The Indian IPO market continues to witness strong activity in 2025, with companies across sectors raising capital to expand their operations. NSB BPO Solutions Limited, a prominent player in the Business Process Outsourcing (BPO) sector, is opening its IPO from September 23, 2025, providing investors a chance to participate in the growth of a diversified services company.
About NSB BPO Solutions Ltd.
Incorporated in 2005, NSB BPO Solutions Limited offers a wide range of outsourcing services, including customer care, telesales, tele-collections, document digitisation, application processing, KYC form processing, payroll management, and warehousing. The company also engages in trading FMCG and staple goods, leveraging its procurement and B2B distribution network.
Key services:
- Voice Business Call Centre: Handles inbound/outbound processes, customer queries, grievances, marketing calls, payment reminders, and feedback.
- Back Office Outsourcing: Document management, customer onboarding, warehousing, archival, digital support, and social media management.
- Payroll Management: Recruitment, onboarding, attendance, leave management, compliance, reporting, training, insurance, and attrition management.
- Trading of FMCG Goods: Dal, sugar, rice, dry fruits, fruits, vegetables, etc., using tele-sales for order booking and timely delivery.
As of August 31, 2025, the company employs 2,439 full-time employees.
Competitive Strengths:
- Quality-driven services and operations
- Experienced promoter and senior management team
- Strong client relationships and diversified revenue sources
NSB BPO Solutions IPO Details
NSB BPO IPO is a book-building issue of ₹77.91 crore, entirely a fresh issue of 0.53 crore shares, to be listed on BSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 23, 2025 |
| IPO Close Date | Sep 25, 2025 |
| Tentative Allotment | Sep 26, 2025 |
| Initiation of Refunds | Sep 29, 2025 |
| Credit of Shares to Demat | Sep 29, 2025 |
| Tentative Listing Date | Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 25, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹140 – ₹147 per share |
| Lot Size | 1,000 shares |
| Total Issue Size | 53,00,000 shares (₹77.91 Cr) |
| Reserved for Market Maker | 2,65,000 shares (₹3.90 Cr) |
| Net Offered to Public | 50,35,000 shares (₹74.01 Cr) |
| Issue Type | Bookbuilding IPO |
| Shareholding Pre-Issue | 1,46,72,593 shares |
| Shareholding Post-Issue | 1,99,72,593 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| Market Maker | 2,65,000 (5.00%) |
| QIB | 53,000 (1.00%) |
| NII (HNI) | 24,82,000 (46.83%) |
| Retail | 25,00,000 (47.17%) |
| Total | 53,00,000 (100.00%) |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,94,000 |
| Retail (Max) | 2 | 2,000 | ₹2,94,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,41,000 |
| S-HNI (Max) | 6 | 6,000 | ₹8,82,000 |
| B-HNI (Min) | 7 | 7,000 | ₹10,29,000 |
Promoter Holding:
The promoter of the company is Narendra Singh Bapna.
- Pre-IPO: 45.78%
- Post-IPO: 33.63%
Book Running Lead Manager: Inventure Merchant Banker Services Pvt. Ltd.
Registrar: Bigshare Services Pvt. Ltd.
Market Maker: Alacrity Securities Ltd.
NSB BPO Solutions Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 175.12 | 147.85 | 210.70 |
| Total Income | 138.54 | 128.27 | 285.15 |
| Profit After Tax | 8.54 | 4.78 | 2.21 |
| EBITDA | 18.87 | 12.98 | 8.14 |
| Net Worth | 135.06 | 103.95 | 78.58 |
| Reserves & Surplus | 124.85 | 93.99 | 102.20 |
Key Performance Indicators (FY2025):
- Market Cap: ₹293.60 Cr
- ROE: 7.92%
- ROCE: 9.42%
- Debt/Equity: 0.17
- RoNW: 7.92%
- PAT Margin: 7.98%
- EBITDA Margin: 13.62%
- Price to Book Value: 1.65
- EPS Pre-IPO: ₹5.82 | Post-IPO: ₹4.27
- P/E Pre-IPO: 25.27x | Post-IPO: 34.40x
NSB BPO Solutions IPO Objectives
| Object | Amount (₹ Crore) |
| Repayment/pre-payment of borrowings | 25.82 |
| Funding capital expenditure for a new project | 13.38 |
| Additional working capital for existing business | 9.02 |
| Long-term working capital for a new project | 20.00 |
| General corporate purposes | Balance |
Industry Outlook
The BPO sector in India is witnessing steady growth driven by:
- Rising demand for cost-effective outsourcing solutions in banking, telecom, e-commerce, and healthcare sectors.
- Expanding digital transformation and back-office automation services
- Increasing reliance of businesses on third-party vendors for customer support and operational efficiency
NSB BPO Solutions’ diversified service portfolio and strong operational capabilities position it well to benefit from this growing demand.
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NSB BPO Solutions IPO: Peer Comparison
Investors looking at NSB BPO Solutions Ltd. may also want to consider its peers in the business process outsourcing sector. Companies like eClerx Services Ltd, Firstsource Solutions Ltd, and One Point One Solutions Ltd offer similar BPO services, including back-office operations, customer support, and payroll management. Comparing NSB BPO Solutions with these peers can provide insights into industry trends, valuation metrics, and growth potential, helping investors make informed decisions when evaluating this IPO.
Conclusion
NSB BPO Solutions IPO presents an investment opportunity in a diversified BPO and services company with strong domestic operations and an experienced management team. While the company has shown consistent revenue and profit growth, investors should consider risks such as market competition, reliance on key clients, and macroeconomic factors affecting outsourcing demand.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
