Tue Dec 17 04:50:00 UTC 2024: ## NACDAC Infrastructure IPO Oversubscribed on Day 1

**Mumbai, December 17, 2023** – The initial public offering (IPO) of NACDAC Infrastructure, a construction company specializing in civil and structural services, opened today and has been massively oversubscribed. Within hours of opening, the SME IPO had received subscriptions exceeding 25 times its offering.

The IPO, priced at ₹35 per share, aims to raise ₹10 crore. The offer is allocated 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The issue closes on December 19, with allotment expected on December 20, and refunds beginning December 23. Shares will be credited to successful investors’ demat accounts on the same day.

The company plans to use the funds for working capital requirements and general corporate purposes. The minimum application size is 4,000 shares (₹140,000), with a minimum investment of ₹280,000 for high net-worth individuals. The shares will be listed on the BSE SME platform on December 24.

Gyr Capital Advisors is the lead book-running manager, and Mashitala Securities is the registrar. The grey market indicates a potential listing price of ₹75, representing a potential profit of 115%. NACDAC Infrastructure is a Class A and ISO-certified contractor registered with the Uttarakhand Pey Jal Sansadhan Vikas Evam Nirman Nigam (UPSVENN). The company focuses on multi-story buildings, steel structure work, electrical work, and bridge construction.

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