Wise Travel India Ltd IPO share allotment expected on February 15: Here’s how to check status

Car rental and transportation services provider Wise Travel India Ltd (WTI Cabs) is expected to announce the share allotment for its initial public offering on Thursday, February 15.

The WTI Cabs IPO received a strong response from retail and non-institutional investors (NIIs) with an overall subscription level soaring 148 times of the shares on offer. The subscription period for the maiden public offer of ₹94.68 crore ended on Wednesday, February 14.

WTI Cabs Ltd is expected to start refunds to unsuccessful bidders on February 16. The allotted shares will be transferred to the demat accounts of the successful bidders by Friday.

Following the end of the subscription period the WTI Cabs Ltd IPO shares are expected to be listed on the NSE SME platform, NSE Emerge on February 19.

Wise Travel India IPO allotment status: Steps to check

The Successful bidders for WTI Cabs IPO will be notified via SMS and registered email. However, investors who have applied for the WTI Cabs IPO can also check the share allotment status through the official websites of NSE and the company registrar, Beetal Financial and Computer Services (P) Limited.

How to check share allotment through NSE website

The National Stock Exchange of India (NSE) also provides information about the share allotment to investors. However, investors need to get registered with the NSE website. On registration, the investor receives an email notification from NSE providing the login details.

Bidders can easily check the share allotment by following these steps:

• Go to NSE website (https://www.nseindia.com)
• Login with username and password
• Select Wise Travel India IPO
• Enter PAN details
• Enter IPO application number
• Click on the ‘Submit’ button.

Steps to check WTI Cabs IPO share allotment status on registrar’s website

The investors can also check the allotment status through the official website of IPO registrar, Beetal Financial and Computer Services.

Follow these steps to check WTI Cabs IPO share allotment status:

• Go to official website of Beetal Financial and Computer: https://www.beetalfinancial.com
• Click on IPO section
• Select the Wise Travel IPO from the dropdown list
• Enter your application number, PAN or demat account number
• Click on ‘Submit’ to check share allotment status.

Wise Travel India Ltd IPO subscription status

The Wise Travel India Ltd IPO was subscribed 148.45 times on the final day on Wednesday, February 14. The IPO attracted total bids for 69.12 crore shares as against 46.56 lakh equity shares on offer.

The issue opened for subscription on February 12 and was oversubscribed on the first day itself, riding on strong demand from retail investors.

On the final day, qualified institutional buyers (QIBs) category received bids for 12,70,65,000 equity shares against 29,76,000 equity shares on offer, reflecting oversubscription of around 43 times.

The non-institutional investors (NIIs) placed bids for 33,61,86,000 equity shares against the quota of 8,94,000 equity shares, translating into an oversubscription of 376 times.

Retail individual investors category received bids for 22,66,49,000 equity shares against 20,84,000 equity shares reserved for them, showing subscription of 108 times.

Wise Travel India Ltd IPO offer size, price band, lot size and minimum investment

The Wise Travel India IPO was open for subscription from February 12 to 14, 2024. The company fixed the price band at Rs 140 per share to Rs 147 per share for the public offer. The minimum lot size was 1,000 equity shares.

Of the total IPO size, 4,38,000 equity shares were reserved for market makers and 17,85,000 equity shares for anchor investors. The maximum subscription amount for retail investors was ₹2,00,000 and for company employees the limit was ₹5,00,000.

Share India Capital Services Pvt Ltd was book running lead manager of the issue.

Wise Travel India, on February 9, garnered ₹26.23 crore from anchor investors ahead of the IPO. As many as six anchor investors placed bids who were allotted 17.85 lakh shares at the higher end of the price band at ₹147 per share.

The promoter and promoter shareholding are divesting their stake to 69.76% from 95.63% pre-IPO through the issue.

The company has said the IPO proceeds will be utilised for meeting working capital requirement and general corporate purpose.

About Wise Travel India Ltd

Wise Travel India (WTI) provides transport and car rental services across 130 cities in India. Its services include car rental, end-to-end employee transport solutions (MSP), employee transportation and flexible fixed/monthly rental plans. The company also provides fleet management, airport counters and a range of mobility services to companies across various sectors. The company offers a range of rental cars such as executive cars, luxury cars, SUVs, sedans and coaches.

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