Nisus Finance Services IPO to open on December 4; eyes Rs 114 crore

Nisus Finance Services Co Ltd on Friday said it aims to raise over Rs 114 crore through its initial public offering (IPO) which will open for subscription on December 4.

The issue, with a price band of Rs 170 to Rs 180 per share, will conclude on December 6. The anchor book bidding will open for a day on December 3.

The company, which is engaged in transaction advisory as well as fund and asset management services, will list on the BSE SME platform.

The IPO of 63.46 lakh equity shares comprises fresh issue of 56.45 lakh shares and an offer for sale (OFS) of 7 lakh shares, the company said in a statement.

At the upper end of the price band, the IPO size has been pegged at Rs 114.24 crore.

Proceeds from the issue will be utilised to enhance fund set-up, obtain additional licenses, and improve facility and fund management infrastructure in key financial hubs like IFSC-Gift City, DIFC-Dubai and FSC-Mauritius.

It also plans to cover fundraising costs and placement fees for domestic and international markets, invest in its associate company Nisus Fincorp to boost its capital base, and address general corporate purposes.

"As we prepare for our IPO, this milestone marks a significant achievement for Nisus Finance, highlighting our progress and advancements in transaction advisory services and fund and asset management since our inception," Amit Anil Goenka, Chairman & Managing Director of Nisus Finance Services Co, said.

"The upcoming IPO represents an exciting new chapter for our company. We believe going public will drive the company's growth by enhancing operational capabilities, expanding market reach and strengthening our financial foundation," he added.

Nisus Finance Services Co Limited specialises in real estate financing and capital markets with over 15 years of experience. It operates under the "Nisus Finance Group" or "NiFCO" brand.
In FY24, the company recorded a revenue of Rs 42.13 crore and a profit after tax (PAT) of Rs 22.87 crore. The company managed assets worth Rs 1,012 crore as of FY 2024.

Beeline Capital Advisors is the book running lead manager to the issue, while Skyline Financial Services is the registrar to the issue.