Voler Car IPO: Check Latest GMP, Day 3 Subscription Status, Allotment And Listing Date

The initial public offering of Voler Car IPO, which opened for subscription on Wednesday will conclude its bidding process on Friday, February 14. The SME IPO was subscribed over three times on Thursday.

The company, which offers home-to-office transportation services, aims to raise Rs 27 crore from the primary market through the IPO.

Here's all you need to know about the Voler Car IPO as bidding resumes on Day 3.

Voler Car IPO is an entirely fresh issuance of 30 lakh shares offered at a price band of Rs 85 to Rs 90 apiece. At the upper price band, the total offer size of Voler Car IPO is valued at around Rs 27 crore. It had raised Rs 7.50 crore from anchor investors ahead of its opening on Wednesday.

Retail investors are required to submit their bid with a minimum lot size of 1600 shares totalling an investment of Rs 1.44 lakh crore at the upper price band.

As per the RHP document, of the 30,00,000 shares on offer: 5,56,800 (18.56%) is reserved for Qualified Institutions, 4,19,200 (13.97%) for Non-Institutional Investors, 9,77,600 (32.59%) for Retail Investors and 8,33,600 (27.79%) for Anchor investors.

Voler Cars has appointed GYR Capital Advisors Pvt. as the sole book-running lead manager and Kfin Technologies Ltd. as the registrar for the issue. Wiinance Financial Services Pvt. is the market maker for this SME public offer. 

Voler Car IPO has been subscribed 13.42 times as of 4:30 p.m. on Friday.

• Qualified Institutions: 9.34 times

• Non-Institutional Investors: 18.53 times

• Retail Investors: 13.55 times

*The subscription status will be updated at regular intervals.

The grey market premium on the Voler Car IPO was Rs 5 as of 3:01 p.m. on Feb. 14. According to InvestorGain, shares of Voler Car Ltd. are expected to make their market debut at Rs 95 on the NSE SME, marking a premium of 5.56% over the issue price. 

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Share allotment of Voler Car IPO is expected to be done on February 17. This will be followed by the initiation of refunds for the non-allottees and credit of shares into the demat account of successful bidders on Feb. 18,

Shares of Voler Car IPO are proposed to be listed on the NSE SME platform, Emerge on February 19. 

Voler Cars Ltd. offers employee transportation services (ETS) to large MNCs and corporate clients. The company, incorporated in 2010, manages a fleet of over 2,500 vehicles, including cars, SUVs, electric vehicles, buses and tempo travellers. The company operates in Kolkata, Mumbai, Pune, Bhubaneshwar, Delhi-NCR, and Ahmedabad, offering corporate transportation with 24/7 customer service.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.