WOL 3D India IPO Opens for Subscription: Check all details here
The initial public offering (IPO) for WOL 3D India, a provider of 3D printing solutions, opened on Monday, September 23, and will close on Wednesday, September 25. The company aims to raise Rs. 25.56 crore through this offering, which includes a fresh issue of 14.52 lakh shares and an offer for sale (OFS) of 2.52 lakh shares.
Strong Initial Response
The IPO was fully subscribed within just one hour of its launch, with robust interest from both retail and non-institutional investors. By noon on the first day, the overall subscription reached 4.57 times, with the retail portion subscribed 8.20 times and the non-institutional segment subscribed 2.21 times.
Grey Market Premium
As of 11 AM on Monday, the grey market premium (GMP) for WOL 3D India was around Rs. 65. With an upper price band of Rs. 150, this suggests the stock could list at approximately Rs. 215, reflecting a potential premium of 43.33%.
Key Details of the IPO
- GMP: Rs. 65 indicates strong demand.
- Subscription Dates: Opened on September 23 and closes on September 25.
- Price Band: Set between Rs. 142 and Rs. 150 per equity share.
- Funds Usage: The company plans to use Rs. 21.78 crore from the fresh issue for debt repayment, working capital, and general corporate purposes.
- Lot Size: Investors can bid in lots, with one lot consisting of 1,000 shares.
- Share Allocation: The IPO reserves 3,23,000 shares for qualified institutional buyers, 2,43,000 for non-institutional buyers, and 5,66,000 for retail investors.
Allotment and Listing Dates
- Allotment Date: Expected on September 26.
- Demat Accounts: Successful bidders will see shares in their accounts by September 27.
- Refunds: Those not allocated shares will receive refunds on the same day.
- Listing Date: The company plans to list on the NSE SME on September 30.
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Company Performance
WOL 3D India has shown significant growth in profit after tax (PAT) over the past two years, with figures of Rs. 84.42 lakh for FY22, Rs. 2.41 crore for FY23, and a projected Rs. 5 crore for FY24.
Management
Hem Securities Limited is the book-running lead manager for the IPO, while Bigshare Services Private Limited serves as the registrar.
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