaling listing gains of 28 per cent.
Nisus Finance Services' main sources of revenue are fund management fees earned by the fund manager/advisor entities for managing AIF fund pools. The company had assets under management (AUM) of Rs 1,000 crore as of FY24 across real estate and urban infrastructure. It has three offices (two in India and one International) as of January 31, 2024.
For the quarter ended on June 30, 2024, Nisus Finance Services reported a net profit of Rs 8.36 crore with a revenue of Rs 15.01. The company's bottomline came in at Rs 23.05 crore with a revenue of Rs 42.25 crore for the financial year 2023-24. The market capitalization of the company stood close to Rs 430 crore.
The company has reserved 3,51,200 equity shares as the market maker's portion. Of the net offer, 50 per cent of the shares are reserved for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) and retail investors will have an allocation of 15 per cent and 35 per cent, respectively.
Beeline Capital Advisors is the book running lead manager of the Nisus Finance Services IPO, while Skyline Financial Services is the registrar for the issue. The market maker for Nisus Finance Services IPO is Spread X Securities. Shares of the company shall be listed on BSE SME platform with December 11, Wednesday as the tentative date of listing.