Wise Travel India Limited IPO Closed

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IPO date 12 Feb 2024 – 14 Feb 2024
Listing date 19 Feb 2024
Price range 140 – 147
Minimum order quantity 1000
(D)RHP View

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Wise Travel India Limited is launching its IPO. The IPO opens for subscription on February 12, 2024, and will close on 14th February 2024. The IPO comprises a fresh issue of 6,441,000 shares aggregating up to ₹94.68 Cr.

Disclaimer: This stock will trade with a lot size of 1000 shares in the SME segment on the listing.

What does Wise Travel India Limited do?

In 2009, WTI was established to revolutionise how people move around in cities throughout India. The company quickly proved its expertise in handling large-scale transportation services by taking on the massive task of managing all personal ground transportation for the XIX Commonwealth Games in New Delhi in 2010.

By 2012, WTI had expanded its reach to seven of India’s biggest cities. This growth was boosted when the company took over India Fleet, a branch of Tranzlease India Pvt. Ltd. Between 2013 and 2014, WTI continued to expand its services and increased its fleet to more than 2500 cars. The company also made strategic moves by acquiring Wyncabs and Smart Ride, which allowed it to serve a wider range of customers.

Between 2015 and 2017, WTI’s efforts were recognised on an international level. The company received accolades in Dubai, being named the World’s Greatest Leaders 2015 in the Ground Transport Category for Asia & GCC, and then again at the World’s Greatest Leader event in Singapore in 2017.

From 2018 to 2020, WTI embraced the global shift towards sustainable transportation by integrating electric vehicles into its fleet. In 2021, seeing the growing need for high-quality transportation solutions in smaller cities, WTI expanded its services to tier 2, 3, and 4 cities, aiming to bring premium mobility services to these areas. This expansion was a setup to take its successful model to the international stage.

By 2023, WTI achieved a significant milestone by starting its operations in Dubai, marking its first venture outside India. That same year, the company also established 12 airport counters to make travel more convenient for its customers. Additionally, WTI also launched a Management Trainee Program. This program aims to nurture the next generation of leaders in the field, ensuring that the company’s values and mission continue to thrive in the years to come.

Schedule/Timeline of Wise Travel India Limited IPO

Issue Period 12th February to 14th February 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment February 15, 2024
Initiation of Refunds February 16, 2024
Credit of Shares February 16, 2024
Date of Listing February 19, 2024
Mandate end date February 29, 2024
Anchor Investors Lock-In End Date (50% of the investment) March 17, 2024
Anchor Investors Lock-In End Date (Remaining investment) May 17, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

How to apply to the Wise Travel India Limited IPO?

You can apply for the Wise Travel India Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

How to check the allotment status for the Wise Travel India Limited IPO?

You can check the allotment status for the Wise Travel India Limited IPO on the website of the Registrar and Transfer agent.