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Nukleus Office Solutions Ltd IPO
Status: Closed
Overview
IPO date
24 Feb 2025 to 27 Feb 2025
Face value
₹ 10 per share
Price
₹ 234 per share
Issue Size
1,354,800 shares
(aggregating up to ₹ 31.7 Cr)
(aggregating up to ₹ 31.7 Cr)
Allotment Date
28 Feb 2025
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Miscellaneous
Objectives of Nukleus Office Solutions Ltd IPO
Initial public offer of up to 13,54,800 equity shares of face value of
Rs. 10 each (equity shares) of Nukleus Office Solutions Limited (company / issuer) for cash at a price of Rs. 234 per equity share (including a share premium of Rs. 224 per equity share) (issue price) aggregating up to
Rs. 31.70 crores.
The issue includes promoters contribution of 2,89,800 equity shares aggregating up to Rs. 6.78 crores by the promoters (promoters contribution) and a reservation of up to 53,400 equity shares aggregating up to Rs. 1.25 crores for subscription by market maker (market maker reservation portion). The issue less the promoters contribution and market maker reservation portion is hereinafter referred to as the net issue. The issue (excluding promoters contribution) and the net issue shall constitute 26.41% and 25.09%, respectively, of the post-issue paidup equity share capital of the company.
Nukleus Office Solutions Ltd IPO Strategy
- Expand the scale of our operations using our market expertise and learnings.
- Brand Building through standardisation of services provided and uniform aesthetic designs for our centres.
- Maintaining capital efficiency through our hybrid model.
- Diversifying business operations through establishing centers in other metro, tier 1 & 2 cities including centers with 125-175 seating capacity.
- Focus on expanding and strengthening our relationships with existing clients as well as catering to new customers.
- Offering managed office spaces to businesses with long leases, focusing on partnering with creditworthy organizations for stability and reliability.
About Nukleus Office Solutions Ltd
Nukleus Office Solutions Limited was originally incorporated as 'Nukleus Office Solutions Private Limited' at Delhi as a Private Limited Company, dated September 27, 2019, issued by the RoC. Thereafter, the status of the Company was converted into a Public Limited and name of the Company was changed to Nukleus Office Solutions Limited' pursuant to a fresh Certificate of Incorporation dated July 29, 2024 issued by the RoC, Delhi NCR.
Founded by the Promoter, Nipun Gupta, the Company carries on the business of providing office space solutions including virtual offices, co-working & managed offices, including dedicated desks, private cabins, meeting rooms, innovative spaces, startup zones, virtual office etc. These include startups, SMEs, large enterprises, professionals, and entrepreneurs. They also provide fully serviced and managed workspace solution for enterprises ranging from 50-500 seats.
The Company attains growth by serving the clients with improving work environment with technological developments happening in the industry. The first co-working Centre of the Company started in Noida in 2019. Nukleus is strategically situated in key locations across Delhi (including business centres like Saket and Connaught Place), Noida, and Gurugram, placing it at the center of the National Capital Region. This includes sectors such as banking, IT, real estate, and online education. The Company also provide various amenities to in offices and centres including facilities such as waste management, uninterrupted power supply, sensitization facilities, etc.
The Company is planning an Initial Public Issue aggregating 13,54,800 No. of Equity Shares consisting a Fresh Issue of 10,65,000 Equity Shares and 2,89,800 Equity Shares through Offer for Sale.
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T&C*
Strengths vs Risks of Nukleus Office Solutions Ltd
Know the pros & cons
Strengths
Strategic locations with high demand for coworking spaces ensure accessibility and convenience for
businesses of all scales.- Promote Community Building through networking events and workshops.
- Customisable workspace along with flexible membership options.
- Integration of Technology and Digitalisation in our centres.
- Showing excellence in financial and operational performance.
- Our experienced Promoters and efficient Management team.
- Innovative marketing and sales strategies.
Risks
- The company has substantial indebtedness which requires significant cash flows to service, and limits its ability to operate freely.
- There are certain errors noticed in its notes to the audited financial statements for the Fiscal 2024, 2023 and 2022 which does not requires any corrective adjustment in the financial information. Any penalty or action taken by any regulatory authorizes for such erroneous disclosure may lead to penal action against the Company under the provisions of the Companies Act, 2013 for an amount of Rs. 10,000 and in case of continuing contravention of provisions of the Companies Act, 2013, with a further penalty of
Rs. 1,000 each day subject to a maximum of
Rs. 2,00,000 in case of a company and Rs. 50,000 in case of officer in default.
