NIS Management Limited IPO is set to launch its Initial Public Offering (IPO) on the BSE SME platform. Here are the comprehensive details.
Established in 1985 and headquartered in Kolkata, NIS Management Limited specializes in security and facility management services.
NIS Management Limited IPO Timeline
- Opening Date: August 25, 2025
- Closing Date: August 28, 2025
- Basis of Allotment: August 29, 2025
- Refunds Initiation: September 1, 2025
- Credit to Demat Accounts: September 1, 2025
- Listing Date: September 2, 2025
IPO Details
- Face Value: ₹10 per equity share
- Issue Size: ₹60.01 crore
- Fresh Issue: ₹51.75 crore (approximately 46.64 lakh equity shares)
- Price Band: ₹105 to ₹111 per equity share
- Lot Size: 1,200 Shares
- Issue Type: Book Built Issue
- Listing Platform: BSE SME
- Share Holding Pre Issue: 1,51,38,094 shares
- Share Holding Post Issue: 1,98,00,094 shares
GMP of NIS Management Limited IPO
As of August 21, 2025, the Grey Market Premium (GMP) for the NIS Management Limited IPO is ₹0, indicating no premium or discount in the unofficial trading market.
This suggests that investors are uncertain about the stock’s performance upon listing. The IPO is scheduled to open on August 25, 2025, and close on August 28, 2025, with a listing date set for September 2, 2025.
Promoters of NIS Management Limited
NIS Management Limited, a Kolkata-based company specializing in integrated security and facility management services, is led by a group of promoters with extensive experience in the industry.
1. Mr. Debajit Choudhury
- Managing Director and Co-Founder
- Founded the company in 1985 as a sole proprietorship.
- Instrumental in its evolution into a corporate entity in 2006.
- Brings over 35 years of experience in security and facility management services.
2. Ms. Rina Choudhury
- Whole-Time Director
- Joined the business in the mid-1990s and became a promoter.
- Leads the facility management division, securing contracts with major clients like the Taj Group and Oberoi Grand.
- Oversees operations across 14 states in India.
3. Ms. Susmita Mukherjee
- Promoter Director
- Serves as a Non-Executive Director.
4. Ms. Debahuti Chatterjee
- Promoter Director
- Plays a key role in strategic decision-making.
5. Ms. Nita Dey
- Promoter Director
- Involved in the company’s management and operations.
NIS Management Limited IPO Lot Size
Here’s a clear breakdown of the NIS Management Limited IPO lot size and related application details:
| Investor Category | Minimum Lots | Minimum Shares | Minimum Investment |
|---|---|---|---|
| Retail | 2 | 2,400 | ₹2,66,400 |
| S-HNI (Small HNI) | 3 | 3,600 | ₹3,99,600 |
| S-HNI (Max) | 7 | 8,400 | ₹9,32,400 |
| B-HNI (Big HNI) | 8 | 9,600 | ₹10,65,600 |
- Lot Size: Each lot consists of 1,200 shares.
- Retail Minimum Application: Requires a minimum of 2 lots (2,400 shares), amounting to ₹2,66,400.
Another source confirms similar details: lot size of 2,400 shares minimum (i.e., 2 lots) with required investment approximately ₹2,66,400.
NIS Management Limited IPO Promoter Holding
Here’s the breakdown of NIS Management Limited IPO promoter holding:
Promoter Shareholding Details
According to multiple credible sources, the promoter shareholding structure for NIS Management Limited around its IPO is as follows:
| Shareholding Status | Promoter Holding (%) |
|---|---|
| Pre-Issue | 95.99 % |
| Post-Issue | 69.63 % |
- Pre-Issue: Promoters collectively held approximately 95.99% of the company’s equity before the IPO.
- Post-Issue: Their stake is projected to reduce to around 69.63% after the IPO is completed.
About NIS Management Limited
- Founded in 1985 in Kolkata as “National Investigation and Security”, NIS initially offered guard services and investigative support.
- The business was later restructured into a corporate entity, NIS Management Limited, around 2006.
- The company expanded beyond traditional services to include electronic security, facility management, payroll servicing, housekeeping, fire safety training, and skill development via its training arm—Keertika Academy.
Services Offered
Facility Management Services include:
- Electrical & mechanical maintenance
- Carpentry, plumbing, sanitation
- BMS (Building Management Systems)
- AMC (Annual Maintenance Contract) handling
- Help desk operations, water treatment, pool maintenance, and more
Electronic Security and Surveillance via NISFMS (its subsidiary), offering:
- CCTV systems, access control systems (biometric, smart-cards)
- Alarm systems, visitor/vendor management, perimeter protection, tracking systems, PA systems, and more
Operational Footprint & Presence
- Branches: Operates across India with multiple branches including Kolkata (HQ), Agra, Bengaluru, Bhubaneswar, Delhi, Durgapur, Gujarat (Ahmedabad), Gurugram, Guwahati, Mumbai, Noida, Patna, Ranchi, and Siliguri.
