Voler Car IPO allotment: How to check status online on NSE, KFin Technologies

Voler Car IPO allotment status is expected to be finalised on Monday, February 17, following the end of the subscription period. The NSE SME issue closed with a strong bidding across investor categories on February 14.

The ₹27-crore public offer of the employee transportation services provider, which opened for bidding on February 12, was overall subscribed more than 13 times on the last day.

The retail portion of the IPO was subscribed nearly 14 times with bids for over 1.36 crore shares against the allocation of 9.77 lakh shares.

The non-institutional investors (NIIs) applied for more than 77.79 lakh shares compared to 4.19 lakh shares set aside for them. The NIIs booked their quota 18.5 times.

The qualified institutional buyers (QIBs) applied for more than 52 lakh shares against 5.56 lakh shares set aside for them, leading to a subscription of 9.34 times in the category.

Following the successful subscription, the IPO investors are waiting for the company to finalise the share allotment status. The investors can check the Voler Car IPO allotment status on the websites of the NSE and issue registrar, KFin Technologies Ltd.

Steps to check Voler Car IPO allotment status online on NSE

• Visit the NSE IPO allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose ‘Equity & SME IPO bid details’ from the two given options
• Select ‘Volercar’ from the list of IPO symbols
• Enter your IPO application number and PAN details
• Click ‘Submit’ to view the IPO allotment status

Steps to check IPO allotment status on KFin Technologies

• Open the IPO allotment status page on the official website of the issue registrar, KFin Technologies: https://ipostatus.kfintech.com/
• Select 'Voler Car Limited' from the drop-down menu for company names
• Choose any of these- PAN, Application Number, or Demat account
• Enter the relevant details as per the selected option
• Clear the Captcha verification
• Click on the ‘Submit’ button

It’s important to note that the IPO allotment status will only appear after the company finalises the share allocation.

Voler Car IPO key details

• Voler Car IPO comprised only a fresh issue of 30 lakh shares, aggregating to ₹27 crore. The SME issue did not include any offer-for-sale (OFS) component.
• The IPO price band was fixed at ₹85 to ₹90 per share. The minimum lot size was 1,600 shares.
• GYR Capital Advisors Pvt Ltd was the book-running lead manager of Voler Car IPO. Wiinance Financial Services Private Ltd was the market maker for the IPO.
• Following the IPO allotment, refunds will be issued on Tuesday, February 18, and the allottees will also receive shares in their Demat accounts the same day.
• The company has proposed to list its shares on the NSE SME platform, on Wednesday, February 19.

About Voler Car and use of IPO proceeds

Voler Car Limited provides employee transportation services (ETS) to IT/ITeS companies, large corporates and multinational clients across major cities in India. With a fleet of over 2,500 vehicles, including electric cars, sedans, SUVs, buses, and tempo travellers, Voler Car Limited manages approximately 1,183 trips per day on average, demonstrating significant growth in the number of trips compared to the previous year.

The company operates in nine major cities, including Kolkata, Mumbai, Pune, Delhi-NCR, Ahmedabad, Lucknow, Bhubaneshwar, Jaipur and Ludhiana.

The company intends to utilise the proceeds generated from the fresh issue to fund its working capital requirements and general corporate purposes.

For the six months ended September 30, 2024, Voler Car reported a revenue from operations of ₹21.49 crore for the period ended on September 30, 2024. The profit after tax (PAT) was recorded at ₹2.48 crore during the same period.

For the financial year ended March 31, 2024, Voler Car’s revenue from operations was reported at ₹30.9 crore compared to ₹23.96 crore in the preceding fiscal year (FY23). Profit after tax for FY24 was ₹3.56 crore compared to ₹1.99 crore in FY23.