214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

NSB BPO Solutions IPO Review

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NSB BPO IPO Date
  • IPO Open Date:
    23 Sep 2025
  • IPO Close Date:
    7 Oct 2025
  • IPO Allotment Date:
    8 Oct 2025
  • Tentative Refund Date:
    9 Oct 2025
  • IPO Listing:
    10 Oct 2025
Check NSB BPO IPO GMP

NSB BPO IPO Overview

Sector Update

Operates in Business Process Outsourcing (BPO) sector.

Growth drivers

Rising demand for outsourcing and digitisation across sectors is boosting BPO growth, as diversification into FMCG trading and strong financial performance drive scalability.

Financial Update:
(comparison of FY24 FY25 )
Revenue ₹128.03 cr ₹138.11 cr (+7.87%)
PAT ₹4.78 cr ₹8.53 cr (+78.45%)
PAT Margin 3.73 % 6.18 % (+65.68%)
EBITDA ₹12.98 cr ₹18.86 cr (+45.30%)
EBITDA Margin 10.14 % 13.66 % (+34.71%)
ROE 4.51 % 6.11 % (+35.48%)
ROCE 5.04 % 9.42 % (+86.90%)
D/E 0.26 0.17 (-34.62%)
Business Diversification

NSB BPO Solutions operates across four verticals: voice-based call centres, back-office outsourcing, payroll management, and FMCG trading. In FMGC Trading deals in staples like rice, sugar, pulses, dry fruits, and fresh produce through a B2B model leveraging its geographic presence for cost-efficient procurement.

IPO Valuation

PE Ratio: 34.40x Average Sector PE Ratio: 15.42x

NSB BPO IPO Reservation

NSB BPO IPO Share Allocation
QIB Shares Offered: 53000
− QIB (Ex. Anchor) Shares Offered : 53000
NII (HNI) Shares Offered: 2482000
- bNII > ₹10L: 1655000
- sNII < ₹10L: 827000
Retail Shares Offered: 2500000
Total Shares Offered: 5035000
NSB BPO IPO Lot Size
Application Lot Shares Amount
Individual investors (Retail) (Max) 2 2000 ₹294000
S-HNI (Min) 3 3000 ₹441000
S-HNI (Max) 6 6000 ₹882000
B-HNI (Min) 7 7000 ₹1029000

Interesting facts about IPO

IPO Size: ₹ 77.91 Cr.

Avg IPO Size (Sector Based):

₹ 7.51 cr.


SME IPO so far in this sector:

5

Merchant Banker: Inventure Merchant

SME IPO by BRLM so far:

34


SME IPO so far in this city:

6

PE Ratio: 34.40

Average Sector PE Ratio:

15.42 X

Price Band (Upper): ₹ 147.00

Listing Price:

₹ [●]

Business Profile

NSB BPO Solutions is engaged in the business of providing Business Process Outsourcing (BPO) services specializing in the area of support services solutions. They provide wide ranges of support services such as Customer Care and Customer help line Call Centre for clients, Tele-sales, Tele collections, Digitization of documents, Processing of application and KYC forms, warehousing and archival, Payroll management, etc. They believe in providing efficient and accurate services which is core value of the organization. Their focus is on achieving delivery standards and providing quality solutions using the latest technology and industry best practices. With a team of skilled professionals, they offer a diverse range of services to support various aspects of their clients' business operations for an ultimate end to end business solutions for need of the client business.

Strengths and Challenges as per DRHP

Strengths Image
  • Established track record of ~20 years in BPO services.
  • Diversified offerings across voice, non-voice, payroll, and digitization.
  • Wide client base across multiple industries.
  • Improving profitability and return ratios.
  • Low debt providing financial flexibility.
Strengths Image
WEAKNESSES Image
  • High dependence on few large clients for revenue.
  • Significant revenue contribution from FMCG trading, unrelated to core BPO.
  • Intense competition in the BPO and FMCG sectors.
  • Limited global presence compared to larger peers.
  • Business performance vulnerable to regulatory and compliance changes.
Strengths Image
S
W

Comparison of NSB BPO IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
NSB BPO IPO
vs
vs
vs

IPO Date
10th Oct 2025


IPO Size
₹ 77.91 Cr.

Total Assets
₹ 175.11 Cr.

Revenue
₹ 138.11 Cr.

PAT
₹ 8.53 Cr.

PAT Margin
6.18 %

Leverage Ratio
0.17 x

PE Multiple
34.40 x

EV/EBITDA
16.53 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

NSB BPO IPO Objectives (Objects of Offer) and expected Utilisation

Re-payment/pre-payment, in full or in part, of certain borrowings availed by the Company
[●]

Track Record of (Merchant Banker)/merchant Banker Report

Inventure Merchant Banker Services Private Limited, based in Mumbai is the Lead Manager (BRLM) of NSB BPO IPO. Inventure Merchant Banker Services Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Inventure Merchant Banker Services Private Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

NSB BPO Solutions IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on NSB BPO Solutions Financial Review Page

NSB BPO Solutions IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

NSB BPO Solutions IPO listed at a listing price of against the offer price of 147.00.

The current market price of NSB BPO Solutions is .

Services

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