- Training Infrastructure: Owns an in-house training academy—Keertika Academy—for employee skill development and quality control.
- Quality Standards: Certified with ISO 9001:2015 for quality management.
Clientele & Contracts
A Diverse & Prestigious Client Base
NIS serves an impressive range of clients across sectors:
| Sector | Notable Clients |
|---|---|
| Corporates / IT | TCS, Tech Mahindra, Larsen & Toubro, Philips, Emami |
| Hospitality & Clubs | The Oberoi Grand, J.W. Marriott, Radisson Blu, Calcutta Club |
| Retail & Malls | Forum, South City Mall, Future Retail, Metro Cash & Carry |
| Government & PSUs | Coal India, ONGC, WBSEDCL, Airports Authority of India |
| Healthcare | Fortis, CMRI, AMRI Hospitals |
| Education & Others | Presidency University, DPS Newtown, UNICEF |
Summary Snapshot
- Established: 1985 (Kolkata)
- Specialization: Integrated security, surveillance, facility management, housekeeping, training, payroll
- Geographical Spread: 14 states, national presence via branch network
- Clients: Major corporates, hospitality leaders, malls, educational institutions, hospitals, government agencies
- Quality Credentials: ISO-certified and equipped with an in-house training academy
- Financial Strength: Consistent revenue growth and prudent financial metrics
NIS Management Limited Financial Information
Here’s a detailed and accurate overview of NIS Management Limited financial performance, presented with clarity and supporting citations from reliable sources:
| Financial Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Total Income / Revenue | ₹295.26* Crores | ₹341.93 Crores | ₹380.06 Crores |
| Profit After Tax (PAT) | ₹13.25 Crores | ₹16.14 Crores | ₹18.40 Crores |
| Total Assets | ₹213.75 Crores | ₹225.72 Crores | ₹247.44 Crores |
| Net Worth | ₹98.41 Crores | ₹114.55 Crores | ₹132.96 Crores |
| Total Borrowings | ₹86.79 Crores | ₹87.22 Crores | ₹91.11 Crores |
| Reserves & Surplus | ₹91.43 Crores | ₹107.57 Crores | ₹125.97 Crores |
Trend Analysis
- Revenue Growth: From ~₹295 crore in 2022 to ~₹380 crore in 2024—a strong upward trend indicating robust top-line expansion.
- Profitability: PAT rose steadily from ~₹13 crore (2022) to ~₹18 crore (2024), with margins expanding modestly.
- Asset Base and Equity Strength: Total assets and net worth have both seen consistent growth, reflecting a stable and expanding capital base.
- Borrowing Levels: Borrowings remained moderate—around ₹87–91 crore—with improving debt-to-equity ratios, suggesting a balanced leverage profile.
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for NIS Management Limited, based on its IPO filing and available financial data:
| KPI | Value |
|---|---|
| Return on Equity (ROE) | ~15.0% |
| Return on Capital Employed (ROCE) | ~21.42% |
| EBITDA Margin | ~8.23% |
| Profit After Tax (PAT) Margin | ~4.42% |
| Debt-to-Equity Ratio | ~0.69 (2022) decreasing to ~0.55 (2024) |
| EPS (Earnings Per Share) | ₹25.28 (2024) |
| NAV (Net Asset Value per Share) | ₹182.69 |
| NAV (Total Net Worth) | ₹132.96 crore |
Interpreting These KPIs
- ROE of ~15% suggests that the company is effectively utilizing shareholders’ funds to generate profit, aligning with commonly accepted standards for good corporate performance.
- ROCE of ~21% confirms efficient use of both equity and debt capital to generate earnings.
- EBITDA and PAT margins indicate modest profitability trends—reasonable for a service-intensive business like facility and security management.
- Improving Debt-to-Equity ratio highlights a strengthening capital structure and reduced reliance on borrowing over time.
- EPS and NAV offer further insight into per-share valuation potential, useful for comparing against the IPO price band (₹105–111).
Strengths of NIS Management Limited IPO
Strong Regional Presence and Manpower Network
With operations in multiple key states—such as West Bengal, Bihar, Jharkhand, parts of North-East India, Uttar Pradesh, Odisha, and Maharashtra—NIS has developed deep sourcing capabilities for manpower, positioning it well in its service-oriented industry.
Efficient Workforce Structure
A standout “core-to-associate” ratio of around 1:129 means the company maintains a lean back-office team: just over 130 staff manage operations across 16,500+ personnel in 1,200+ sites.
Digital Operational Efficiency
The use of a mobile app–based attendance system enhances accuracy in time tracking and billing, reducing discrepancies and improving client trust.
Skilled Workforce Training Framework
Through its NSDC-certified training arm, Keertika Academy, the company ensures its workforce is well-trained and compliant with industry standards.
