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- Wise Travel India Ltd
Wise Travel India Ltd IPO
The Company is engaged in the business of providing online car rental and taxi booking services in India. The operations are carried out with a large fleet of on-road and robust technology platforms. The objective behind the venture is to have presence across the value chain through services in the corporate people transportation which includes Car Rental Services, Employee Transportation Services, Car Leasing, Coach Rentals, Technology, and Mobility Solutions.
From 2009-11, WTI Cabs managed the entire Personal Ground Transportation Movement of XIX Commonwealth Games, 2010 in New Delhi. In 2012-14, the Company expanded operations to 7 major metros; it acquired India Fleet, a Group Co. of Trans Lease India Pvt. Ltd. It expanded the car rental fleet size to 2500+ cabs, again acquired Wyn Cabs & Smart Ride, a Coach Rental Company. In 2015, it commenced Managed Services in employee transportation.
The period from 2018-20 was earmarked by the Company's pledge to sustainability. Electric Vehicles becomes a significant part of the fleet, mirroring global aspirations for greener transportation. The Company thereafter ventured into tier 2,3 and 4 cities in 2021-22. Recognizing the global potential of its services, 2022 saw the brand preparing to go international. By 2023, WTI established nearly 17 airport counters. It introduced a Management Trainee Program, sculpting the next generation of transportation leaders.
The Company propose 64,41,000 Fresh Issue Equity Shares through Initial Public Offer.
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Wise Travel India Ltd IPO Timeline
Wise Travel India Ltd IPO opens on 12-Feb-2024, and closes on 14-Feb-2024. The Wise Travel India Ltd IPO bid date is from 12-Feb-2024 to 14-Feb-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Wise Travel India Ltd IPO Opening Date | 12-Feb-2024 |
| Wise Travel India Ltd IPO Closing Date | 14-Feb-2024 |
| Basis of Allotment | 15-Feb-2024 |
| Initiation of Refunds | 16-Feb-2024 |
| Credit of Shares to Demat | 16-Feb-2024 |
| Wise Travel India Ltd IPO Listing Date | 19-Feb-2024 |
Wise Travel India Ltd IPO Lot Size
Wise Travel India Ltd IPO lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or 147000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1000 | ₹147000 |
| Maximum | 1 | 1000 | ₹147000 |
Wise Travel India Ltd IPO Details
| Wise Travel India Ltd IPO Date | 12-Feb-2024 to 14-Feb-2024 |
| Wise Travel India Ltd IPO Face Value | Shares of ₹10 per share |
| Wise Travel India Ltd IPO Price | ₹140 to ₹147 per share |
| Wise Travel India Ltd IPO Lot Size | 1000 |
| Issue Size | Shares of ₹10 (aggregating up to ₹94.68 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹94.68 Cr) |
| Offer for Sale | - |
| Issue Type | Book Building - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Ashok Vashist, Hema Bisht, Vivek Laroia. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 To meet working capital requirement
- 2 General corporate purposes
Company Financials
Wise Travel India Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 242.02 | 413.53 | 24.18 |
| 03-2023 | 117.99 | 249.95 | 10.30 |
| 03-2022 | 60.03 | 89.7 | 3.78 |
| Amount in ₹ Crore | |||
- Experienced Promoters and Management Team.
- Quality Assurance of its Services.
- Established relationship with existing client.
- Scalable Business Model.
- There are outstanding legal proceedings and litigations against and by the Company, its Promoters, its Directors and its Subsidiaries. Any adverse outcome in any of these proceedings may affect its profitability and reputation and may effect on its results of operations and financial condition.
- The company has negative cash and cash equivalents generated during the year in the past based on the Restated Financial Statement of the Company and may, in future, experience similar negative cash flows.
- Its Registered Office, fleet parking space and branch office premises on Pan India basis are located on leased premises and there can be no assurance that these lease agreements will be renewed upon termination or that its will be able to obtain other premise on lease on same or similar commercial terms.
- The Company has a subsidiary namely, PT. WTI Trading & Mining Ventures (Indonesia), Audited Financials are not available with the Company.
- The company does not own registered trademark "WTi Intelligent Mobility". Its in ability or failure to protect its trademark may adversely affect its business on account of possible misuse by any third party.
- The Company has not complied or delayed in compliances with some statutory provisions of the Companies Act 2013. Such non-compliance and delayed compliance may attract penalties against the company which could impact the financial position of it to that extent.
- The Company has obtained Trade License from the local government authority of Bangalore for trade in all food items instead of supply of cab services.
