NACDAC Infrastructure shares list at 90% premium over issue price on NSE SME platform

After entering the record books for one of the highest subscribed issues in SME segment history, NACDAC Infrastructure shares listed with 90% premium over its issue price at Rs 66.5 on the NSE SME platform today.

Ahead of the listing, the company's shares were trading with a GMP of Rs 52 in the grey market.

NACDAC Infrastructure, which asked for a mere Rs 10 crore through its IPO, received nearly 2000 times subscription.


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The company offered 20.8 lakh shares for investors in the IPO, but received bids for 411 crore shares worth about Rs 14,386 crore. The issue was priced at Rs 35 at the upper end.

The robust demand was driven by retail and non-institutional investors, whose categories were subscribed 2500 and 2600 times, respectively.

The company proposes to use the net proceeds from the public offer for working capital requirements and general corporate purposes.

NACDAC Infrastructure is primarily a core-construction company specializing in a comprehensive range of civil and structural services. Its core offerings encompass the construction of multi-story buildings, electrical works (both low tension and high-tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works.

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With a strong focus on quality and efficiency, the company serves a diverse clientele spanning government agencies, and private corporations.

The company has an established track record of executing projects with more than a decade of experience in construction activities and has completed 63 projects worth Rs 96.74 crore so far.

For the period ended June 2024, the company clocked total revenues of Rs 13.71 crore and net profit of Rs 1.6 crore