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As the financial landscape welcomes another significant Initial Public Offering (IPO), Wise Travel India Limited, popularly known as WTI Cabs, takes center stage. Scheduled to open for subscription from February 12 to February 14, 2024, this IPO promises investors a chance to be part of the dynamic transportation industry.
IPO Details: WTI Cabs is set to raise Rs 94.68 crores through a fresh issue of 6,441,000 shares at a price band of ₹140 to ₹147 per share. With a minimum lot size of 1000 shares, retail investors have an opportunity to invest a minimum of ₹147,000, while HNI investors can bid for 2 lots, amounting to ₹294,000. The IPO opens on February 12, 2024, and closes on February 14, 2024, with listing scheduled for February 19, 2024, on NSE SME.
Company Overview: Established in 2009, Wise Travel India Limited has positioned itself as a leading player in the transport sector, offering car rentals and transportation services across 130 cities in India. From executive cars to luxury cars, coaches, SUVs, and sedans, WTI provides a diverse fleet catering to various needs. The company’s clientele includes renowned names like Amazon, Microsoft, Coca-Cola, and many more.
Objectives of the Issue: WTI Cabs plans to utilize the funds raised to meet working capital requirements, general corporate purposes, and cover the issue expenses.
Financial Performance: As of September 30, 2023, WTI Cabs has demonstrated robust financial performance, witnessing a 178.67% increase in revenue and a 172.5% rise in profit after tax compared to the fiscal year ending March 31, 2022. The market capitalization stands at Rs 350.03 Cr, reflecting strong market confidence.
Key Performance Indicators: WTI Cabs boasts impressive Key Performance Indicators (KPIs), with a Return on Equity (ROE) of 29.79%, Return on Capital Employed (ROCE) at 22.90%, Debt/Equity ratio of 0.65, Return on Net Worth (RoNW) of 25.28%, and a Price-to-Book Value (P/BV) ratio of 6.28.
Post-IPO Projections: Following the IPO, the company anticipates a boost in Earnings per Share (EPS) from 5.91 to 9.52, resulting in a favorable Price-to-Earnings (P/E) ratio drop from 24.81 to 15.45.
As Wise Travel India Limited embarks on this exciting IPO journey, investors are presented with an opportunity to align themselves with a dynamic player in the transportation sector. With a proven track record, strong financials, and strategic objectives, WTI Cabs aims to drive growth and innovation in the evolving landscape of travel and mobility services. Stay tuned as we witness the unfolding chapters of WTI Cabs’ journey post-listing.
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