Wise Travel India IPO

In the travel industry, the announcement of the Wise Travel India IPO shines as a beacon of opportunity amid challenges. Wise Travel India Limited, established in 2009, has been a pioneering force, reshaping urban mobility with innovative transportation solutions.

This blog aims to unravel the intricacies of the Wise Travel India IPO, examine the IPO details and provide investors with essential insights to navigate this promising investment opportunity.

Wise Travel India IPO Details



Parameter Details
IPO Date February 12, 2024 to February 14, 2024
Listing Date 19 February 2024
Face Value ₹10 per share
Price Band ₹140 to ₹147 per share
Lot Size 1000 Shares
Total Issue Size 6,441,000 shares (aggregating up to ₹94.68 Cr)
Fresh Issue 6,441,000 shares (aggregating up to ₹94.68 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Shareholding Pre-Issue 17,370,837 shares
Shareholding Post-Issue 23,811,837 shares
Market Maker Portion 438,000 shares (Share India Securities)

Checkout the List of Upcoming IPO.

The WTI IPO, also known as the WTI Cabs IPO, is a book-built issue aiming to raise Rs. 94.68 crores. This offering comprises entirely fresh issue shares, totalling 64.41 lakh shares.

Investors keen on participating can subscribe to the IPO between February 12, 2024, and February 14, 2024. Allotment for the IPO is expected to be finalised on February 15, 2024, with listing scheduled on NSE SME by February 19, 2024. The price band for the WTI Cabs IPO is fixed at Rs. 140 to Rs. 147 per share.

For retail investors, the minimum lot size for application is 1000 shares, requiring a minimum investment of Rs. 147,000. High Net Worth Individuals (HNI) must invest in a minimum of 2 lots, equivalent to 2000 shares, totalling Rs. 294,000.

About Wise Travel India

Since its inception in 2009, Wise Travel India Limited (W.T.I.) has been at the forefront of revolutionising urban mobility and redefining transportation services. Specialising in diverse car rental solutions, from chauffeur-driven cabs to fleet management, W.T.I. has expanded its reach globally with ventures like WTI RENT A CAR L.L.C. in Dubai.

Notably, the company orchestrated transport for the 2010 Commonwealth Games, showcasing its prowess in large-scale event logistics. With a commitment to innovation, sustainability, and global expansion, Wise Travel India Limited is poised to significantly impact the transportation industry, epitomising service and innovation excellence.

IPO Timeline

Event Date
IPO Open Date Monday, February 12, 2024
IPO Close Date Wednesday, February 14, 2024
Basis of Allotment Thursday, February 15, 2024
Initiation of Refunds Friday, February 16, 2024
Credit of Shares to Demat Friday, February 16, 2024
Listing Date Monday, February 19, 2024
Cut-off time for UPI mandate confirmation 5 PM on February 14, 2024

IPO Objectives

The WTI Cabs IPO's primary objectives are to fortify the company's operational capabilities and facilitate its growth trajectory.

  • Firstly, a significant portion of the proceeds will be allocated towards meeting the company's working capital requirements, ensuring smooth day-to-day operations and sustaining business activities.
  • Secondly, funds will be allocated for general corporate purposes, allowing the company to pursue strategic initiatives, expand its market presence, and enhance customer offerings.
  • Last but not least, a portion of the proceeds will be utilised to cover the expenses associated with the IPO process, including underwriting, legal, and marketing expenses. Wise Travel India Limited aims to bolster its financial position, optimise its operational efficiency, and capitalise on emerging opportunities within the dynamic travel industry by addressing these objectives.

Grey Market Price (GMP) for Wise Travel India IPO

The Grey Market Price (GMP) for the Wise Travel India IPO, commonly referred to as the WTI Cabs IPO, plays a significant role in gauging investor sentiment and predicting the stock's listing performance. Typically, GMP trading commences several days before the IPO opens and persists until the listing date, offering insights into market dynamics.

Two pivotal factors influence the GMP: market conditions and IPO subscription levels. Market liquidity and overall sentiment profoundly impact the GMP, reflecting investors' appetite for the stock. Moreover, the extent of subscription to the IPO is a crucial indicator of investor interest, directly influencing the GMP.

It's essential to note that the GMP is an unofficial price point, serving as a popular informal gauge rather than an official valuation. However, it often provides valuable insights into demand and supply dynamics, offering a broad idea of the stock's listing performance and post-listing prospects. As investors navigate the intricacies of the Wise Travel India IPO, monitoring the GMP can offer valuable clues about potential market reception and post-listing performance.

Wise Travel IPO Allotment Status

To check your allotment status for the WTI Cabs IPO, simply follow these steps -

  1. Visit the https://ris.kfintech.com/ipostatus/ link and click on the status check button below.
  2. Choose the company name from the dropdown menu.
  3. Enter your PAN Number, Application Number, or DP Client ID (Choose any one).
  4. Click on the "Search" button.

Upon securing the allotment, you'll receive the equivalent shares credited to your Demat account.

Conclusion

The Wise Travel India IPO represents a significant opportunity for investors in the dynamic travel industry. With its innovative solutions and global expansion, Wise Travel India Limited has positioned itself as a leader in urban mobility. The IPO's objectives align with the company's growth ambitions, promising to fortify its operational capabilities. Moreover, monitoring the Grey Market Price (GMP) offers valuable insights into market sentiment, aiding investors in navigating this promising investment opportunity.

How to apply in IPO via UPI on Dynami

A simple and smartest way to Apply in IPO online via Religare Dynami Mobile App

How to apply for Wise Travel India IPO?

Retail investors need to apply for the IPO using UPI

UPI

  • Link your bank account to a UPI ID.
  • Register your UPI id with your Demat account.
  • Subscribe for Wise Travel India IPO and approve the payment on your UPI ID.

Demat Account

  • If you are an existing Dynami user, Pre-Apply Now!
  • If you’re a new investor, open an Dynami Demat account for free and begin your investment journey.

How to open a Demat & Trading Account?

Demat & Trading Account
Form fill up Demat & Trading Account

Fill up your personal details in the form above

Share Personal Details Demat & Trading Account

Fill up your DOB, PAN, email & bank account details

OTP Authentication Demat & Trading Account

Upload your photo and e-sign your application via Aadhaar OTP

How to open a Demat & Trading Account?

Frequently asked questions

  • An IPO also known as initial pulic offering or stock launch is a process when a private company sale its shares to public for the first time. Learn more about IPO at our knowledge centre.

  • A lot size is the minimum number of shares that an investor has to bid for. A lot size differs for each IPO and is fixed by the company.

  • IPO Price Band is the price range within which investors can bid for the shares. The minimum price is called the floor price and the maximum price is called the cap price.

  • Issue size is the total value of an IPO. It is calculated by multiplying the number of shares offered by the company by the issue price per share.

  • You will receive an email on your registered email id if the IPO shares are allotted to you. Alternatively, you can also visit the registrar of the company’s official website and provide the details as asked in the allotment status section of the website.

  • IPOs, as such, do not have any taxes. You are taxed only when you decide to sell the IPO shares. Any monetary profit you make while selling the IPO shares is referred to as ‘capital gains’.

    Capital gains tax is charged depending on how long you held the shares for. If you owned the shares for less than 12 months, it is considered as short-term capital gains and if it is over 12 months, it is referred as long-term capital gains.

    Tax on short-term capital gains is 15%. It is 10% for equity gains in the long run (over 12 months). Do remember that you are taxed if the equity proceeds exceed Rs 1 lakh.