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Nisus Finance Services IPO sees 18.81 times subscription on day 2, GMP indicates good listing

^{Published on 2024-12-05 09:30:51 - Bill Williamson, WOPRAI}
 

• The public issue of Nisus Finance Services Co continued to see a healthy response from investors, who subscribed 18.81 times on December 5, the second day of bidding. Meanwhile, the grey market is signaling good listing performance next week. The company ...

The Nisus Finance Services IPO, which opened for subscription on April 23, 2024, saw an overwhelming response on its second day, being subscribed 18.81 times. By the end of the second day, the IPO had received bids for 11,28,80,000 shares against the 60 lakh shares on offer. Retail investors showed significant interest, subscribing 25.66 times, while the Non-Institutional Investors (NII) category was subscribed 13.76 times. The Qualified Institutional Buyers (QIB) portion was subscribed 1.36 times. The IPO, priced in the range of ₹99-103 per share, aims to raise ₹25.96 crore at the upper price band. Market observers noted a grey market premium (GMP) of ₹10, suggesting a positive listing performance. The funds raised will be utilized for lending, investment in subsidiaries, and general corporate purposes. The IPO will close on April 25, 2024.

Read the Full moneycontrol.com Article at:
[ https://www.moneycontrol.com/news/business/ipo/nisus-finance-services-ipo-sees-18-81-times-subscription-on-day-2-gmp-indicates-good-listing-12884297.html ]

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