NACDAC Infrastructure is making a big splash today as its shares start trading on the NSE SME platform! This company set a record as one of the most subscribed in the SME world, with people eager to buy its shares. Before the shares began trading, they had a grey market premium (GMP) of Rs 52, which means people were willing to pay a lot more than the issue price of Rs 42—about 140% more!
Because of rules, the most anyone can gain when the shares debut is capped at 90%. If trends hold up, the stock could have huge gains on its first day. It’s important to remember that grey market prices can change fast and only show how popular shares are before they officially list.
NACDAC Infrastructure aimed to raise Rs 10 crore through its IPO but got bids worth a massive Rs 14,386 crore—nearly 2000 times what they were looking for! They offered 20.8 lakh shares, but people wanted 411 crore shares! Retail and individual investors were especially excited, bidding 2500 and 2600 times, respectively.
The company said it would use the money for day-to-day needs and other business purposes. NACDAC is a construction company that does a lot of different jobs like building tall buildings, handling electrical work, creating steel structures, and making bridges. They focus on delivering quality and have over 10 years of experience, working on 63 projects worth almost Rs 97 crore.
In June 2024, NACDAC reported revenues of Rs 13.71 crore and a net profit of Rs 1.6 crore.
Leave a Reply