Voler Car Limited SME IPO Launch on February 12, 2025
Voler Car Limited is preparing for the launch of its SME initial public offering (IPO) on February 12, 2025, with the goal of raising Rs 27 crore (around $3.2 million). This offering includes a total of 30,00,000 shares, each having a face value of Rs 10, with a pricing range of Rs 85-90 per share.
Details of the SME IPO
The lot size for the IPO is set at 1,600 equity shares, meaning investors need to make a minimum investment of Rs 1,44,000. This SME IPO will follow the 100% book-building method, allocating 50% of the net issue for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for Non-Institutional Investors (NII).
Key Players Involved
GYR Capital Advisors Private Limited is serving as the Book Running Lead Manager for the Voler Car IPO, while KFin Technologies Limited acts as the issue registrar. The subscription period for this IPO will run from February 12, 2025, to February 14, 2025. Proceeds from the issue will be directed towards financing working capital needs, general corporate expenses, and costs associated with the IPO.
About Voler Car Limited
Established in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car focuses on employee transportation services catering to large multinational corporations (MNCs), IT, and ITeS sectors in major cities throughout India. According to their investor memorandum, the company operates an extensive fleet of over 2,500 vehicles, providing transportation for 425,000 trips each year across nine Indian cities.
Recent Financial Performance
In the first half of the current fiscal year (H1 FY25), Voler Car Limited reported an operating revenue of Rs 21.49 crore, resulting in a positive net profit of Rs 2.48 crore. In comparison, during the previous fiscal year (FY24), the company achieved a revenue of Rs 30.89 crore with a profit standing at Rs 3.56 crore.
Recent Trends in SME IPOs
Voler Car Limited follows the recent trend of SME IPO launches, as seen with startups like Solarium, which also unveiled its IPO. In the previous year, several companies, including Trust Fintech, TAC Security, and Menhood, successfully entered the market through the SME route.