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Business News/ Markets / Ipo/  WTI Cabs IPO Day 3: Issue subscribed 148x on last day; check GMP, other details

WTI Cabs IPO Day 3: Issue subscribed 148x on last day; check GMP, other details

WTI Cabs IPO price band is set at ₹140 to ₹147 per share. It is a book built issue of ₹94.68 crores. The issue is entirely a fresh issue of 64.41 lakh shares.

WTI Cabs IPO (Photo: Courtesy WTicabs)Premium
WTI Cabs IPO (Photo: Courtesy WTicabs)

Wise Travel India initial public offerings (IPO) had opened for subscription on February 12 and closed today, February 14. On the last day of bidding, the small and medium enterprise (SME) IPO was subscribed over 148.45 times.

The company plans to utilise the net proceeds of the issue to meet working capital requirement, general corporate purpose and meet the issue expenses.

WTicabs, a leading provider of premium cab services, is experiencing substantial growth while providing self-employment opportunities for drivers. The company, established in 2009, currently offers comprehensive transportation solutions to the corporate sector in over 250 cities across India.

The company anticipates total revenue of 400 crore in the current fiscal year. In the first half (April-September 2023), WTI Cabs reported total revenue of 190 crore, with a net profit of 11.33 crore rupees.

WTI Cabs IPO subscription status

Wise Travel India IPO received 69,12,06,000 share applications against offered 46,56,000 shares. The SME issue was subscribed over 148.45 times on the last day of bidding, according to data by NSE.

The retail portion received 22,66,49,000 applications against offered 20,84,000 shares. Meanwhile, QIB and NII categories received 12,70,65,000 and 33,61,86,000 applications respectively on the final day.

WTI Cabs IPO details

WTI Cabs IPO price band is set at 140 to 147 per share. It is a book built issue of 94.68 crores. The issue is entirely a fresh issue of 64.41 lakh shares.

Investors can bid for a minimum of 1000 shares and in multiples thereof. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is 147,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to 294,000.

he allotment for the WTI Cabs IPO is expected to be finalized on Thursday, February 15, 2024. The IPO will list on NSE SME with tentative listing date fixed as Monday, February 19, 2024.

Share India Capital Services Private Limited is the book running lead manager of the WTI Cabs IPO, while Beetal Financial & Computer Services (P) Limited is the registrar for the issue. The market maker for WTI Cabs IPO is Share India Securities.

WTI Cabs IPO GMP today

The shares of WTI Cabs IPO are available at a premium of 40 in the grey market on February 14, down from 76 a day before, according to data by investorgain. This means that the estimated listing price of the IPO could be 187, which is 27.21 percent up from the issue price of 147.

Based on last 8 sessions grey market activities, today IPO GMP points downward and expects to drop more. The lowest GMP is 40, while the highest GMP is 135, as per analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.


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Published: 14 Feb 2024, 08:30 PM IST
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