Wise Travel India Limited IPO

Wise Travel India Limited (WTI) is set to make its mark in the market with its Initial Public Offering (IPO) valued at Rs. 94.68 crores. This book built issue comprises 64.41 lakh shares, offering investors an opportunity to partake in the growth of the company.

The subscription window for the WTI Cabs IPO opens on February 12, 2024, and concludes on February 14, 2024. Allotment is anticipated to be completed by February 15, 2024. The stock is slated to debut on the NSE SME platform on February 19, 2024.

WTI Cabs IPO presents a price band of Rs. 140 to Rs. 147 per share. Investors can participate with a minimum lot size of 1000 shares, translating to a minimum investment of Rs. 147,000 for retail investors. High Net Worth Individuals (HNIs) have a minimum lot size of 2 lots (2,000 shares), requiring an investment of Rs. 294,000.

WTI Cabs IPO Details

WTI Cabs is poised to introduce its Initial Public Offering (IPO) with meticulous details designed to attract investors seeking lucrative opportunities in the market.

The IPO subscription window spans from February 12, 2024, to February 14, 2024. Each share holds a face value of Rs. 10, with a price band ranging from Rs. 140 to Rs. 147 per share. The lot size is fixed at 1000 shares, offering investors flexibility in participation.

The total issue size stands impressively at 6,441,000 shares, aggregating to Rs. 94.68 Crores. This comprises entirely of fresh issue shares, indicating the company’s aim to raise capital for expansion and growth initiatives. The offering is categorized as a Book Built Issue IPO, ensuring transparency and efficiency in the process.

Upon completion, the shares will be listed on the NSE SME platform, providing accessibility to a broader investor base. Pre-issue, the company’s shareholding stands at 17,370,837, which is expected to increase to 23,811,837 post-issue, reflecting investor confidence and market demand. A market maker portion of 438,000 shares ensures liquidity and stability in trading.

WTI Cabs IPO presents an enticing opportunity for investors to partake in the growth story of a dynamic company in the transportation sector. With a robust issue structure and promising financials, this IPO is set to make waves in the market. Don’t miss out on the chance to be part of this exciting venture.

IPO Date	February 12, 2024 to February 14, 2024
Face Value	₹10 per share
Price Band	₹140 to ₹147 per share
Lot Size	1000 Shares
Total Issue Size	6,441,000 shares (aggregating up to ₹94.68 Cr)
Fresh Issue	6,441,000 shares (aggregating up to ₹94.68 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	17,370,837
Share holding post issue	23,811,837
Market Maker portion	438,000 shares

WTI Cabs IPO Reservation

Qualified Institutional Buyers (QIBs): This category is allocated up to 50% of the Net Issue, catering to institutional investors with substantial financial resources and expertise.

Retail Investors: Not less than 35% of the Net Issue is reserved for retail investors, providing ample opportunity for individual investors to participate in the IPO and benefit from the company’s growth potential.

Non-Institutional Investors (NIIs) or High Net Worth Individuals (HNIs): A minimum allocation of 15% of the Net Issue is designated for NIIs/HNIs, acknowledging their significant contribution to the market and ensuring their participation in the IPO process.

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Anchor Investors Drive Strong Initial Investment for WTI Cabs IPO

WTI Cabs IPO, scheduled to hit the market soon, has already attracted significant attention from anchor investors, who have committed a substantial amount to the offering. On February 9, 2024, the bid date for anchor investors, WTI Cabs managed to secure Rs 26.24 crore, reflecting confidence in the company’s potential. The IPO offered 1,785,000 shares to these anchor investors, indicating a strong initial interest in the offering.

To ensure stability in the initial trading phase, anchor investors have agreed to a lock-in period for their shares. Fifty percent of the anchor shares are subject to a lock-in period ending on March 16, 2024. The remaining shares have a longer lock-in period, ending on May 15, 2024, indicating a sustained commitment from these investors.

The substantial investment from anchor investors highlights the confidence they have in WTI Cabs and its growth prospects. This early backing not only provides a solid financial foundation for the IPO but also instills confidence in other potential investors. With strong anchor support, WTI Cabs IPO is poised for a successful debut in the market.

Bid Date	February 9, 2024
Shares Offered	1,785,000
Anchor Portion Size (In Cr.)	26.24
Anchor lock-in period end date for 50% shares (30 Days)	March 16, 2024
Anchor lock-in period end date for remaining shares (90 Days)	May 15, 2024

WTI Cabs IPO Timeline Tentative Schedule

Mark your calendars with the tentative schedule outlined by the company. This timeline ensures a smooth and efficient process for all involved parties.

IPO Opening and Closing: The IPO opens its doors for subscription on Monday, February 12, 2024, and closes on Wednesday, February 14, 2024. Investors should ensure their subscriptions are in before the closing date to participate.

Allotment Basis: The basis of allotment will be finalized on Thursday, February 15, 2024, determining the allocation of shares to investors.

Refunds and Share Credit: Initiating refunds and crediting shares to investors’ Demat accounts will commence on Friday, February 16, 2024, streamlining the post-subscription process.

