February 19, 2024
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SME IPO Listing Estimates
Wise Travel India Listing on 19 February 2024 (Issue price of Rs. 147)
In nutshell, about the business, from 2013 to 2014, WTI broadened its horizons, bolstering its car rental fleet to over 2500 cabs. This growth was complemented with the strategic acquisition of Wyncabs and Smart Ride, a prominent coach rental company, thereby serving an even broader clientele. By 2023, WTI marked its international debut, initiating operations in Dubai. This year also witnessed the establishment of 17 airport counters, facilitating travelers with seamless transportation. So, the business has very strong and growing.
Size: Net IPO size of 6003000 Shares/Rs.88.24 Cr is very large, even considering recent trends. However the IPO market sees huge hunger of the investors and hence even this IPO of large size may get fully subscribe easily.
Financial Snapshot: The shares are offered at PE multiple of 24.79 and considering strong growth potential of tourism related business, the IPO leaves enough room for listing gains.
The IPO has received good response from all the categories of the investors.
QIB: 3001500 Shares 106.69 T
NII: 900450 Shares 375.56 T
RII: 2101050 Shares 108.76 T
Total: 6003000 Shares 163.46 T
Lead Manager for the IPO is Share India Capital Services Pvt ltd.
Listing Estimate: Considering interest costs for the HNI investors and also prevalent premium of Rs. 71 in the grey market, the scrip is expected to get listed in the range of Rs. 225/235.
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