Nukleus Office Solutions Limited IPO

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They are a leading co-working and managed office space provider in the Delhi NCR region, offering a diverse range of fully furnished and flexible workspace solutions. Their offerings include:

i. Dedicated Desks & Private Cabins
ii. Meeting Rooms & Innovative Spaces
iii. Startup Zones & Virtual Offices
iv. Fully Serviced & Managed Workspaces (50-500 seats for enterprises)

Their workspaces cater to a broad spectrum of clients, including startups, SMEs, large enterprises, professionals, and entrepreneurs.

As of December 31, 2024, they operate:
i. 7 co-working centres with flexible workspaces                              ii. 4 managed office spaces
iii. 2,796 total seats with 88.48% occupancy

They are committed to fostering an efficient, productive, and cost-effective workspace experience while driving future growth through innovation and excellence.

Objects of the Nukleus Office Solutions Limited IPO:

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: i. Capital expenditure and security deposit towards the establishment of new centres; ii. Building up technology platform, integration of all centres, online client interaction and mobile application; iii. Advertisement expenses towards enhancing the visibility of their brand and iv. General corporate purposes.
DRHP of Nukleus Office Solutions Limited IPO
RHP of Nukleus Office Solutions Limited IPO

Nukleus Office Solutions Limited IPO Details:

Open Date: Feb 24 2025
Close Date: Feb 27 2025
Total Shares: 13,54,800
Face Value: ₹ 10 Per Equity Share
Issue Size: 31.70 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 234 Per Equity Share
Listing At: BSE SME
Listing Date: Mar 04 2025

Promoters And Management:

Nipun Gupta, 48, a Commerce graduate from Delhi University, has 26+ years of experience across real estate, finance, infrastructure, and technology. He was recognized as the Youngest Entrepreneur from India by the UAE government. Since the company's incorporation in 2019, he has led its growth, strategic marketing, and financial performance. Puja Gupta, 46 years is Bachelor of Commerce (Honours Course) from University of Delhi. She is an entrepreneur and she manages backend operations in the Company. She has an experience of over 20 years. Her experience varies across real estate, infrastructure, finance, insurance and education sectors. Ajai Kumar, 71, is a Non-Executive Independent Director appointed on June 24, 2024. He holds M.Sc. (Physics), LLB, and CAIIB qualifications and has 40+ years of leadership experience in public sector banking, including roles as CMD of Corporation Bank, Executive Director at UCO Bank, and General Manager at Bank of Baroda.

Financials of Nukleus Office Solutions Limited IPO:

In Cr.
Particulars Dec 31, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 21.34 17.12 10.88 3.40
EBITDA 5.29 3.27 1.40 0.19
PAT 1.51 1.19 0.67 0.10
RONW 46.09% 101.31% 38.62%
D/E ratio 1.56 1.96 1.83
CFOA 5 10.99 2.88 -1.11

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Nukleus Office Solutions (FY 2024) 17.12 Cr. 19% 7% 1.96 94.34 Cr. 79.28*
Awfis Space Solutions (TTM) 1100 Cr. 32% 5% 2.46 4,758 Cr. 144
Kontor Space (TTM) 14.30 Cr. 28% 17% 0.19 52.90 Cr. 21.70
EFC (India) (TTM) 539 Cr. 50% 22% 1.55 2,334 Cr. 21.20
 *Forward PE is 46.93 on the basis of FY 25 PAT.

Recommendation on Nukleus Office Solutions Limited IPO:

Review and Recommendation of Nukleus Office Solutions Limited IPO by team IZ is 4/10.

Lead Manager of Nukleus Office Solutions Limited IPO:

  1. Sundae Capital Advisor

Registrar of Nukleus Office Solutions Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Nukleus Office Solutions Limited 1102, Barakhamba Tower 22 Barakhamba Road, Connaught Place New Delhi - 110001 Phone: +91 9667049487 Email: cs@nukleus.work Website: https://www.nukleus.work/

Discussion on Nukleus Office Solutions Limited IPO:

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