The first public offering (IPO) for Wise Travel India was available for subscription starting on February 12 and ended today, February 14. The Small and Medium Enterprise (SME) IPO received over 148.45 subscriptions on the final day of the auction.
Leading supplier of first-rate taxi services, WTicabs is expanding significantly and giving drivers the chance to work for themselves. The company was founded in 2009 and provides corporate clients in more than 250 Indian locations with all-inclusive transportation solutions.
For the current fiscal year, the company expects to generate ₹400 crore in total sales. WTI Cabs reported total sales of ₹190 crore and net profit of ₹11.33 crore rupees for the first half of 2023 (April-September).
Wise Travel India IPO
69,12,06,000 share applications were received by Wise Travel India IPO, out of the 46,56,000 shares that were offered. Based on NSE data, the SME issue was subscribed over 148.45 times on the final day of bidding. In comparison to the proposed 20,84,000 shares, the retail portion received 22,66,49,000 applications. On the last day, 12,70,65,000 and 33,61,86,000 applications were received, respectively, for the QIB and NII categories.
WTI Cabs IPO price band
The price range for WTI Cabs’ IPO is ₹140 to ₹147 per share. It is a ₹94.68 crore book constructed issue. The 64.41 lakh shares are being issued fully anew.
A minimum of 1000 shares, as well as multiples of that number, are up for bid. An application must have a minimum lot size of 1000 shares. Retail investors are required to invest a minimum of ₹147,000. HNI requires a minimum investment of two lots, or 2,000 shares, for a total of ₹294,000. Distribute The registrar of the WTI Cabs IPO is Beetal Financial & Computer Services (P) Limited, while the book running lead manager is India Capital Services Private Limited.
IPO GMP status
According to statistics by investorgain, on February 14, the shares of WTI Cabs IPO are available for a premium of ₹40 in the grey market, down from ₹76 the day before. This indicates that the IPO’s projected listing price may reach₹187, a 27.21 percent increase above the issue price of₹147. Analysts at investorgain.com estimate that the lowest GMP is ₹40 and the highest GMP is ₹135.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
