NACDAC Infrastructure Limited is a construction company specializing in the construction of multi-story buildings, residential, commercial, and institutional structures. NACDAC Infrastructure IPO looks to raise Rs 10.01 crores. The issue is entirely a fresh issue.
IPO opens
December 17, 2024
IPO Closes
December 19, 2024
IPO Size (Rs.)
Rs 10.01 crores.
Breakup
Fresh issue only
Face Value:
₹ 5
IPO Price in Rs :
₹₹33 to ₹35 per share
Minimum Lot
4000 Shares
Listing At
NSE SME
QIB Quota
~50%
NII Quota
~15%
Retail Quota
~35%
Lead Manager
GYR Capital Advisors Private Limited
Registrar
Maashitla Securities Private Limited
Market maker
Giriraj Stock Broking Private Limited
About: NACDAC Infrastructure
Company was originally incorporated and registered as a private limited company in June, 2012.
They are primarily a core-construction company specializing in comprehensive range of civil and structural services.
Their core offerings encompass the construction of multi-story buildings, electrical works (both Low- Tension & High-Tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works. With a strong focus on quality and efficiency, company serves a diverse clientele spanning government agencies, and private corporations.
They have successfully completed many projects in various departments of various departments of Government of India and Government of Uttarakhand.
Financials: NACDAC Infrastructure IPO
Particulars/ Rs. Lacs
7m FY25
2024
2023
2022
Revenue from Operations
1371.95
3629.68
1172.19
1030.73
Profit for the year
160.42
316.9
56.15
31.55
Equity Share Capital
766.51
766.51
464.15
437.58
Net Worth
1361.22
1200.8
581.2
487.77
Restated Net Asset Value
17.76
15.67
9.58
8.48
Total Borrowings (5)
811.17
643.24
9.49
189.92
Post issue Share Capital
1,053
FV
10.0
IPO price
35.0
EPS Fy24
3.0
PE Fy24
11.6
EPS Fy25 (annualized)
2.6
PE Fy25 (annualized)
13.4
Market cap in Lacs
3,686
Market cap / Sales
1.02
Anchor: NACDAC Infrastructure IPO
NACDAC Infrastructure IPO : Salient Points
This is a fresh issue only.
Company provides construction work of projects on contractual basis and is performed by labour provided by third party labour contractors.
Most of the proceeds from IPO will go towards working capital needs.
Successfully executed numerous projects for various departments of the Government of India and Government of Uttarakhand as well projects in private sector.
Over the years, they have successfully completed 63 projects worth ₹ 9674.88 lakhs approximately.
Top 5 projects under execution
Sr.No.
Particular of Work Nature of Projects
Client Name
Total Contract Value(Amt ₹ in Lakhs)
Status
1.
Upgradation of Roorkee Railway Station under Amrit Bharat Station Scheme
Northern Railways, Moradabad Division
814.75
In Progress
2.
Upgradation of Harrawala Railway Station under Amrit Bharat Station Scheme
Northen Railways, Moradabad Division
1121.01
In Progress
3.
Construction of Bus Terminal and Workshop Building at Ramnagar Bus Stand Ramnagar Distt. Nainital Uttarakhand
Uttarakhand Peyjal Nigam Haldwani
2474.69
In Progress
4.
Construction of Driving Testing track building at Gaulapar Haldwani
Uttarakhand Peyjal Nigam Haldwani
442.60
In Progress
5.
Construction of Driving School Campus at Gaulapar Haldwani
Uttarakhand Peyjal Nigam Haldwani
1994.24
In Progress
Debt/Equity Ratio is 0.6
Peers: Company has shown K2 Infra, Suraj Estate, SRM Contractors, as listed peers. Valuations appear to be reasonable compared to peers.
In last 3 fiscals both revenues and profits have shown good uptrend and now company can bid for bigger projects.
PE (annualized) 33.3x ; PE Fy24: 34.68x
I intend to apply in NACDAC Infrastructure IPO. This is a small issue and valauations look reasonable.
GMP as reported on social media is more than 100%.
Lead Manager Indorient Financial Services Ltd Services Private Limited has a fair track record based on past listings.
Market Maker Alacrity Securities Ltd too has a fair record if we go by past listings.
SME IPOs are quite volatile and new retail investors need to exercise considerable caution in my view.
This post is exploratory and educational purposes only. Please do your own diligence before investing in SME IPOs like this.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.
