Nisus Finance Services: IPO 18.92x Booked as Retail Investors Lead
Deal News | Dec 04, 2024 | Nisus Finance Services Co Pvt
Nisus Finance Services Co Pvt Ltd (Nisus Finance) has launched its Initial Public Offering (IPO), witnessing an overwhelming response with 18.92 times the subscription by the second bidding day. The IPO opened on December 4 and is set to close on December 6, priced between 170 to 180 per share. Specializing in transaction advisory and fund and asset management, the company generates significant revenue from management fees of Alternative Investment Fund pools. Led by Amit Anil Goenka and Mridula Amit Goenka, the firm, founded in 2013, leverages their deep expertise in real estate financing and capital markets. Subscribers have shown high levels of interest, with particular enthusiasm from retail investors and non-institutional investors (NII). The IPO comprises fresh issuance and an offer-for-sale by existing shareholders, with funds earmarked for enhancing operational infrastructure and expanding market presence, including international locations like IFSC-Gift City and DIFC-Dubai. Beeline Capital Advisors serves as the lead manager, while Skyline Financial Services and Spread X Securities handle registrar and market-making duties respectively. The IPO’s grey market premium suggests a promising listing, indicative of investor readiness to pay a premium over the issued price.
Sectors
- Financial Services
- Investment Management
Geography
- India – Nisus Finance Services is based in India, which is where the IPO is launched, and plays a significant role in the regional financial services market.
- International Markets – Planned strategic operations expansions include locations like IFSC-Gift City, DIFC-Dubai, and FSC-Mauritius, indicating a focus on broadening their international market presence.
Industry
- Financial Services – Nisus Finance Services operates in the financial services sector, providing transaction advisory, fund and asset management, private equity, and venture debt offerings. These services contribute significantly to their business model and revenue streams.
- Investment Management – The company's core activities in fund and asset management, focused on AIFs, highlight its positioning within the broader investment management industry, especially targeting SMEs.
Financials
- 429.81 crore – Enterprise valuation of Nisus Finance Services at the upper IPO price band.
- 12.86x – Price Earnings ratio at the upper IPO price band based on FY25e earnings.
- 52.78% – Percentage increase in estimated listing price from upper IPO price based on grey market premium.
- 114.24 crore – Total IPO value comprising fresh issues and offer-for-sale shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nisus Finance Services Co Pvt Ltd | Issuer of IPO | Company | A financial service provider specializing in transaction advisory and fund and asset management. |
| Amit Anil Goenka | Co-Director | Person | Co-leads the company, bringing extensive experience in real estate financing. |
| Mridula Amit Goenka | Co-Director | Person | Co-leads the company alongside Amit Anil Goenka. |
| Beeline Capital Advisors Pvt Ltd | Book Running Lead Manager | Company | Responsible for managing the book-building process for the IPO. |
| Skyline Financial Services Private Ltd | Registrar | Company | Acts as the registrar for the IPO process. |
| Spread X Securities | Market Maker | Company | Acts as the market maker for the IPO, supporting liquidity. |
| Nisus Fincorp Private Ltd | Associate Company | Company | An associate company to be strengthened with IPO proceeds. |