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NSE SME Wise Travel India climbs on debut

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Shares of Wise Travel India were quoting at Rs 204.75 on the NSE, a premium of 39.29% compared with the issue price of Rs 147.
The scrip was listed at Rs 195, a premium of 32.65% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.
The counter hit a high of Rs 204.75 and a low of Rs 195. About 25,36,000 lakh shares of the company changed hands at the counter.
Wise Travel India's IPO was subscribed 107.31 times. The issue opened for bidding on 12 February 2024 and it closed on 14 February 2024. The price band of the IPO was fixed at Rs 140 to 147 per share.
The IPO comprised fresh issue of 64,41,000 shares. The promoter and promoter shareholding diluted to 69.76% from 95.63% pre-IPO.
The company intends to utilize for meeting working capital requirement, general corporate purpose and to meet the issue expenses.
Ahead of the IPO, Wise Travel India on 9 February 2024, raised Rs 26.23 crore from anchor investors. The board allotted 17.85 lakh shares at Rs 147 per share to 6 anchor investor.
Wise Travel India (WTI) is a transport company operating across 130 cities in India, offering a diverse range of car rental and transportation services. These include car rental, employee transportation, MSP, flexible fixed/monthly rental plans, airport counters, fleet management, mobility services for MICE, cutting-edge mobility tech solutions, sustainable mobility, project mobility solutions, strategic consulting, advisory on mobility, and community commute. WTI provides various rental car options, such as executive cars, luxury cars, coaches, SUVs, and sedans. As of October 2023, the company employed 784 individuals, including directors.
The company recorded revenue from operations of Rs 189.88 crore and net profit of Rs 11.36 crore for the period as on 30 September 2023.
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First Published: Feb 19 2024 | 1:03 PM IST

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