Wise Travel India Limited IPO

Wise Travel India Limited IPO

Wise Travel India Limited’s IPO consists of a fresh issue of 64,41,000 shares aggregating to INR 94.68 crores. The company seeks funds for working capital and general purposes.

WTi Cabs IPO – Important Details

Wise Travel India Limited IPO DateFebruary 12, 2024 to February 14, 2024
Wise Travel India Limited IPO Listing DateFebruary 19, 2024
Wise Travel India Limited IPO PriceINR 140-147 per share
Wise Travel India Limited IPO Lot Size1000 shares
Wise Travel India Limited IPO Total Issue SizeApprox INR  9,468 lakhs
Wise Travel India Limited IPO Basis of AllotmentFebruary 15, 2024
Wise Travel India Limited IPO Initiation of RefundsFebruary 16, 2024
Wise Travel India Limited IPO Credit of Shares to DematFebruary 16, 2024
Wise Travel India Limited IPO Issue TypeBook Built Issue IPO
Wise Travel India Limited IPO Listing AtNSE SME

Wise Travel India Ltd IPO – Company Profile

In 2009, Wise Travel India Limited (W.T.I.) commenced operations as a transportation service provider, aiming to revolutionize urban mobility and transform daily commutes. The company strives to redefine the landscape of transportation services through its innovative approach.

Wise Travel India Limited provides diverse car rental services, including chauffeur-driven cabs for corporates, employee transportation, airport counters, fleet management, sustainable mobility, and international expansion, with WTI RENT A CAR L.L.C. in Dubai, extending its global presence.

They transformed urban mobility, orchestrating transport for the 2010 Commonwealth Games. Expanding nationwide, adopting electric vehicles, and gaining global recognition, it introduced airport counters and initiated a Management Trainee Program.

Wise Travel India Limited IPO – Fundamental Analysis

Wise Travel India Ltd’s financials reveal a company experiencing explosive revenue growth, significant profitability gains, and asset expansion ahead of its IPO, indicating strong operational performance and market demand, albeit with an increase in liabilities, presenting an attractive yet cautious investment opportunity.

Revenue Growth:

The company’s revenue saw an extraordinary increase from ₹4,226.80 million in 2021 to ₹24,959.87 million in 2023. This exponential growth indicates a significant expansion in its business operations and market demand for its services.

Equity Growth:

Equity has grown steadily from ₹2,456.48 million in 2021 to ₹4,062.21 million in 2023, reflecting investor confidence and possibly effective capital management strategies to support growth initiatives.

Expenses and Profitability:

Expenses have increased in line with revenue, suggesting the company’s growth is being managed efficiently. The profit after tax has also seen a notable rise from ₹177.59 million in 2021 to ₹1,026.87 million in 2023, demonstrating the company’s ability to scale profitably.

Return on Net Worth (RoNW):

The RoNW has significantly improved from 7.23% in 2021 to 25.28% in 2023, indicating the company’s increasing efficiency in generating profit from its shareholders’ equity.

Diluted EPS:

The Diluted EPS has shown a substantial increase from ₹1.09 in 2021 to ₹5.91 in 2023, showcasing the company’s growing profitability on a per-share basis.

Total Assets and Liabilities:

Total assets have more than doubled, indicating expansion and investment in growth. However, liabilities have also increased substantially, which could signal an aggressive growth strategy financed by borrowing or other liabilities.

NAV:

The Net Asset Value (NAV) per share has increased from ₹15.14 in 2021 to ₹23.39 in 2023, suggesting an enhancement in the intrinsic value of the company’s shares.

Wise Travel India Ltd IPO Financial Information

ParticularAs at 31 March 2021As at 31 March 2022As at 31 March 2023
Revenue (₹ in million)4,226.808,862.4124,959.87
Equity (₹ in million)2,456.482,831.834,062.21
Expenses (₹ in million)4,181.268,479.3723,614.53
Profit and Loss After Tax (₹ in million)177.59375.331,026.87
RoNW (%)7.2313.2525.28
Diluted EPS only (₹)1.092.315.91
Total Assets (in million)5,273.826,002.8612,163.29
Total Liabilities (in million)2,817.343,171.038,101.08
NAV (in million)15.1417.4523.39

WTi Cabs IPO Peer Comparison

Wise Travel India Limited stands out with a high RoNW of 25.28% and an EPS of ₹5.91, indicating strong profitability. In comparison, Shree OSFM E-Mobility and Mahindra Logistics show lower RoNW and varying EPS, highlighting Wise Travel’s superior financial performance.

CompanyFace Value per Equity Share (₹)P/EEPS (Basic) (₹)RoNW (%)NAV per Equity Share (Basic) (₹)
Wise Travel India Limited10NA5.9125.2823.39
Shree OSFM E-Mobility Limited1022.112.9415.1119.48
Mahindra Logistics Limited1044.518.979.8487.24

Wise Travel India IPO Objective

The main objective of Wise Travel India is to meet its working capital requirements. 

