Voler Car IPO Day 2: NSE SME issue subscribed 2.72 times; check price band, lot size and key dates

Voler Car IPO: The initial public offering (IPO) of Voler Car Ltd has been subscribed 2.72 times on Thursday, February 13, the second day of bidding.

The employee transportation services (ETS) provider aims to raise ₹27 crore from the primary market through its initial share sale. Voler Car IPO will conclude on Friday, February 14.

On the second day of subscription until 3:15 pm, the IPO received bids for 58,91,200 shares compared to 19,92,000 shares on offer.

Ahead of the launch of its IPO, Voler Car raised a total of ₹7.5 crore from anchor investors. Its anchor bid date was February 11.

According to the circular on the NSE, the company allotted 8.33 lakh shares to six anchor investors at an offer price of ₹90 per equity share.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Voler Car Ltd.

Voler Car IPO price band and other details

Voler Car IPO comprises a fresh issue of 30 lakh shares, aggregating to ₹27 crore. The issue does not include any offer-for-sale (OFS) component.

The company has fixed the price band at ₹85 to ₹90 per share for the IPO, with a face value of ₹10 each. The minimum lot size is 1,600 shares.

GYR Capital Advisors Private Ltd is the book-running lead manager of the Voler Car IPO, while Kfin Technologies Ltd is the registrar for the issue. The market maker for the IPO is Wiinance Financial Services Private Ltd.

Voler Car IPO key dates

The IPO allotment status is expected to be finalised on Monday, February 17. Refunds will be issued on Tuesday, February 18, 2025, and the allottees will also receive shares in the Demat accounts on the same day.

The company has proposed to list shares on the NSE 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 a 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, general corporate purposes, and expenses involved in the IPO issue process.

The company reported 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.