- Its may be unable to successfully grow the company business in new geographies in India and to realize the anticipated growth opportunities from such expansion of co-working spaces, which may adversely affect its business prospects, results of operations, financial condition and cash flows.
- Any failures to maintain the cleanliness, hygiene standards and ambience of the co-working places that the company offer, will adversely affect its client retention success and thus overall business, revenue from operations and financial performance.
- Negative customer experiences or negative publicity surrounding its co-working spaces could have an impact on the company ability to attract new corporate customers. Thus, its may also incur higher expenses towards business promotion in the future, to source more corporate customers which may have an adverse impact on its business and financial condition.
- The company depends on third parties for certain operations of its business. Any failures by such third parties to adequately perform their services could have an adverse impact on its business, results of operations, cash flows and financial condition.
- An inability to establish and maintain effective internal controls could lead to an adverse effect on its business, results of operations, cash flows and financial condition.
- The company coworking spaces are not fully occupied, which could make it difficult for it to cover the company fixed costs.
- Its historical performance is not indicative of the company future growth or financial results and its may not be able to sustain the company historical growth rates. Its inability to effectively manage the company growth or implement its growth strategies may have a material adverse effect on its business prospects and future financial performance.
- The company does not own its Registered Office and other centres and the operations are being conducted on premises that have been taken on lease. Any difficulty in seeking renewal or extension of such terms may cause disruption in its operations.
- The company may incur additional cost on marketing and advertising campaigns for increasing the brand
awareness of its services and such marketing and advertising campaigns may not be effective
compared to its competitors' advertising and promotional programs which could adversely affect its competitive position. Further, out of the Net Proceeds of the Issue, the company propose to spend Rs. 49.56 lakhs towards enhancing the visibility of its brand and advertisement across traditional and also digital platform to improve its reach and drives effective engagement to acquire new clients. Further, the amount proposed to be utilised for Advertisement expenses towards enhancing the visibility of its brand in Fiscal 2025 and 2026 is based on management estimates.
- Its may not be able to attract new clients in sufficient numbers, continue to retain existing clients, a portion of whom the company has only entered into service agreements ("Client Agreements") with short-term commitments, or agree at sufficient rates to sustain and increase its client base or at all.
- The company funding requirements and proposed deployment of the Net Proceeds of the Issue have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, its business, financial condition and results of operations may be adversely affected. Further, any variation in the utilization of the company Net Proceeds as disclosed in the Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
- Its online marketing listings or reviews on social media platforms may constitute internet advertisement, which subjects it to laws, rules and regulations applicable to advertising.
- Several expenses incurred in its operations are relatively fixed in nature, and the company inability to effectively manage such expenses may have an adverse effect on its business, results of operations, cash flows and financial condition.
- The company has incurred and may continue to incur capital expenditure in developing coworking spaces. If the development of these spaces is not completed within the estimated time or according to planned timelines and budgets, it may adversely affect its business, financial condition, and results of operations.
- The company has presence only in the Delhi NCR region and 100% of its revenue from operations are earned from such centre. Any adverse developments affecting such region could have an adverse effect on its business, cash flows, results of operation and financial condition.
- The company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of its business. Some of the approvals are required to be obtained by the company Issuer Company and any failures or delay in obtaining the same in a timely manner may adversely affect its operations.
- The company coworking business heavily relies on a few key clients. Losing one or more of these significant clients could have a negative impact on its business, financial stability, operational results, and cash flow.
- Its business could be adversely affected if the company large clients fails to renew their contracts with it or the company fails to acquire new customers.
- The company does not own its Corporate Office and the operations are being conducted on premises that have been operated in accordance with the Business Agreement with one of its Promoter Group company, Krishna Infosoutions Private Limited. Any difficulty in seeking renewal or extension of such terms may cause disruption in its operations.
- Disruptions or lack of basic infrastructure such as electricity and water supply could adversely affect its operations.
- The company operations entail certain fixed expenses, and its inability to reduce such costs during periods of low demand for the company solutions may have an adverse effect on its business, results of operations, cash flows and financial condition.
- Operational risks are inherent in its business as it involves providing high-quality services across the coworking spaces or managed office. Failures to manage such risks effectively could have adverse impact on its business, operations, and financial stability.
- There have been certain instances of delays /incorrect filings in the past with certain statutory authorities. If the authorities impose monetary penalties on it or take certain punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely be affected.
- Any failures of its information technology systems could adversely affect the company business and its operations.
