Voler Automobile IPO Itemizing: Decrease Circuit as quickly because the listing is listed, IPO buyers shocked on entry of ₹ 90 shares – INA NEWS

Voler Automobile IPO Itemizing: The shares of the Volar automotive offering transportation amenities to the company staff have been pale immediately on the NSE SME platform. After the flat itemizing, the inventory went barely up and got here to the decrease circuit. Its IPO obtained greater than 13 occasions the general total. Shares have been issued at a worth of Rs 90 beneath the IPO. Right now, it has entered NSE SEM at Rs 90.00, that’s, IPO buyers didn’t get any itemizing good points. Nonetheless, the enjoyment of IPO buyers pale shortly when the shares got here to the decrease circuit on the worth of Rs 92.90.

It broke down on the decrease circuit of Rs 85.50 (Voler Automobile Share Worth). Buying at a decrease stage led to restoration and reached ₹ 93.90. Nonetheless, then there was a strain of revenue reserving. In the long run of the day it has closed at Rs 89.35, that’s, on the finish of the primary buying and selling day, IPO buyers at the moment are 0.72 per cent losses.

How will Voler Automobile Ipo’s cash be spent

The ₹ 27.00 crore IPO of the Volar automotive was opened until 12-14 February for subscription. This IPO obtained good response from buyers and total it was subscribed to 13.62 occasions. It had a share reserved for certified institutional patrons (QIB) 9.34 occasions, non-institutional buyers (NII) share 18.56 occasions and retail buyers have been stuffed with 13.94 occasions. Beneath this IPO, 30 lakh new shares with face worth of Rs 10 have been issued. The corporate will use the cash raised via these shares to satisfy the wants of working capital, fill the difficulty associated bills and customary company functions.

About Voler Automobile

The Volar automotive made within the 12 months 2010 supplies staff transportation providers (ETS) to giant MNC and company purchasers. Its fleet consists of greater than 2500 vehicles, SUVs, EVs, buses and tempo vacationers. Its enterprise is unfold over Kolkata, Mumbai, Pune, Bhubaneswar, Delhi-NCR and Ahmedabad. Speaking in regards to the monetary well being of the corporate, it has been strongly strengthened. It made a internet revenue of Rs 79 lakh in FY 2022, which jumped within the subsequent monetary 12 months 2023 to Rs 1.99 crore and Rs 3.56 crore in FY 2024. Throughout this era, the corporate’s income elevated to Rs 31.45 crore from a compound fee (CAGR) of greater than 12 per cent yearly. Speaking in regards to the present monetary 12 months 2024-25, within the first half April-September 2024 it has obtained a internet revenue of Rs 2.49 crore and a income of Rs 21.58 crore.

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