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01 May 2024

Wise Travel India Limited IPO

WTi provides integrated people transportation with the objective of providing best in class quality of service with an unmatched network spanning in 130+ cities of India. The operations are carried out with a large fleet of on-road and robust technology platforms. The objective behind the venture is to have Presence across the value chain through services in the corporate people transportation which includes Car Rental Services, Employee Transportation Services, Car Leasing, Coach Rentals, Technology, and Mobility Solutions. They have been growing across the nation since 2010.

Today WTi cabs is one of the largest & fastest growing people transportation companies in the country. WTI Cabs IPO is a book built issue of Rs 94.68 crores. The issue is entirely a fresh issue of 64.41 lakh shares. WTI Cabs IPO price band is set at ₹140 to ₹147 per share. The minimum lot size for an application is 1000 Shares. 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 Overview

Detail	Description
IPO Date	February 12, 2024 to February 14, 2024
Listing Date	February 19, 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 Timeline (Tentative Schedule)

Detail	Description
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

WTI Cabs IPO Lot Size

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

WTI Cabs IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	1,785,000 (27.71%)
Market Maker Shares Offered	438,000 (6.80%)
QIB Shares Offered	1,191,000 (18.49%)
NII (HNI) Shares Offered	894,000 (13.88%)
Retail Shares Offered	2,084,000 (32.36%)
Total Shares Offered	6,441,000 (100%)

WTI Cabs IPO Promoter Holding

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

WTI Cabs IPO Anchor Investors Details

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

Company & Financials

The company was established in 2009, Wise Travel India Limited is a transport company that offers car rentals and transportation services. The company offer services across 130 cities in India. The company offers a range of services including car rental, employee transportation, end-to-end employee transport solutions (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 and advisory on mobility, and community commute. WTI offers a variety of rental cars, including executive cars, luxury cars, coaches, SUVs, and sedans. The company offers services in cities such as Delhi NC, Mumbai, Pune, Hyderabad, Bangalore, Chennai, Chandigarh, Ahmedabad, Guwahati, Jaipur and Kolkata. The client base of the company includes Nokia, IndiGrid, Amazon, Microsoft, Tesco, Vedanta, Indigo, RBS, CocaCola American Express, Renault, LinkedIn, Hitachi, Cheli, Sapient, Panasonic etc.

Wise Travel India Limited Financial Information

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
Amount in ₹ Lakhs

Key Performance Indicator

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

	Pre IPO	Post IPO
EPS (Rs)	5.91	9.52
P/E (x)	24.81	15.45

Objectives of WTI Cabs IPO

The company intend to utilize the proceeds of the Issue to meet the following objectives:

● To Meet Working Capital Requirement
● General Corporate Purpose
● To Meet the Issue Expenses

WTI Cabs IPO Review

The company is a corporate transport and employees’ logistics provider operating on a B2B model. It has also opened its office in Dubai to offer services over there. The company marked growth in its top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears fully priced. Considering future prospects based on its financial parameters, investors may lap it p for medium to long term rewards.

FAQs for WTI Cabs IPO

What Is the Size of the Wise Travel India IPO?

Wise Travel India Limited’s IPO consists of a fresh issue of 64, 41,000 lakh shares. The company seeks funds for working capital and general purposes.
What Is the Price Band of the Wise Travel India IPO?

The company Wise Travel India’s IPO is going to issue shares at INR 140-147 per share.
When will Wise Travel India Limited's IPO be allotted?

The Basis of Allotment will happen on Thursday, February 15, 2024.
When will Wise Travel India Limited's IPO open for subscription?

The WTI Cabs IPO subscription window will open on Monday, February 12, 2024.
What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000 shares.
When will Wise Travel India Limited list on exchanges?

Wise Travel India Ltd IPO will be listed on the NSE Emerge on Monday, February 19, 2024.
What is the financial performance of Wise Travel India Private Limited?

Company’s revenue increased by 178.67% and profit after tax increased by 172.5% between the financial year ending with March 31, 2023 and March 31, 2022.