- The company faces intense competition which may lead to a reduction in its market share and may cause it to increase the company expenditure on marketing and promotion as well as cause it to offer lower pricing, which may result in an adverse effect on its business and a decline in the company profitability.
- Its funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency. Its management will have broad
discretion over the use of the Net Proceeds.
- The company may requires additional equity or debt in the future in order to sustain its business growth, which might not be possible on favourable terms or even available at all.
- The Company, its Directors and its Promoters are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various courts and regulatory authorities. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business and financial status. A classification of these legal and other proceedings is given below.
- The success of its business depends substantially on the company management team and operational workforce. Its inability to retain them could adversely affect the company businesses.
- The company does not have certain documents evidencing the biographies and / or educational qualifications of certain of its Key managerial Personnel and Senior Management Personnel and have relied on the statement of marks and provisional certificate / affidavits submitted by such personnel for details of their profile included under the section "Its Management" of this Prospectus.
- A portion of its new clients originate from brokers. In the event such companies continue to gain market share compared to its direct booking channels or the company competitors are able to negotiate more favourable terms with such brokers, its business, cash flows and results of operations may be adversely affected.
- Certain sections of the Prospectus contain information from the Report titled "Commercial Office Space & Flexible Office Space in India" dated September 03, 2024 (Macro Section Updated on February 05, 2025) prepared by Dun & Bradstreet Information Services India Private Limited which the company commissioned and paid for and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.Further, there can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- The company has experienced negative cash flows from operating, investing and financing activities in the past.
- Its may be unable to sufficiently obtain, maintain, protect, or enforce the company intellectual property and other proprietary rights.
- After the completion of the Issue, its Promoters along with the Promoter Group will continue to
collectively hold substantial shareholding in the Company.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
- The company has experienced delays in payment of certain statutory dues including employee state insurance corporation contributions, provident fund contributions and income tax payments in the past.
- Its ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
- Its insurance coverage might not adequately protect the company against certain operating hazards and this may have a material adverse effect on its business.
- Its may become liable to the company customers and lose customers if the company has defects or disruptions in its service or if its provide poor service. The company may also be liable in the event of misuse of its services or platforms.
- The determination of the Issue Price is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS,
IFRS and U.S. GAAP, which may be material to investors' assessment of its financial condition.
Nukleus Office Solutions Ltd Peer Comparison
Understand the company’s industry standing
Nukleus Office Solutions Ltd
AWFIS Space Solutions Ltd
Kontor Space Ltd
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
17.1641
874.803
11.7052
EPS-Basis
19.71
---
3.15
EPS-Diluted
19.71
---
4.02
NAV Per Share
16.66
130.09
35.63
P/E-Basic EPS
11.87
---
30.41
P/E-Diluted EPS
---
---
---
RONW(%)
46.09
---
14.61
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 24 Feb 2025 & closes on 27 Feb 2025.
Nukleus Office Solutions Limited was originally incorporated as 'Nukleus Office Solutions Private Limited' at Delhi as a Private Limited Company, dated September 27, 2019, issued by the RoC. Thereafter, the status of the Company was converted into a Public Limited and name of the Company was changed to Nukleus Office Solutions Limited' pursuant to a fresh Certificate of Incorporation dated July 29, 2024 issued by the RoC, Delhi NCR.
Founded by the Promoter, Nipun Gupta, the Company carries on the business of providing office space solutions including virtual offices, co-working & managed offices, including dedicated desks, private cabins, meeting rooms, innovative spaces, startup zones, virtual office etc. These include startups, SMEs, large enterprises, professionals, and entrepreneurs. They also provide fully serviced and managed workspace solution for enterprises ranging from 50-500 seats.
The Company attains growth by serving the clients with improving work environment with technological developments happening in the industry. The first co-working Centre of the Company started in Noida in 2019. Nukleus is strategically situated in key locations across Delhi (including business centres like Saket and Connaught Place), Noida, and Gurugram, placing it at the center of the National Capital Region. This includes sectors such as banking, IT, real estate, and online education. The Company also provide various amenities to in offices and centres including facilities such as waste management, uninterrupted power supply, sensitization facilities, etc.
The Company is planning an Initial Public Issue aggregating 13,54,800 No. of Equity Shares consisting a Fresh Issue of 10,65,000 Equity Shares and 2,89,800 Equity Shares through Offer for Sale.
Nukleus Office Solutions Ltd IPO will close on 27 Feb 2025.
