The monsoon of SME IPOs does not seem to be slowing down as the shower of small and medium-scale enterprises and their foray onto Dalal Street is only intensifying. Here, we look at another SME IPO that is fastening its belt for the equity markets.
About The Company
BikeWo GreenTech is a Hyderabad-based entity. As the name may suggest, the company deals in sustainable modes of transport and is an electric two wheeler retailer. This entity currently has its presence in the Indian states of Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat.
The company's official website, as required by norms. |
What Is On Offer?
This SME has a book built issue of Rs 24.09 crores. The IPO has a face value of Rs 10 per individual share. The issue has a price band of Rs 59 to Rs 62 per individual share. The public offer has a lot size of 2000 shares. This IPO brings an entirely fresh issue amounting to 3,886,000 shares.
This fresh issue translates to Rs 24.09 crore. The latest GMP, or Grey Market Price, as of September 15 stands at Rs 0 (GMP details are subject to deviations). In addition, the minimum investment amount required by retail investors is Rs 1,24,000. Investors can bid for a minimum of 2000 shares.
Dates To Remember
The issue will be opened to investors for subscription on Wednesday, September 18. The process of the subscription will be available and will conclude the following trading week. The IPO will draw curtains on Friday, September 20. The tentative date for allotment is Monday, September 23.
The initiation of refunds would come to pass on Tuesday, September 24. The shares would then be credited to the Demat accounts of investors on Tuesday, September 24.
Finally, the tentative time for the listing of the IPO is estimated to be Wednesday, September 25. The entity will be listed on the NSE SME.
BikeWo GreenTech is a Hyderabad-based entity. As the name may suggest, the company deals in sustainable modes of transport and is an electric two wheeler retailer. |
Key Factors
The company is headed by Katepalli Manideep, N Vidhya Sagar Reddy, Manvi Talwar, and Satyapoorna Chander Yalamanchili. In the recently concluded fiscal year, the Hyderbad-based company's market capitalization stood at Rs 80.87 crore.
Objectives
In addition to the standard General Corporate Purposes, the company intends to use the resources generated to fund the procurement of electric two-wheelers for sale and supply to our new and existing dealers. Apart from that, another major objective is to set up eleven dealership stores in various states in India. The company also intends to repay its outstanding debt with the accrued resources.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
