Nisus Finance Services has decided to open its Rs 114-crore initial share sale for subscription on December 4. This will be the first IPO from the SME segment in December and will be the 11th public issue with more than Rs 100 crore in size in current calendar year.
The anchor book for institutional investors will be launched for a day on December 3, while the public issue for all kind of investors will close on December 6.
The price band for the offer has been fixed at Rs 170-180 per share.
The financial services provider intends to raise Rs 101.6 crore via fresh issue component, and Rs 12.6 crore through offer-for-sale of 7 lakh shares. Promoter Amit Anil Goenka is the selling shareholder in the offer-for-sale.
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Amit Goenka and his wife Mridula Goenka-promoted company provides transaction advisory services, real estate and urban infrastructure fund and asset management. It also has an NBFC subsidiary Nisus Fincorp.
The Mumbai-based company will utilise fresh issue proceeds for augmenting fund setup, additional licenses, facility management services and fund management infrastructure in IFSC-Gift City (Gandhinagar), DIFC-Dubai (UAE) and FSC-Mauritius. Further, the amount will be spend for fund raising cost, distribution and placement fee to third party distributors or agents in India and/or international markets for creation of pool of funds.
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The remaining amount will be used for augmenting the capital base for Nisus Fincorp, and general corporate purposes.
Investors can start trading in Nisus shares on the BSE SME platform effective December 11. Beeline Capital Advisors is the sole book running lead manager for the issue.
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