Consistent Financial Growth with Strong Client Relationships
NIS has demonstrated continued revenue and profitability growth, supported by long-term contracts and broad service offerings.
Conservative Capital Structure
The company reports improving debt metrics and manageable leverage, suggesting financial prudence.
Risks of NIS Management Limited IPO
Geographical Revenue Concentration
A significant share of revenue comes from West Bengal, exposing NIS to regional market fluctuations.
High Working Capital Needs with Elevated Receivables
The business has high receivables and working capital requirements, which can strain liquidity and cash flow.
Intense Competition in Service Industry
Fluctuations in contract renewals and pricing pressure from competitors can affect margins and revenue stability.
Margin Sensitivity to Wage Costs
The service-intensive model means profitability is vulnerable to changes in wage levels.
Delayed Receivables Affecting Cash Flow
Any lag in customer payments can put strain on operations and liquidity.
Credit Rating Concerns Due to Non-Cooperation
CRISIL downgraded (or maintained) the company’s bank rating at “B/Stable – Issuer Not Cooperating,” citing non-responsiveness from management. This introduces uncertainty around transparency and future creditworthiness.
Summary Table: Strengths vs. Risks
| Strengths | Risks |
|---|---|
| Strong regional network and manpower sourcing | Revenue heavily concentrated in West Bengal |
| Efficient core:associate manpower structure | High receivables and working capital intensity |
| Mobile-based digital attendance system | Competitive pressures could compress margins |
| NSDC-accredited training ensures skilled staff | Wage-driven margins and sensitive cost structure |
| Consistent top-line growth and client relationships | Delays in collections could harm cash flow |
| Conservative capital structure with improving debt metrics | Weak or unresponsive credit rating by CRISIL |
NIS Management Limited Contact Details
Here are the official contact details for NIS Management Limited, as provided on their corporate website:
Head Office / Registered Office (Kolkata)
- Address: 1st Floor, FL-1A(W), 489 Madurdaha, Kalikapur, Kolkata – 700107
- Phone: +91-85848-82644
- Email: info@nis.co.in
Kolkata Branches (Specialized Services)
- Housekeeping Office
Address: 816 Madurdaha, Kalikapur, 2nd Floor, Kolkata – 700107
Phone & Email: Same as above - Security Services Office
Address: 816 Madurdaha, Kalikapur, 3rd Floor, Kolkata – 700107
Phone & Email: Same - Electronic Security Office
Address: 58/99, Prince Anwar Shah Road, Kolkata – 700045
Phone & Email: Same
Other Regional Branches Across India
All branches generally use the same phone number and email. Key branch addresses include:
| City | Address (approximate) |
|---|---|
| Agra | H No. 63A/S/P-21A, Saraswati Kunj, COD Road, Agra – 282001 |
| Bengaluru | First Floor #7 G No. 10th Street, Ulsoor, Bengaluru – 560008 |
| Bhubaneswar | 15/2665, 1st Floor, Trinath Bazar, Baramunda (Near Ruchika Market) – 751003 |
| Delhi | E-96, 2nd Floor, Mansa Ram Park, Near Kali Mata Mandir, Uttam Nagar – 110059 |
| Durgapur | B-18, Sukanta Path, City Centre, Durgapur – 713216 |
| Gujarat (Ahmedabad) | 07, 1st Floor Vishwamitra Complex, Near Golden Triangle Complex, Sardar Patel Stadium, Navrangpura – 380014 |
| Gurgaon | 515, Near Saini Market, Chauma Khera Village Road, Gurugram – 122017 |
| Guwahati | House No. 60, Lachit Nagar, Guwahati – 781007 |
| Mumbai | “Hi-Life” Premises, Offices No. 37 & 38, 3rd Floor, Phiroz Shah Mehta Road, Santacruz (West), Mumbai – 400054 |
| Noida | L-244, Delta-II, Greater Noida, Gautam Buddha Nagar – 201308 |
| Patna | P.C. Colony, Opp. A-136, Kankarbagh, Patna – 800020 |
| Ranchi | Numkum, Kalinagar, Bargawan – 834010 |
| Siliguri | Vikram Motors Building, House No. H/199/1, Bardwan Road, Siliguri – 734005 |
Summary — Quick Contact Table
| Office Type | Address (Summary) | Phone | |
|---|---|---|---|
| Head Office (Kolkata) | 489 Madurdaha, Kalikapur, Kolkata – 700107 | +91-85848-82644 | info@nis.co.in |
| Kolkata Housekeeping Branch | 816 Madurdaha, 2nd Floor, Kolkata – 700107 | Same | Same |
| Kolkata Security Branch | 816 Madurdaha, 3rd Floor, Kolkata – 700107 | Same | Same |
| Kolkata Electronic Security | 58/99, Prince Anwar Shah Road, 4th Floor, Kolkata – 700045 | Same | Same |
| Other Regional Branches | Locations across India (see above) | Same | Same |
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