BSE SME Nukleus Office Solutions makes a poor debut

The scrip was listed at 187.20, at a discount of 20% compared with the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 196.55 and a low of Rs 177.90. About 4.66 lakh shares of the company changed hands at the counter.

Nukleus Office Solutions' IPO was subscribed 1 times. The issue opened for bidding on 24 February 2025 and it closed on 27 February 2025. The price of the IPO was set at Rs 234 per share.

The IPO comprised fresh issue of 10,65,000 equity shares and promoters' contribution of 2,89,800 equity shares.

The company intends to utilize the net proceeds for capital expenditure and security deposits towards establishment of new centers, building up technology platform, integrating of all centers, enabling online client interaction and mobile application development, advertising expenses to enhance the visibility of the brand and general corporate purposes.

Nukleus Office Solutions is a co-working and managed office space provider offering a variety of fully furnished and flexible workspaces. These include dedicated desks, private cabins, meeting rooms, innovative spaces, startup zones, and virtual offices, primarily in the Delhi NCR region. The company's office solutions cater to a diverse range of occupants, including startups, SMEs, large enterprises, professionals, and entrepreneurs. They also provide fully serviced and managed workspace solutions for enterprises with seating capacities ranging from 50 to 500. As of 31 December 2024, the company had total 30 employees.

The company recorded revenue from operations of Rs 21.34 crore and net profit of Rs 1.51 crore for the period as of 31 December 2024.