Voler Car Limited is expected to launch its SME initial public offering (IPO) on February 12, 2025. This is being carried out with an aim to to raise Rs 27 crore which comes to about USD 3.2 million.

As per the press release, the IPO will comprise 30,00,000 shares and will come with a face value of Rs 10 each and will be priced in the range of Rs 85-90 per share. Furthermore, the lot size for the IPO is 1,600 equity shares, which will require a minimum investment of Rs 1,44,000 for investors who are looking to participate.

Also to note, this SME IPO will be processed through the 100% book-building method, wherein, the IPO will comprise 50% of the net issue for QIB, 15% of the net issue for the NII segment, and 35% for retail investors.

While KFin Technologies Limited is the registrar to the issue, the IPO will be open from February 12, 2025 to February 14, 2025GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO. Furthermore, the capital garnered will be used to fund working capital requirements, IPO-related costs, and general corporate expenses.

If we speak of the company, it was established by Pawan Parasrampuria and Vikas Parasrampuria back in 2010, wherein, it specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across notable Indian cities. Also, the company operates a fleet of over 2,500 vehicles, As per its investor memorandum and is said to complete 425,000 trips annually across nine cities in India.

Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore during the first six months of the ongoing fiscal year (H1 FY25).

However, with a profit of Rs. 3.56 crore during the previous fiscal year (FY24), they have recorded a revenue of Rs 30.89 crore. Also to note, solar startup Solarium has recently launched its SME IPO. and Trust Fintech, TAC Security, and Menhood also went public via the SME route, last year.