Listing Date: Excitement mounts as the WTI Cabs IPO is set to make its debut on the stock exchange on Monday, February 19, 2024, providing investors with the opportunity to trade their shares.

Cut-off Time for UPI Mandate Confirmation: Investors are reminded that the cut-off time for UPI mandate confirmation is 5 PM on February 14, 2024, ensuring seamless transaction processing.

IPO Open Date	Monday, February 12, 2024
IPO Close Date	Wednesday, February 14, 2024
Basis of Allotment	Thursday, February 15, 2024
Initiation of Refunds	Friday, February 16, 2024
Credit of Shares to Demat	Friday, February 16, 2024
Listing Date	Monday, February 19, 2024
Cut-off time for UPI mandate confirmation	5 PM on February 14, 2024

With a clear timeline in place, investors can prepare themselves for the upcoming WTI Cabs IPO. By adhering to these dates and guidelines, participants can maximize their chances of securing shares in this promising offering.

WTI Cabs IPO Grey Market Premium (GMP)

The Grey Market Premium (GMP) for WTI Cabs SME IPO serves as a crucial indicator for investors, offering insights into market sentiment and potential listing performance. As of February 10th, 2024, 11:00 AM, the last reported GMP stands at Rs. 135, showcasing stability in investor confidence.

With the IPO’s price band set at Rs. 147, the estimated listing price is calculated at Rs. 282 (cap price + today’s GMP). This estimation predicts a significant percentage gain of 91.84% per share, highlighting the IPO’s attractiveness to investors.

Retail investors, subject to Sauda, are advised of the potential investment opportunity, with a specified amount of Rs. 102600. This provision ensures fair participation and transparency in the IPO process.

Daily updates on the GMP reflect dynamic market trends and investor sentiment. Over the past 11 sessions, the GMP has fluctuated, ranging from Rs. 51 to Rs. 135. These fluctuations signal varying levels of investor interest and expectation for the IPO’s performance.

GMP Date	IPO Price	GMP	Sub2 Sauda Rate	Estimated Listing Price	Last Updated
10-02-2024	147.00	₹135 No change	102600	₹282 (91.84%)	10-Feb-2024 11:00
09-02-2024	147.00	₹135 No change	102600	₹282 (91.84%)	9-Feb-2024 23:27
08-02-2024	147.00	₹135 No change	102600	₹282 (91.84%)	8-Feb-2024 23:32
07-02-2024	147.00	₹135 Up	102600	₹282 (91.84%)	7-Feb-2024 23:25
06-02-2024	147.00	₹115 Up	87400	₹262 (78.23%)	6-Feb-2024 23:30
05-02-2024	147.00	₹80 Down	60800	₹227 (54.42%)	5-Feb-2024 23:29
04-02-2024	147.00	₹90 No change	68400	₹237 (61.22%)	4-Feb-2024 23:30

As the IPO date approaches, staying informed about the Grey Market Premium is essential for investors seeking to make informed decisions. The GMP provides valuable insights into market dynamics and anticipated listing performance, empowering investors to navigate the IPO landscape with confidence. Stay tuned for daily updates on WTI Cabs SME IPO GMP to make well-informed investment choices.

WTI Cabs IPO Lot Size

Investment details to make informed decisions tailored to their preferences and financial capabilities.

Investors have the flexibility to bid for a minimum of 1000 shares and in multiples thereof, ensuring accessibility to a diverse range of participants. This bidding structure allows investors to tailor their investments according to their desired exposure to the IPO.

Retail investors can initiate bids starting from 1 lot, equivalent to 1000 shares, with a minimum investment of Rs. 147,000. This minimum threshold enables retail investors to participate effectively in the IPO without imposing excessive financial constraints.

High Net Worth Individuals (HNIs) have the option to bid for a minimum of 2 lots, totaling 2000 shares, with a minimum investment of Rs. 294,000. This elevated threshold reflects the higher financial capacity of HNI investors, enabling them to engage more significantly in the IPO.

Application	Lots	Shares	Amount
Retail (Min)	1	1000	₹147,000
Retail (Max)	1	1000	₹147,000
HNI (Min)	2	2,000	₹294,000

With a clear understanding of the lot size and investment options available, investors can strategize their participation in the WTI Cabs IPO effectively. Whether you’re a retail investor seeking to dip your toes into the market or an HNI looking to capitalize on substantial investment opportunities, WTI Cabs IPO offers a versatile platform for all.

WTI Cabs IPO Promoter Holding

Promoter holding dynamics of the WTI Cabs IPO sheds light on the company’s ownership structure and the extent of promoter involvement in the business.

The company is backed by prominent individuals including Mr. Ashok Vashist, Ms. Hema Bisht, and Mr. Vivek Laroia, who serve as the key promoters driving the company’s vision and strategy.

Pre-Issue Share Holding: Prior to the IPO, the promoters collectively hold a significant stake in the company, accounting for 95.63% of the total shares. This high pre-issue shareholding underscores the promoters’ strong commitment to the company and their belief in its potential for growth.

