The Voler Car IPO is a Rs 27.00 crore book-built offering. The issuance is a brand-new 30.00 lakh share offering.
The subscription period for the Voler Car IPO auction began on February 12, 2025, and it will end on February 14, 2025. On Monday, February 17, 2025, the allocation for the Voler Car IPO is anticipated to be finalized. The proposed listing date for the Voler Car IPO is set for Wednesday, February 19, 2025, on the NSE SME.
The pricing range for the Voler Car IPO is ₹85 to ₹90 per share. An application must have a minimum lot size of 1600. Retail investors must invest a minimum of ₹1,36,000 in order to qualify. To avoid the oversubscription situation, however, it is advised that investors bid at the cutoff price, which is approximately ₹1,44,000.HNI requires a minimum lot size investment of two lots (3,200 shares), or ₹2,88,000.
The Voler Car IPO's book-running lead manager is GYR Capital Advisors Private Limited, and the issue's registrar is Kin Technologies Limited. Winanses Financial Services Private Limited is the market maker for the Voler Car initial public offering.
Incorporated in 2010, Volar Cars Limited provides reliable and efficient employee transportation services (ETS) to large multinational companies and enterprises.
Offers comprehensive home-to-office transportation with 24/7 customer service, dedicated team and more than 2,500 toll, company car, electric vehicle, Colorado and Tempo stores.
In FY 2023-24, the company made approximately 3,23,550 trips throughout the year, averaging more than 884 trips per day.
The company operates in Kolkata, Mumbai, Pune, Bihar, Delhi- religious places and religious places, providing transportation transportation with given society as per vendor-source and warehouse, guaranteeing timely pick-up and drop-off as per Service Level Firm (SLA).
The company's product is built with third-party technology to manage enterprise tours, Nautil, Smetric, event feedback and related SLA through the system.
The company provides employee transportation services (E-Tech) in Kolkata, Mumbai, Pune, Bihar, Delhi-Maharajas and pilgrims, providing reliable home-to-office transportation for the company to operate 24/7.
The company has 774 employees as of December 31, 2024.
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Competitive Strengths:
- enduring connections with customers
- A well-known brand that has been developed over time via operational excellence
- Asset-light business strategy
- Skilled Promoters backed by an execution and management team
- Scalable business plan and service quality guarantee
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 18.33 | 10.99 | 11.9 | 12.13 |
| Revenue | 21.58 | 31.45 | 26.63 | 24.83 |
| Profit After Tax | 2.49 | 3.56 | 1.99 | 0.79 |
| Net Worth | 10.93 | 3.21 | -0.35 | -2.34 |
| Reserves and Surplus | 2.78 | 3.06 | -0.5 | -2.49 |
| Total Borrowing | 0.39 | 1.19 | 3.8 | 5.55 |
Voler Car IPO Details
| IPO Date | February 12, 2025 to February 14, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹85 to ₹90 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 30,00,000 shares (aggregating up to ₹27.00 Cr) |
| Fresh Issue | 30,00,000 shares (aggregating up to ₹27.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 81,43,527 shares |
| Share Holding Post Issue | 1,11,43,527 shares |
| Market Maker Portion | 2,12,800 shares Wiinance Financial Services Private Limited |
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Voler Car IPO Timeline
| IPO Open Date | Wed, Feb 12, 2025 |
| IPO Close Date | Fri, Feb 14, 2025 |
| Tentative Allotment | Mon, Feb 17, 2025 |
| Initiation of Refunds | Tue, Feb 18, 2025 |
| Credit of Shares to Demat | Tue, Feb 18, 2025 |
| Tentative Listing Date | Wed, Feb 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 14, 202 |
Voler Car IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 8,33,600 (27.79%) |
| Market Maker Shares Offered | 2,12,800 (7.09%) |
| QIB Shares Offered | 5,56,800 (18.56%) |
| NII (HNI) Shares Offered | 4,19,200 (13.97%) |
| Retail Shares Offered | 9,77,600 (32.59%) |
| Total Shares Offered | 30,00,000 (100% |
Objects of the Issue
- Funding working capital requirements of the Company
- General Corporate Purposes.
- IPO Issue expense
Conclusion
In large cities, VCL offers ETS services for home-to-office-to-home transportation. Both its top and bottom lines showed increase over the periods under review. With a combination of owned, leased, and hired third-party cars, the business uses an asset-light business strategy. The issue looks to be aggressively priced based on the most recent financial performance. The business operates in a cutthroat and competitive market. It doesn't hurt to pass on this costly wager.