Voler Car IPO: Day 2 Subscription Status, Latest GMP, Offer Size, Price Band And More

Voler Car IPO, which opened for subscription on Wednesday, has been subscribed over three times on Thurday. The SME IPO was booked 0.9 times on the opening day of bidding. The company, which offers home-to-office transportation services, aims to raise Rs 27 crore from the primary market through the IPO. Investors looking to bid in this SME IPO must check out these key details:

Voler Car IPO has been subscribed 3.33 times as of 5:20 p.m. on Thursday.

• Qualified Institutions: 3.51 times

• Non-Institutional Investors: 0.89 times

• Retail Investors: 4.28 times

*The subscription status will be updated at regular intervals.

The grey market premium on the Voler Car IPO was Rs 9 as of 4:29 p.m. on Feb. 13. According to InvestorGain, shares of Voler Car Ltd. are expected to make their market debut at Rs 99 on the NSE SME, marking a premium of 10% over the issue price. 

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

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. 

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. 

The subscription window for Voler Car IPO will remain open till Feb. 14. Share allotment in the issue is expected to be done on Feb. 17. This will be followed by 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 Feb. 19. 

Voler Car 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 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.

Voler Cars Ltd. has proposed to use the net proceeds from its IPO to fund its working capital requirement. A part of the funds raised in the IPO will also be used for general corporate purposes and IPO-related expenses. 

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.