Business News: Nacdac Infra IPO Subscribed 1976 Times, Receives Overwhelming Response

IPO News: Nacdac Infra, a construction business situated in Ghaziabad, raised a small Rs 10 crore through an IPO. However, the tremendous reaction it garnered has made headlines, with bids totaling an amazing Rs 14,000 crore. This amounts to a subscription rate of 1,976 times, setting a new record and exhibiting unprecedented investor confidence. The company, known for its comprehensive solutions for infrastructure projects, has piqued the interest of investors due to the construction sector’s potential future. 

Nacdac IPO Details

The offer size was limited to 20 lakh shares, with prices ranging from Rs 33 to Rs 35 per share and lots of 4,000 shares. However, investors subscribed to a record 411 crore equity shares, demonstrating unprecedented demand. Between December 2017 and December 2019, non-institutional investors subscribed to the IPO 2,600 times, with retail investors contributing 2,500 subscriptions. The gray market expects a listing gain of around 90%, which increases interest. The IPO will be finished and listed on December 24, marking a watershed moment for both the company and its shareholders.