The initial public offering of NACDAC Infrastructure Ltd. opened for subscription on Tuesday. The Rs 10.01-crore IPO is an entirely fresh issue of 28.6 lakh shares with no offer-for-sale component.
The SME IPO has been subscribed over 40 times so far on the opening day of bidding, led by demand from retail investors.
The subscription window for the NACDAC Infrastructure IPO will remain open for bidding till Dec. 19. Share allotment for the issue will be done on Dec. 20.
Shares will be credited to the demat accounts of successful bidders on Dec. 23, and refunds for non-allottees will be initiated on the same day.
NACDAC Infrastructure shares are proposed to be listed on BSE SME on Dec. 24.
The NACDAC Infrastructure IPO price band has been fixed at Rs 33 to Rs 35 with a face value of Rs 10 per share. Retail investors can bid in the IPO with a minimum of 4,000 shares in one lot, taking the minimum investment amount to Rs 1,40,000.
Maashitla Securities Pvt. has been appointed as the registrar for the NACDAC Infrastructure IPO. GYR Capital Advisors Pvt. is the book-running lead manager of the issue and Giriraj Stock Broking Pvt. is its market maker.