Nukleus Office Solutions IPO sees 69% subscription, Shreenath Paper issue booked 14%

Nukleus Office Solutions IPO

The public issues of co-working and managed office space provider Nukleus Office Solutions as well as paper products supplier Shreenath Paper remained undersubscribed on February 25.

Nukleus Office Solutions IPO

Investors have bought 7.35 lakh shares of Nukleus Office Solutions on the second day of bidding on Tuesday, against the offer size of 10.65 lakh shares, which resulted into a 69 percent subscription, the bid details on the BSE showed.

The public issue which has received 827 applications during February 24-25, will close on February 27.

The New Delhi-based company , which provides office solutions, intends to raise Rs 31.7 crore via initial share sale at a price of Rs 234 per share. These IPO funds will be utilised for capital expenditure and security deposit toward the establishment of new centres, and building up technology platform, integration of all centres, online client interaction and mobile application.

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Further, the fresh issue money will also be spent for advertisement expenses toward enhancing the visibility of brand, and general corporate purposes.

Shreenath Paper Products IPO

The Maharashtra-based company, which offers supply chain solutions to industries that use paper materials, saw its IPO closing the first day of bidding with 14 percent subscription. Investors have subscribed for 7.41 lakh shares compared to the offer size of 53.1 lakh shares via 240 applications.

Shreenath Paper Products approached capital markets to raise Rs 23.36 crore via public issue at a price of Rs 44 per share. The IPO will close on February 28.

The company intends to utilise IPO proceeds for its incremental working capital requirements, and general corporate purposes.

Sundae Capital Advisors is acting as the book running lead manager for Nukleus Office Solutions IPO, while the merchant banker handling the Shreenath Paper Products IPO is Galactico Corporate Services.