Nukleus Office Solutions, based in Delhi NCR, India, made a weak stock market debut on March 5, 2025, with shares opening at ₹187.20 on NSE SME, 20% lower than the issue price of ₹234. The IPO, which was subscribed 1.29 times, aimed to raise ₹31.70 crore to fund expansion and technology development. The company provides co-working and managed office spaces across Delhi NCR, catering to startups, SMEs, and large enterprises.
Nukleus Office Solutions, a provider of co-working and managed office spaces in Delhi NCR, made a weak debut on the NSE SME exchange, with its stock opening at ₹187.20, a 20% discount from its issue price of ₹234 per share. The company, which raised ₹31.70 crore through its IPO, had a subscription rate of 1.29 times, indicating moderate investor interest.
Weak Market Debut Despite IPO Subscription
The IPO, which was open for bidding from February 24 to February 27, had a face value of ₹10 per share, with a minimum lot size of 600 shares. Despite the lukewarm response from investors, the company remains optimistic about its growth prospects in India’s expanding flexible workspace market.
Nukleus Office Solutions specializes in providing fully furnished and flexible co-working spaces, including private offices, startup zones, meeting rooms, and virtual offices. As of December 31, 2024, the company operates seven co-working centers and manages four additional office spaces in Delhi NCR, offering a total of 2,796 seats with an 88.48% occupancy rate.
IPO Details and Utilization of Funds
The IPO consisted entirely of a fresh issue of 13,54,800 equity shares, with no offer-for-sale component.
The company plans to allocate the proceeds towards:
- Establishing new co-working centers through capital expenditure and security deposits.
- Developing a technology platform to integrate all locations and improve online client interaction.
- Enhancing brand visibility through marketing efforts.
- Addressing general corporate requirements.
Sundae Capital Advisors served as the lead underwriter for the IPO, while Bigshare Services Pvt Ltd managed the registrarial functions. Nikunj Stock Brokers Limited was the designated market maker for the issue.
Grey Market Premium and Investor Sentiment
According to market reports, Nukleus Office Solutions’ grey market premium (GMP) remained at ₹0, indicating no additional demand beyond the issue price. This suggests that investor sentiment remains cautious despite the company’s established presence in the co-working sector.
As the company moves forward, its ability to maintain profitability and expand its market presence will be key in determining future stock performance.