- Strategic locations with high demand for coworking spaces ensure accessibility and convenience for businesses of all scales.
- Promote Community Building through networking events and workshops.
- Customisable workspace along with flexible membership options.
- Integration of Technology and Digitalisation in our centres.
- Showing excellence in financial and operational performance.
- Our experienced Promoters and efficient Management team.
- Innovative marketing and sales strategies.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Nipun Gupta | 864623 | 32.3 | --- | --- |
| 2 | Puja Gupta | 1652323 | 61.72 | --- | --- |
- The company has substantial indebtedness which requires significant cash flows to service, and limits its ability to operate freely.
- There are certain errors noticed in its notes to the audited financial statements for the Fiscal 2024, 2023 and 2022 which does not requires any corrective adjustment in the financial information. Any penalty or action taken by any regulatory authorizes for such erroneous disclosure may lead to penal action against the Company under the provisions of the Companies Act, 2013 for an amount of Rs. 10,000 and in case of continuing contravention of provisions of the Companies Act, 2013, with a further penalty of Rs. 1,000 each day subject to a maximum of Rs. 2,00,000 in case of a company and Rs. 50,000 in case of officer in default.
- Its may be unable to successfully grow the company business in new geographies in India and to realize the anticipated growth opportunities from such expansion of co-working spaces, which may adversely affect its business prospects, results of operations, financial condition and cash flows.
- Any failures to maintain the cleanliness, hygiene standards and ambience of the co-working places that the company offer, will adversely affect its client retention success and thus overall business, revenue from operations and financial performance.
- Negative customer experiences or negative publicity surrounding its co-working spaces could have an impact on the company ability to attract new corporate customers. Thus, its may also incur higher expenses towards business promotion in the future, to source more corporate customers which may have an adverse impact on its business and financial condition.
- The company depends on third parties for certain operations of its business. Any failures by such third parties to adequately perform their services could have an adverse impact on its business, results of operations, cash flows and financial condition.
- An inability to establish and maintain effective internal controls could lead to an adverse effect on its business, results of operations, cash flows and financial condition.
- The company coworking spaces are not fully occupied, which could make it difficult for it to cover the company fixed costs.
- Its historical performance is not indicative of the company future growth or financial results and its may not be able to sustain the company historical growth rates. Its inability to effectively manage the company growth or implement its growth strategies may have a material adverse effect on its business prospects and future financial performance.
- The company does not own its Registered Office and other centres and the operations are being conducted on premises that have been taken on lease. Any difficulty in seeking renewal or extension of such terms may cause disruption in its operations.
- The company may incur additional cost on marketing and advertising campaigns for increasing the brand awareness of its services and such marketing and advertising campaigns may not be effective compared to its competitors' advertising and promotional programs which could adversely affect its competitive position. Further, out of the Net Proceeds of the Issue, the company propose to spend Rs. 49.56 lakhs towards enhancing the visibility of its brand and advertisement across traditional and also digital platform to improve its reach and drives effective engagement to acquire new clients. Further, the amount proposed to be utilised for Advertisement expenses towards enhancing the visibility of its brand in Fiscal 2025 and 2026 is based on management estimates.
- Its may not be able to attract new clients in sufficient numbers, continue to retain existing clients, a portion of whom the company has only entered into service agreements ("Client Agreements") with short-term commitments, or agree at sufficient rates to sustain and increase its client base or at all.
- The company funding requirements and proposed deployment of the Net Proceeds of the Issue have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, its business, financial condition and results of operations may be adversely affected. Further, any variation in the utilization of the company Net Proceeds as disclosed in the Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
- Its online marketing listings or reviews on social media platforms may constitute internet advertisement, which subjects it to laws, rules and regulations applicable to advertising.
- Several expenses incurred in its operations are relatively fixed in nature, and the company inability to effectively manage such expenses may have an adverse effect on its business, results of operations, cash flows and financial condition.
- The company has incurred and may continue to incur capital expenditure in developing coworking spaces. If the development of these spaces is not completed within the estimated time or according to planned timelines and budgets, it may adversely affect its business, financial condition, and results of operations.
- The company has presence only in the Delhi NCR region and 100% of its revenue from operations are earned from such centre. Any adverse developments affecting such region could have an adverse effect on its business, cash flows, results of operation and financial condition.
- The company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of its business. Some of the approvals are required to be obtained by the company Issuer Company and any failures or delay in obtaining the same in a timely manner may adversely affect its operations.
- The company coworking business heavily relies on a few key clients. Losing one or more of these significant clients could have a negative impact on its business, financial stability, operational results, and cash flow.
