NSB BPO IPO Closes at 0.77x Overall; QIB Portion Oversubscribed 25.5x

October 7, 2025: The SME IPO of NSB BPO Solutions Limited closed on October 7 after a bidding period of 12 days at an overall subscription of 0.77 times for the 53 lakh equity shares on offer. The IPO, which was originally scheduled to close on September 25, was extended since early interest was subdued. Strong institutional demand propelled final-day numbers, with Qualified Institutional Buyers (QIBs) over-subscribing their share 25.49 times, while retail and non-institutional investors (NIIs) continued to be undersubscribed.

NSB BPO IPO Subscription Highlights

At the cut-off price range of ₹121-₹140, investor demand was focused at ₹121 per share with bids totalling 40.72 lakh shares. Even though QIBs showed a strong appetite, retail investors subscribed 0.20 times and NIIs 0.81 times of their respective allocation. This mismatch reflects strong confidence in institutional investors as against cautious retail participation.

NSB BPO IPO Revised IPO Terms and Timeline

The size of the IPO was ₹74 crore, price band ₹121–₹140 per share, and lot size 1,000 shares. The issue opened from September 23 to October 7, 2025, and the listing is to be done on October 10, 2025, on the BSE SME platform. Allotment closure will be done on October 8, refunds will be ordered on October 9, and demat account credit is anticipated on the same day. UPI mandates were closed on October 7 at 5:00 PM.

NSB BPO Solutions Ltd was incorporated in 2005. It offers end-to-end business process outsourcing solutions, such as voice call centres, tele-sales, document digitisation, KYC processing, warehousing, archiving, and payroll management. The firm has a workforce of more than 2,439 professionals and caters to industries like telecom, BFSI, insurance, food ordering, healthcare, education, and government. NSB has an FMCG trading business providing staples such as pulses, sugar, rice, and dry fruits for B2B customers. IPO proceeds will go toward debt repayment, working capital, and infrastructure growth.

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