NSB BPO Solutions IPO: GMP, price band among key details to know before subscription

NSB BPO Solutions will open its Rs 77.91 crore IPO for subscription today. The book-built issue, entirely a fresh offer, is priced in the range of Rs 140–147 per share and will close on September 25. The company’s shares are proposed to be listed on the BSE SME platform on September 30.

The IPO comprises 53 lakh shares, with 25 lakh shares reserved for retail investors, 24.8 lakh shares for non-institutional investors (NIIs), and a small 53,000 shares for qualified institutional buyers (QIBs).

Investors can bid for a minimum of 2,000 shares, translating to an application amount of Rs 2.94 lakh at the upper end of the price band. For HNIs, the minimum application size is three lots or 3,000 shares, amounting to Rs 4.41 lakh.

GMP trend

According to market observers, the grey market premium (GMP) for NSB BPO Solutions stands at zero, suggesting muted listing-day expectations at present.

Business profile

Incorporated in 2005, NSB BPO Solutions is engaged in business process outsourcing and support services. Its offerings include customer care, telesales, tele-collections, document digitization, KYC processing, warehousing, archival, and payroll management.

The company also trades fast-moving consumer goods (FMCG) and staples such as rice, sugar, dal, dry fruits, fruits, and vegetables, leveraging its procurement network and B2B sales capabilities.

Its clientele spans telecommunications, BFSI, insurance, food delivery, hospitality, government, healthcare, and education sectors. As of August 31, 2025, NSB BPO employed 2,439 people.

Financials

The company reported total income of Rs 138.5 crore in FY25, up 8% from Rs 128.3 crore in FY24. Profit after tax nearly doubled to Rs 8.5 crore in FY25, compared to Rs 4.8 crore a year earlier. EBITDA stood at Rs 18.9 crore in FY25, reflecting operating margins of 13.6%.

Return ratios remain modest, with ROE at 7.9% and ROCE at 9.4% in FY25. Post issue, the company’s market capitalization is estimated at Rs 293.6 crore, valuing it at about 34x FY25 earnings.

Use of funds

The company plans to utilise Rs 25.8 crore of the net proceeds to repay borrowings, Rs 13.4 crore for setting up a new project, and about Rs 29 crore towards additional and long-term working capital needs. The balance will go into general corporate purposes.

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