NSE SME Voler Car skids on listing day

Shares of Voler Car were trading at Rs 89 on the NSE, a discount of 1.11% compared with the issue price of Rs 90.

The scrip was listed at 90, matching the initial public offer (IPO) price. The stock was currently down 1.11% over its listing price.

The counter hit a high of Rs 92.90 and a low of Rs 85.50. About 11.86 lakh shares of the company changed hands at the counter.

Voler Car's IPO was subscribed 12.38 times. The issue opened for bidding on 12 February 2025, and it closed on 14 February 2025. The price band of the IPO was set at Rs 85 to Rs 90 per share.

The IPO comprised a fresh issue of 21,66,400 shares. The company intends to utilize the net proceeds for funding the working capital requirements of the company and for general corporate expenses.

Ahead of the IPO, Voler Car on 11 February 2025, raised Rs 7.50 crore from anchor investors. The board allotted 8.33 lakh shares at Rs 90 per share to 6 anchor investors.

Voler Car provides employee transportation services (ETS) to IT/ITeS companies, large corporates, and multinational clients. The company offers a comprehensive home-to-office transportation solution with 24/7 customer service, dedicated teams, and a fleet of over 2,500 vehicles, including cars, SUVs, electric vehicles, buses, and tempo travelers. Voler Car operates in major cities such as Kolkata, Mumbai, Pune, Bhubaneswar, Delhi-NCR, and Ahmedabad. It provides corporate transportation services with vendor-sourced and leased vehicles, ensuring timely pick-ups and drop-offs as per service level agreements (SLAs). As of 31 December 2024, the company had 74 employees.

The company recorded revenue from operations of Rs 21.49 crore and net profit of Rs 2.48 crore for the period as on 30 September 2024.

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