Forward of their itemizing, the shares of the corporate are buying and selling with a gray market premium (GMP) of Rs 4-5 or 5% within the unlisted market.
Thus, the GMP signifies a good demand among the many market individuals because the premium within the gray markets are solely marginally larger from the higher band of the IPO worth.
Voler Automotive IPO was priced within the vary of Rs 85-90 apiece, the place traders needed to make a bid for a minimum of 1,600 shares in a single lot and in multiples thereafter.
Nonetheless, you will need to acknowledge that the GMP is merely an indicator of how an organization’s shares are performing within the unlisted market and might fluctuate quickly.
GMP serves as a gauge of investor demand, with the next premium indicating sturdy curiosity within the IPO, whereas a decrease or adverse premium displays weaker demand.The IPO of Voler Automotive witnessed a wholesome response from the traders with the general subscription standing at 13.73 instances on the finish of the bidding course of.Voler Automotive is primarily engaged in offering worker transportation providers (ETS) to IT/ITeS corporations, massive corporates, and MNCs throughout main cities in India. Its ETS options supply complete home-to-office-to-home transportation, supported by 24/7 customer support, devoted location groups, and a fleet of verified automobiles and educated chauffeur-drivers.
The corporate manages a pooled fleet of over 2,500 automobiles, together with small automobiles, sedans, SUVs, electrical automobiles, buses, and tempo travellers.
Within the fiscal 12 months 2023-24, Voler Automotive accomplished 3,23,550 journeys, averaging greater than 884 journeys per day. Working on an asset-light mannequin, the corporate sources the vast majority of its automobiles from distributors quite than proudly owning them, enabling it to optimize seat utilization and improve worker mobility whereas maximizing income.
For the interval ended September 2024, Voler Automotive reported revenues of Rs 21 crore and a revenue after tax of Rs 2.48 crore.
(Disclaimer: Suggestions, options, views and opinions given by the consultants are their very own. These don’t signify the views of The Financial Instances)
