PNN
Mumbai (Maharashtra) [India], February 3: Wise Travel India Limited, a trailblazer in India's urban mobility sector, has announced its plan to go public with an Initial Public Offering on February 12, 2024. The company is aiming to raise Rs 94.68 Crores on upper band price through this IPO, with shares set to be listed on the NSE Emerge platform.
The fresh issue size is up to 64,41,000 equity shares at face value of Rs10 each.
Equity Share Allocation*
* QIB Anchor Portion - 17,85,000 Equity Shares
* Qualified Institutional Buyers (QIB) - 11,91,000 Equity Shares
* Non-Institutional Investors (NII) - 8,94,000 Equity Shares
* Retail Individual Investors (RII) - 20,84,000 Equity Shares
* Market Maker - 4,38,000 Equity Shares
* Reserved For Employee - 49,000 Equity Shares
* No of shares are subject to finalisation of Basis of Allotment
The net proceeds from the IPO will be utilized for Funding Working Capital Requirements and General Corporate Expenses. The bidding for Anchor portion will open on February 09, 2024 and the issue closes on February 14, 2024.
The Book Running Lead Manager to the Issue is Share India Capital Services Private Limited. The Registrar to the Issue is Beetal Financial & Computer Services (P) Limited.
Ashok Vashist, Founder & CEO of Wise Travel India Limited said, "As we approach the IPO milestone for Wise Travel India Limited, it's a momentous occasion for us. We started this journey in 2009 with a vision to redefine urban mobility in India. Our consistent commitment to innovation, sustainability, and customer service has positioned us as a trailblazer in the industry.
The funds raised will empower us to fulfil our working capital needs, further enhance our services and expand our presence while continuing our commitment to sustainability. I am optimistic about the possibilities that lie ahead as we shape the future of ground transport."
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