  1. To Meet Working Capital Requirement: The company intends to utilize INR 73 crores from the net proceeds to primarily enhance working capital, fostering the expansion of business activities and meeting dynamic needs. 
  1. General Corporate Purposes: The company intends to deploy the balance funds towards the general corporate goals, including utilizing funds for operating expenses, project development, business development, marketing, and meeting unforeseen exigencies.

Wise Travel India IPO Risks And Challenges

Wise Travel India’s risks include Legal disputes, lockdown disruptions, and trademark challenges that pose financial risks. Vigilance is vital to navigating uncertainties and safeguarding the business from potential economic impacts and operational disruptions. 

  • We are engaged in legal proceedings across various adjudication levels, including civil, criminal, and labor disputes. Adverse rulings or penalties may necessitate payments, adversely impacting expenses, current and contingent liabilities, and reputation. 
  • PT WTI. Trading & Mining Ventures (Indonesia), established in 2020, faced business disruptions due to lockdowns. Despite no compulsory annual audit, future reporting delays may impact operations and financial position, potentially leading to regulatory penalties. 
  • Trademark applications submitted under the Trade Marks Act. Until registration, potential unauthorized use by third parties exists. Challenges or registration delays may impact business and operation results. 

Wise Travel India IPO – Industry & Market Potential

The global rise in internet usage significantly benefits mobility services and vehicle rentals. Key factors driving growth include easy booking, pre-estimated fees, and quick payments. The transportation industry’s dependency on the Internet underscores its continued expansion. 

India’s road transport has evolved, with the online cab services market anticipating a 12.93% CAGR and reaching INR 55.15 Bn by FY 2025. Challenges driven by smartphone adoption, e-commerce demand, and government support include interventions, GST imposition, and demand-supply gaps.

Valued at USD 61.28 billion in 2021, the Tourism Vehicle Rental Market is projected to reach USD 97.23 billion by 2027 with an 8% CAGR. Post-COVID-19, it rebounds with substantial growth in Asia-Pacific and North America. 

WTi Cabs IPO – Type of Offer 

Wise Travel India will have a fresh issue of 64,41,000 shares aggregating to INR 94.68 crores. The company seeks funds for working capital and general purposes. 

Wise Travel India Limited IPO Offer Size

Wise Travel India’s offer size is 94.68 crores. The company seeks funds for working capital and general purposes. 

Wise Travel India IPO Allotment Structure

Wise Travel India Limited’s IPO allotment structure includes a category for Qualified Institutional Buyers, Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 4,38,000 shares for Market Makers. A portion of the issue is also set aside for the eligible employees. 

  • Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies
  • Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
  • Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs .
  • Market Maker Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 4,38,000 shares for this purpose.
  • Eligible Employees: A portion of the issue is reserved for eligible employees.

How to apply for a Wise Travel India IPO through Alice Blue?

To apply for the Wise Travel India IPO through Alice Blue, you would typically follow these steps:

  1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
  2. Check for IPO Details: Once your account is active, you can check for the Wise Travel India IPO details in the IPO section of the Alice Blue platform.
  3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
  4. Submit the Application: Confirm all your details and submit your application.

You can apply for Wise Travel India IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How to Check Wise Travel India IPO Allotment Status on Alice Blue?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

  1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
  2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
  3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
  4. Select the Wise Travel India IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Wise Travel India IPO.
  5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.

Apart from Alice Blue, there are other ways to check the allotment status of the Wise Travel India IPO:

Registrar’s Website: Visit the website of Beetal Financial & Computer Services (P) Limited, the registrar of the Wise Travel India IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.

NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (BSE) SME (Small Medium Enterprise) Platform. You would need your application number and PAN to check the status.

Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.

Wise Travel India IPO Offer Registrar

The registrar for the Wise Travel India IPO is Beetal Financial & Computer Services (P) Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar:

Beetal Financial & Computer Services (P) Limited

3rd Floor, Beetal House, 99, behind Local Shopping Centre, Madangir Village, Madangir, New Delhi, Delhi 110062

Tel. No.: 011-2996 128 011-29961281-83/26051061/260510641

Email: [email protected] / [email protected]

Website: www.beetalfinancial.com

Wise Travel India IPO FAQs

1. What is the allotment date of the Wise Travel India IPO? 

The allotment date of Wise Travel India’s IPO is February 15, 2024.

2. What is the price band of the Wise Travel India IPO? 

The company Wise Travel India’s IPO is going to issue shares at INR 140-147 per share.

3. What is the size of the Wise Travel India IPO? 

Wise Travel India Limited’s IPO consists of a fresh issue of 64,41,000 lakh shares. The company seeks funds for working capital and general purposes. 

4. What is the listing date of the Wise Travel India IPO? 

The listing date of Wise Travel India’s IPO is February 19, 2024. 

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