Post-Issue Share Holding: Following the IPO, the promoter holding is expected to decrease to 69.76%. While this reduction reflects the dilution resulting from the issuance of new shares to public investors, the promoters retain a substantial ownership stake, reaffirming their continued involvement and alignment with the company’s interests.

Share Holding Pre Issue	95.63%
Share Holding Post Issue	69.76%

Wise Travel India Limited Overview

Established in 2009, Wise Travel India Limited (WTI) has emerged as a leading player in the transport industry, offering innovative car rental and transportation solutions across India. With a presence in over 130 cities nationwide, WTI caters to a diverse clientele with its comprehensive range of services.

Range of Services: WTI prides itself on offering a wide array of services tailored to meet various transportation needs:

Car rental services spanning executive, luxury, SUVs, sedans, and coaches.

Specialized offerings such as employee transportation, fleet management, mobility solutions for MICE, and project mobility solutions.

Cutting-edge mobility tech solutions and strategic consulting on mobility, ensuring clients stay ahead in the rapidly evolving transportation landscape.

Extensive Client Base: WTI boasts a prestigious client base comprising industry giants such as Nokia, Amazon, Microsoft, CocaCola, Renault, and many more. The company’s commitment to quality service and reliability has earned it the trust of renowned corporations across sectors.

Employee Strength and Reach: With a dedicated workforce of 784 employees, including directors, WTI ensures seamless operations and exceptional service delivery. Its services extend to major cities like Delhi NCR, Mumbai, Bangalore, and Kolkata, among others, catering to the diverse mobility needs of urban India.

Wise Travel India Limited Financial Information Restated

Wise Travel India Limited has demonstrated remarkable growth in its financial metrics, showcasing a robust trajectory of expansion and profitability over recent years.

Revenue and Profit Surge: Between the financial years ending March 31, 2023, and March 31, 2022, the company experienced a substantial surge in revenue, witnessing a remarkable increase of 178.67%. Correspondingly, the profit after tax (PAT) also soared by 172.5%, reflecting efficient operational management and strategic initiatives.

Assets: The company’s asset base has expanded significantly, reaching Rs. 13,427.82 lakhs as of September 30, 2023, marking a notable progression from Rs. 6,002.64 lakhs recorded on March 31, 2022.

Net Worth and Reserves: Wise Travel India Limited’s net worth and reserves have shown steady growth, underscoring the company’s strengthened financial position and stability.

Total Borrowings: The company’s prudent financial management is evidenced by its controlled borrowing, with total borrowings showing a modest increase in line with the company’s expansion plans.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	13,427.82	12,161.21	6,002.64	5,271.17
Revenue	19,016.53	24,997.04	8,970.00	4,405.51
Profit After Tax	1,132.91	1,029.36	377.74	172.85
Net Worth	5,194.36	4,061.45	2,832.10	2,454.36
Reserves and Surplus	3,457.28	3,745.62	2,537.10	2,159.36
Total Borrowing	1,627.55	1,674.50	216.32	56.59

WTI Cabs IPO Key Performance Indicator

Key performance indicators (KPIs) provides valuable insights into the company’s financial health and growth prospects.

Market Capitalization: WTI Cabs IPO boasts a market capitalization of Rs. 350.03 Cr, reflecting its valuation in the market and investor interest in the offering.

Return on Equity (ROE): The company demonstrates a robust ROE of 29.79%, indicating its efficiency in generating returns for shareholders relative to equity investments.

Return on Capital Employed (ROCE): With an impressive ROCE of 22.90%, WTI Cabs efficiently utilizes its capital to generate profits, highlighting sound operational management.

Debt/Equity Ratio: The debt-to-equity ratio stands at a favorable 0.65, signaling a balanced capital structure and manageable debt levels.

Return on Net Worth (RoNW): WTI Cabs achieves a commendable RoNW of 25.28%, showcasing its ability to generate profits relative to its net worth.

Price-to-Book Value (P/BV) Ratio: The P/BV ratio of 6.28 suggests that the stock may be trading at a premium relative to its book value, indicating investor optimism and confidence in the company’s growth potential.

KPI	Values
ROE	29.79%
ROCE	22.90%
Debt/Equity	0.65
RoNW	25.28%
P/BV	6.28

Objects of the Issue WTI Cabs IPO Objectives

WTI Cabs has outlined clear objectives for the utilization of proceeds from the IPO, aiming to bolster its operations and fuel growth in strategic areas.

Meeting Working Capital Requirement: A portion of the proceeds will be allocated towards meeting the company’s working capital requirements. This infusion of funds will enable WTI Cabs to sustain and enhance its day-to-day operations efficiently, ensuring smooth functioning and continued service delivery.

General Corporate Purpose: The IPO proceeds will also be utilized for general corporate purposes, allowing WTI Cabs to pursue strategic initiatives aimed at expanding its market presence, enhancing customer experience, and driving overall business growth. These funds will support the company’s long-term vision and strategic objectives.

Covering Issue Expenses: Additionally, a portion of the funds raised will be allocated to cover the expenses related to the IPO. These include various fees and charges associated with the issuance process, ensuring seamless execution and compliance with regulatory requirements.