BikeWo GreenTech Struggles on Debut, Shares Opening Below 27.4% of IPO Price on NSE SME - Details Here!BikeWo GreenTech Struggles on Debut, Shares Opening Below 27.4% of IPO Price on NSE SME - Details Here!

BikeWo GreenTech shares debuted weakly on the NSE SME, listing at ₹45 per share, 27.4% below the IPO price of ₹62. The stock’s listing fell short of market expectations, despite a grey market premium of ₹7 per share.

The BikeWo GreenTech IPO was subscribed 41.82 times overall. It saw 61.04 times subscription from retail investors, 43.03 times from Qualified Institutional Buyers (QIBs), and 22.48 times from Non-Institutional Investors (NIIs).

Founded in 2016 as a pre-owned car dealer, BikeWo GreenTech Limited expanded in 2022 to market and sell electric two-wheelers. The company is building a multi-brand EV dealership network in Tier-II and Tier-III cities, focusing on Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, and Gujarat, with plans for further expansion. They offer three dealership types for flexible partnerships.

The BikeWo GreenTech IPO aims to raise capital for expansion, debt repayment, and working capital. It may also focus on funding research and development and addressing general corporate needs, enhancing the company’s financial stability and operational capacity.