WTI Cabs IPO Date, GMP, Lot Size, Reservation, Review, How to apply?

The initial public offering (IPO) of WTI Cabs amounts to Rs 94.68 crores and consists solely of a fresh issue, comprising 64.41 lakh shares. Subscriptions for the WTI Cabs IPO commence on February 12, 2024, and conclude on February 14, 2024.

WTI Cabs IPO Date

WTI Cabs is a car rental company based in India. The company has recently announced the launch of its Initial Public Offering (IPO) at the National Stock Exchange (NSE) SME Exchange. The IPO opened on February 12, 2024.

IPO Date February 12, 2024 to February 14, 2024
Listing Date To be announced
Face Value ₹10 per share
Price Band ₹140 to ₹147 per share
Lot Size 1,000 Shares
Total Issue Size 6,441,000 shares (aggregating up to ₹94.68 Cr)
Fresh Issue 6,441,000 shares (aggregating up to ₹94.68 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Shareholding pre-issue 17,370,837
Shareholding post issue 23,811,837
Market Maker portion 438,000 shares (Share India Securities)

The total issue size for this IPO is Rs. 94.68 crores. The company has obtained a car rental license in Dubai and plans to expand its operations abroad.

WTI Cabs IPO GMP

The Grey Market Premium (GMP) for the WTI Cabs IPO is unavailable. GMP is an unofficial indicator of the expected premium at which the shares might trade in the grey market after the IPO closes. It’s important to remember that:

WTI Cabs IPO Date

  • GMP is not reliable: It’s an unofficial figure and shouldn‘t be the sole basis for investment decisions.
  • GMP can fluctuate: It can change daily based on investor sentiment and market conditions.
  • GMP doesn’t predict listing price: The actual listing price can be significantly different from the GMP.

WTI Cabs IPO Lot Size 

  • Minimum Lot Size: 1,000 shares
  • Bid in Multiples: You can only apply for additional shares in multiples of 1,000.
  • Investment Amounts:
Investor Type Minimum Lots Shares Minimum Investment
Retail Investor 1 1,000 ₹147,000
Retail Investor (Maximum) 10 10,000 ₹1,470,000
HNI Investor (Minimum) 2 2,000 ₹294,000

Note:

  • Investment amounts are based on the upper price band of ₹147 per share.
  • Actual investment amount will vary depending on the final issue price.

WTI Cabs IPO Reservations

Reservation Details:

  • WTI Cabs IPO follows the SEBI guidelines for share allocation in book-built issues.
  • Shares are reserved for different investor categories to ensure broader participation.

Categories & Allocations:

Investor Category Minimum Share Allocation
Qualified Institutional Buyers (QIBs) Not more than 50% of the net issue
Retail Individual Investors Not less than 35% of the net issue
Non-Institutional Investors (NII) – HNIs Not less than 15% of the net issue

WTI Cabs IPO Review

It’s currently too early to provide a comprehensive review of the WTI Cabs IPO as the offer documents are still under regulatory review by SEBI and important details like the final issue price and company financials are not yet finalized.

However, some general points to consider and resources to help you form your own informed opinion:

Positive aspects:

  • Growth potential: The cab aggregator market in India is still growing, particularly in smaller cities where WTI Cabs has focused its expansion.
  • Focus on electric vehicles: WTI Cabs’ incorporation of electric vehicles aligns with the growing demand for sustainable transportation.
  • International expansion plans: The company’s intended entry into Dubai indicates its ambition for international growth.

Potential concerns:

  • Financial performance: While showing revenue and profit growth, it’s crucial to analyze their long-term sustainability and profitability compared to established players.
  • Competition: WTI Cabs faces stiff competition from major players like Ola and Uber, both in India and Dubai.
  • Limited track record: As a relatively new company, WTI Cabs has a shorter track record compared to established competitors.

Further research:

  • DRHP Filing (once available): This document will provide detailed information about the company’s financials,growth plans, risk factors, and other critical aspects.
  • Investment Analyst Reports: Look for analyses from reputable financial institutions to gain insights from industry experts.
  • News Articles and Market Research: Stay updated on relevant news and market trends related to the cab aggregator industry and electric vehicle adoption.

How to apply for WTI Cabs IPO?

Here’s how you can apply for the WTI Cabs IPO:

Eligibility:

  • You must be an Indian resident with a valid PAN card and bank account.
  • You need a registered demat account linked to your trading account.

Application method:

Through your broker’s platform:

  • Most popular online brokers offer IPO applications.
  • Choose “WTI Cabs IPO” and select the desired number of shares (in multiples of 1,000).
  • Specify your bid price within the price band (₹140 – ₹147).
  • Use UPI or ASBA for payment (depending on your broker’s options).
  • Apply and approve the mandate via your UPI app or net banking.

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