Company | Nukleus Office Solution Limited |
Company Type | SME |
Sector | Co-working |
Promoter Holding- Pre IPO | 99.98% |
Promoter Holding – Post IPO | 66.38% |
Dilution (%) | 33.60% |
Fresh Issue | 13,54,800 Shares – INR 31.70 Cr. |
OFS | |
Offer Size | INR 31.70 Cr. |
Price Band | INR 234 per Share |
Cost for one lot | INR 1,40,400 |
No. of Share Post-IPO | 40,32,000 Shares |
Market Cap | INR 94 Cr. |
FY22 Profit | INR-0.5 Cr. |
FY23 Profit | INR-1Cr. |
FY24 Profit | INR 1.5Cr |
H1FY25 Profit | INR 1.5Cr |
P/E | 52x |
Last Year’s Sales Growth | 66% |
Opening Date | 24-Feb-2025 |
Closing Date | 27-Feb-2025 |
Listing Date | 4-Mar-2025 |
DRHP | https://www.bseindia.com/corporates/download/397306/DraftProspectus_20240917153757.pdf |
Question 1. What is the overview of the company?
Nukleus Office Solution Limited is a company operating in the co-working sector, providing flexible and shared office spaces to businesses, startups, and freelancers. The company offers an alternative to traditional office leases by providing scalable, affordable office solutions with shared resources and a collaborative working environment.

Core Business Model:
- Co-working Spaces: The primary business of Nukleus is renting out flexible office spaces that can be customized to suit the needs of various types of businesses. These spaces often include amenities like high-speed internet, meeting rooms, lounges, and administrative support, fostering a collaborative and productive work environment.
- Target Market: Nukleus primarily caters to startups, small businesses, remote workers, and larger companies seeking flexible office solutions. The demand for co-working spaces has grown due to the increasing number of remote and hybrid working models.
City Expansion:
Nukleus Office Solution is expanding its presence across various cities to tap into the growing demand for co-working spaces. This expansion focuses on establishing offices in key metropolitan areas as well as smaller, emerging cities.
Potential Expansion Strategy:
- Tier 1 Cities: The company is likely to continue expanding in major metropolitan areas such as:
- Mumbai
- Delhi
- Bangalore
- Hyderabad These cities are home to a large number of businesses, startups, and entrepreneurs who require flexible office solutions.
- Tier 2 & Tier 3 Cities: As demand for co-working spaces spreads, Nukleus may also target smaller cities with growing entrepreneurial activity, such as:
- Pune
- Chennai
- Ahmedabad
- Jaipur These cities have seen increasing numbers of startups and small businesses, creating a fertile market for flexible office space.
By expanding to both established and emerging cities, Nukleus can position itself as a leading player in the co-working space sector, catering to the evolving needs of businesses across the country.
Segment wise Revenue Bifurcation:

Details of Current Centres:


Upcoming Centres (Proposed)

Question 2: Who are the promoters of the company?
Here’s a general idea of what their roles might entail:
- Mr. Nipun Gupta: Likely a key figure in the company’s leadership, possibly in an executive or management role, such as CEO or Managing Director.
- Mrs. Puja Gupta: Could be involved in strategic or operational aspects of the company, potentially in a leadership or advisory capacity.
- Mr. Ajay Kumar: Likely also in a prominent management or operational role, contributing to the growth and direction of the company.
These individuals are likely the driving force behind the creation, development, and management of the company, with significant influence on its strategy and operations.
Question 3 : How company performed in the past?
Particular (INR Cr) | FY22 | FY23 | FY24 | 9MFY25 |
Total Revenue | 3.5 | 11 | 17 | 21.5 |
Net Profit | 0.5 | 1 | 1.5 | 1.5 |
Question 4: How much money is the company raising and why?
In the IPO, Nukleus Office Solution Limited is offering 13.54 lakh shares priced at INR 234 per share, totaling INR 31.70 Cr. The lot size is 600 shares. The proceeds from the IPO will be utilized for the following purposes:
- Capital expenditure and security deposit for new centres: INR 22.96 Cr.
- Building and integrating a technology platform, including online client interaction and mobile application development: INR 0.34 Cr.
- Advertisement expenses to enhance brand visibility: INR 0.49 Cr.
- General corporate purposes: INR 5.88 Cr.
Question 5: Valuation of company and comparison with other companies
Particulars | Market Cap (In Cr.) | P/E |
Nukleus Office Solution Limited | 94 | 52x |
Awfis Space Solutions Limited | 4807 | 145x |
Kontor Space Limited | 53 | 22x |
EFC (I) LImited | 2,381 | 22x |
DISCLAIMER: This document is created for educational and informational purposes only and should not be construed as a Buy/Sell recommendation, investment advice or a research report. Although the document accurately reflects the personal views of the authors ,there may be manual human errors in the document. The authors may also have equity shares in the companies mentioned in this report. Investor is advised to consult his/her investment advisor and undertake further due diligence before making any investment decision in the companies mentioned. Authors are not liable for any financial gains or losses due to investments made as per the information written in this document.