2024-02-20 22:25:41
Mumbai: The IPO of Wise Travel India i.e. WTI Cabs, a company providing taxi services in 130 cities of the country, got listed in the National Stock Exchange i.e. NSE today. Under this public issue, one share of face value Rs 10 was offered for Rs 147. In contrast, this share was listed in NSE today at Rs 195. That means Rs 48 on each share means net income of 32.65 percent. Within some time its share went to Rs 204.75 which is its upper circuit limit for today.
Was oversubscribed 160 times
The IPO of WTI Cabs received a good response from investors. This IPO was open for bidding from 12 to 14 February. It was oversubscribed 160 times on the last day of its IPO bidding. Its IPO was open for bidding from February 12 to February 14. The price band of its shares with face value of Rs 10 was Rs 140 to Rs 147 per share.
who was the registrar
The registrar of this IPO is Beetal Financial and Computer Services. WTI Cabs’ SME IPO was subscribed 160 times due to strong interest from non-institutional investors. In this, NII category was booked 375 times, followed by retail investors 108 times.
What will happen to the money raised from IPO?
Wise Travel India (WTI Cabs) is engaged in the business of providing online car rental and taxi booking services in India. It was established in the year 2009. At present it provides its services in 130 cities of India. The company plans to use the IPO proceeds for working capital requirements, general corporate purposes and issue expenses.
What is the company’s balance sheet?
The company had earned revenue of Rs 190 crore and net profit of Rs 11.32 crore during the quarter ending September 2023. The net worth of the company during this period was Rs 11.3 crore. Share India Capital has acted as the lead manager of the IPO of this company.