- Its business could be adversely affected if the company large clients fails to renew their contracts with it or the company fails to acquire new customers.
- The company does not own its Corporate Office and the operations are being conducted on premises that have been operated in accordance with the Business Agreement with one of its Promoter Group company, Krishna Infosoutions Private Limited. Any difficulty in seeking renewal or extension of such terms may cause disruption in its operations.
- Disruptions or lack of basic infrastructure such as electricity and water supply could adversely affect its operations.
- The company operations entail certain fixed expenses, and its inability to reduce such costs during periods of low demand for the company solutions may have an adverse effect on its business, results of operations, cash flows and financial condition.
- Operational risks are inherent in its business as it involves providing high-quality services across the coworking spaces or managed office. Failures to manage such risks effectively could have adverse impact on its business, operations, and financial stability.
- There have been certain instances of delays /incorrect filings in the past with certain statutory authorities. If the authorities impose monetary penalties on it or take certain punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely be affected.
- Any failures of its information technology systems could adversely affect the company business and its operations.
- The company faces intense competition which may lead to a reduction in its market share and may cause it to increase the company expenditure on marketing and promotion as well as cause it to offer lower pricing, which may result in an adverse effect on its business and a decline in the company profitability.
- Its funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency. Its management will have broad discretion over the use of the Net Proceeds.
- The company may requires additional equity or debt in the future in order to sustain its business growth, which might not be possible on favourable terms or even available at all.
- The Company, its Directors and its Promoters are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various courts and regulatory authorities. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business and financial status. A classification of these legal and other proceedings is given below.
- The success of its business depends substantially on the company management team and operational workforce. Its inability to retain them could adversely affect the company businesses.
- The company does not have certain documents evidencing the biographies and / or educational qualifications of certain of its Key managerial Personnel and Senior Management Personnel and have relied on the statement of marks and provisional certificate / affidavits submitted by such personnel for details of their profile included under the section "Its Management" of this Prospectus.
- A portion of its new clients originate from brokers. In the event such companies continue to gain market share compared to its direct booking channels or the company competitors are able to negotiate more favourable terms with such brokers, its business, cash flows and results of operations may be adversely affected.
- Certain sections of the Prospectus contain information from the Report titled "Commercial Office Space & Flexible Office Space in India" dated September 03, 2024 (Macro Section Updated on February 05, 2025) prepared by Dun & Bradstreet Information Services India Private Limited which the company commissioned and paid for and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.Further, there can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- The company has experienced negative cash flows from operating, investing and financing activities in the past.
- Its may be unable to sufficiently obtain, maintain, protect, or enforce the company intellectual property and other proprietary rights.
- After the completion of the Issue, its Promoters along with the Promoter Group will continue to collectively hold substantial shareholding in the Company.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the issue price.
- The company has experienced delays in payment of certain statutory dues including employee state insurance corporation contributions, provident fund contributions and income tax payments in the past.
- Its ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
- Its insurance coverage might not adequately protect the company against certain operating hazards and this may have a material adverse effect on its business.
- Its may become liable to the company customers and lose customers if the company has defects or disruptions in its service or if its provide poor service. The company may also be liable in the event of misuse of its services or platforms.
- The determination of the Issue Price is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchange.
- Significant differences exist between Indian GAAP and other accounting principles, such as Ind AS, IFRS and U.S. GAAP, which may be material to investors' assessment of its financial condition.
The Issue type of Nukleus Office Solutions Ltd is Fixed Price - SME.
The minimum application for shares of Nukleus Office Solutions Ltd is 600.
The total shares issue of Nukleus Office Solutions Ltd is 1354800.
Initial public offer of up to 13,54,800 equity shares of face value of
Rs. 10 each (equity shares) of Nukleus Office Solutions Limited (company / issuer) for cash at a price of Rs. 234 per equity share (including a share premium of Rs. 224 per equity share) (issue price) aggregating up to
Rs. 31.70 crores.
The issue includes promoters contribution of 2,89,800 equity shares aggregating up to Rs. 6.78 crores by the promoters (promoters contribution) and a reservation of up to 53,400 equity shares aggregating up to Rs. 1.25 crores for subscription by market maker (market maker reservation portion). The issue less the promoters contribution and market maker reservation portion is hereinafter referred to as the net issue. The issue (excluding promoters contribution) and the net issue shall constitute 26.41% and 25.09%, respectively, of the post-issue paidup equity share capital of the company.
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