- Its inability to receive or renew the necessary licenses, approvals and registrations in a timely manner or at all may lead to interruption of the Company's operations.
- The Objects of the Issue for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
- The company has issued Equity Shares during the preceding twelve months at a price which may be below the Issue Price.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
- Intense competition in the market of cab service Industry could affect its pricing, which could reduce its share of business from clients and decrease its revenues and profitability.
- The company does not have long-term agreements with most of its suppliers or customers and the loss of one or more of them or a reduction in their demand for its services could adversely affect its business, results of operations, financial condition and cash flows.
- Its success depends largely upon the knowledge and experience of its Promoters and other Key Managerial Personnel. Any loss of its key managerial personnel or its ability to attract and retain them could adversely affect its business, operations and financial condition.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company has not made any alternate arrangements for meeting its regular working capital requirements. If its operations does not generate the necessary cash flow, its working capital requirements may negatively affect its operations and financial performance.
- Its Promoter and Directors may have interest in the Company, Other than reimbursement of expenses incurred or remuneration.
- Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company even after the Issue which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Third party industry and statistical data in this Draft Prospectus may be incomplete, incorrect or unreliable.
- Its Promoters / Director Controls its Group Companies and its Promoter Group Entities and any default made by the Promoter Group Entities will also impact the Company.
- Its continued success is substantially dependent on the strength of its brand and its reputation.
- Any adverse change in regulations governing its business and business of its clients, may adversely impact its business prospects and results of operations.
- Any failure to comply with financial and other restrictive covenants imposed on it under its financing agreements may affect its operational flexibility, business, results of operations and prospects.
- The company has entered into and may enter into related party transactions in the future also.
- The company face foreign exchange risks that could affect its results of operations.
- Its marketing and advertising campaigns may not be successful in increasing the popularity of its products and offerings. If its marketing initiatives are not effective, this may adversely affect its business and results of operations.
- The company face competition from both domestic as well as international markets and its inability to compete effectively may have a material adverse impact on its business and results of operations.
- Its operating results could be adversely affected by weakening of economic conditions due to lock-down in all parts of India and other parts of world due to pandemic covid-19, or similar unforeseen events.
- The company is exposed to the risk of delays or non-payment by its clients and other counterparties, which may also result in cash flow mismatches.
- Its business is substantially affected by prevailing economic, political and other prevailing conditions in India.
- The average cost of acquisition of Equity Shares by its Promoters could be lower than the Issue Price.
- Its Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- The Issue Price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- A third party could be prevented from acquiring control of the Company because of anti-takeover provisions under Indian law.
- The requirements of being a listed company may strain its resources and distract management.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by it.
- Leveraging its Market skills and Relationships.
- Optimal Utilization of Resources.
- Improving operational efficiencies.
- To Build-Up a Professional Organization.
- Expansion of Business.
Wise Travel India Ltd IPO Promoter Holding
| Pre Issue Share Holding | 95.53% |
| Post Issue Share Holding | 69.67% |
Wise Travel India Ltd IPO Subscription Status (Bidding Detail)
The Wise Travel India Ltd IPO is subscribed 107.3135 times on Feb 14, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 107.3135 |
Wise Travel India Ltd IPO Prospectus
Wise Travel India Ltd IPO Listing Date
| Listing Date | 19 Feb 24 |
| BSE Script | 92591 |
| NSE Symbol | WTICAB |
| Listing In | NSE - SME |
| ISIN | INE623Y01011 |
| IPO Price | ₹147 |
| Face Value | ₹10 |
Wise Travel India Ltd IPO Registrar
Beetal Fin.& Comp. Ser.(P) Ltd
Phone: 011-2996 128 011-29961281-83/
Email: beetal@beetalfinancial.com / beetalrta@gmail.com
Website:
Wise Travel India Ltd IPO Lead Manager(s)
- Share India Capital Services Pvt Ltd
FAQs on Wise Travel India Ltd IPO
Wise Travel India Ltd IPO, which opens for subscription from 12-Feb-2024 to 14-Feb-2024 has an issue size of ₹94.68 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Wise Travel India Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Wise Travel India Ltd IPO Opens for subscription from 12-Feb-2024 to 14-Feb-2024.
The lot size of Wise Travel India Ltd is 1000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹147000 and ₹147000 respectively.
Allotment date for Wise Travel India Ltd is 15-Feb-2024 and refund of application amount (in case allotment is not received) will begin from 16-Feb-2024. If your allotment goes through, then shares will be credited in your Demat account by 16-Feb-2024.
The registrar for Wise Travel India Ltd IPO is Beetal Fin.& Comp. Ser.(P) Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Wise Travel India Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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