Voler Car IPO Subscribed Over 4 Times on Day 3: Check GMP, Price Band, and Other Details
The SME initial public offering (IPO) of Voler Car concluded on Friday, February 14, with significant investor interest. The IPO was subscribed 4.98 times overall by 10:50 AM on the final day of bidding.
Check latest IPO every week updated in our main websiteSubscription Details
Here's a breakdown of the subscription status:
- Overall Subscription: 4.98 times
- Retail Portion: Subscribed 6.1 times
- Non-Institutional Investors (NII): Subscribed 4.28 times
- Qualified Institutional Buyers (QIB): Subscribed 3.51 times
Voler Car IPO GMP on Day 3
Ahead of its listing, the company's shares were trading with a Grey Market Premium (GMP) of Rs 9 in the unlisted market on Friday. This indicates a premium of 10% over the upper end of the IPO price band of Rs 90.
Allotment and Listing Dates
Key dates for investors to note:
- Share Allotment Finalisation: February 17
- Listing on NSE SME Platform: February 19
Price Band
The IPO was priced in the range of Rs 85-90 per share. Investors could bid for a minimum of 1600 shares in one lot and in multiples thereafter.
About Voler Car
Voler Car provides employee transportation services (ETS) to IT/ITeS companies, large corporations, and MNCs in major Indian cities.
Core Services Include:
- Comprehensive home-to-office-to-home transportation
- 24/7 customer service
- Dedicated location teams
- Verified vehicles and chauffeur-drivers
Key Operational Details:
- Manages a pooled fleet of over 2,500 vehicles
- Completed 3,23,550 trips in fiscal year 2023-24
- Averages over 884 trips per day
Asset-Light Model
Voler Car operates largely on an asset-light model, sourcing the majority of its vehicles from vendors rather than owning them. This strategy optimizes revenue through seat usage and employee mobility.
Financial Performance
For the period ended September 2024, the company reported:
- Revenues of Rs 21 crore
- Profit after tax of Rs 2.48 crore
Book Running Lead Manager and Registrar
- Book Running Lead Manager: GYR Capital Advisors
- Registrar: Kfin Technologies
Voler Car's successful IPO subscription reflects investor confidence in its business model and growth potential.
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