Voler Car IPO is set to raise ₹27 crore through a fresh issue of 30 lakh shares. The IPO subscription window will open on February 12, 2025, and close on February 14, 2025. The allotment is expected to be finalised on February 17, 2025, with a tentative listing date on February 19, 2025, on NSE SME.
The IPO price band is set between ₹85 and ₹90 per share. Retail investors must apply for a minimum of 1,600 shares, requiring an investment of ₹1,44,000. High Net-Worth Individuals (HNIs) need to invest in at least two lots, totaling 3,200 shares, which amounts to ₹2,88,000.
GYR Capital Advisors Private Limited is managing the IPO as the book-running lead manager, while Kfin Technologies Limited is the registrar for the issue. Wiinance Financial Services Private Limited will serve as the market maker.
Investors interested in the IPO should review the Red Herring Prospectus (RHP) for comprehensive details on the company's financials, business model, and growth prospects before making an investment decision.
Industry Outlook
- The Indian employee transportation services market, valued at ₹503.5 billion ($6.1 billion) in 2023, is expected to grow at a CAGR of 11.8%, reaching ₹1,097.6 billion by 2030. This growth is fueled by the expansion of IT and Global Capability Centers (GCCs), increasing corporate demand for employee commute solutions.
- By 2028, 57% of India's urban workforce is projected to be based in Tier 2 and 3 cities, opening new avenues for corporate mobility services. As businesses expand into smaller cities, demand for organised employee transportation will rise.
Voler Car IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The IPO proceeds will help Voler Car Limited manage day-to-day operations efficiently, ensuring smooth business growth and uninterrupted services.
- A portion of the proceeds will be allocated to cover expenses related to the IPO process, ensuring a successful public listing.
- The remaining funds will be used for general corporate purposes.
About Voler Car Limited
Voler Car Limited is a leading provider of employee transportation services (ETS) for IT/ITeS companies, large corporations, and multinational clients across major Indian cities. The company ensures seamless home-to-office-to-home transportation, supported by 24/7 customer service, dedicated location teams, and a fleet of verified vehicles operated by trained chauffeurs.
Operating on an asset-light model, Voler Car Limited manages a pooled fleet of over 2,500 vehicles, including sedans, SUVs, buses, tempo travellers, and electric vehicles. This approach maximises efficiency and revenue while maintaining high service standards. In FY 2023-24, the company completed approximately 3,23,550 trips, averaging over 884 daily trips. By November 30, 2024, the company had already completed 2,84,039 trips in FY 2024-25, with a daily average exceeding 1,183 trips.
With operations in cities like Kolkata, Mumbai, Pune, Bhubaneswar, Delhi-NCR, Ahmedabad, Lucknow, Jaipur, and Ludhiana, Voler Car Limited integrates GPS tracking for real-time monitoring and client SLA management. The company prioritises passenger safety, ensuring that women employees are not dropped off last without an escort.
Backed by an experienced board and management team, Voler Car Limited is well-positioned to capitalise on the growing demand for corporate mobility, including the rising need for eco-friendly transport solutions with electric and hybrid vehicles.
How To Check the Allotment Status of Voler Car IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Voler Car IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Voler Car IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Voler Car IPO
Registered office: 22 Burtolla Street, 4th Floor, Kolkata - 700007, West Bengal, India.
Phone: +91 9147359888
E-mail: compliance@volercars.com
Voler Car IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 50% of the Net Issue |
|
Retail Shares |
Not less than 35% of the Net Issue |
|
NII (HNI) Shares |
Not less than 15% of the Net Issue |
Voler Car IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1,600 |
₹1,44,000 |
|
Retail (Max) |
1 |
1,600 |
₹1,44,000 |
|
HNI (Min) |
2 |
3,200 |
₹2,88,000 |
Voler Car IPO Promoter Holding
The promoters of the company are Vikas Parasrampuria and Pawan Parasrampuria.
|
Share Holding Pre-Issue |
92.88% |
|
Share Holding Post Issue |
- |
Key Performance Indicators for Voler Car IPO
As of March 31, 2024, the market capitalisation of Voler Car's IPO is ₹100.29 crore. Here are the KPIs of Voler Car:
|
KPI |
Value |
|
RoE (%) |
249.01 |
|
RoCE (%) |
123.06 |
|
Price to Book Value |
22.17 |
|
PAT Margin |
11.53 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
4.38 |
4.46 |
|
P/E (x) |
20.57 |
20.17 |
Note: The Pre-IPO EPS is calculated using the pre-issue shareholding as per the RHP and the latest FY earnings as of March 31, 2024. The Post-Issue EPS is determined based on the post-issue shareholding and the annualised FY earnings as of September 30, 2024, as stated in the RHP.
Voler Car IPO Prospectus
Voler Car IPO Registrar and Lead Managers
Voler Car IPO Lead Managers
- GYR Capital Advisors Private Limited
Registrar for Voler Car IPO
Kfin Technologies Limited
- Contact Number:04067162222, 04079611000
- Email Address: volercar.ipo@kfintech.com
Voler CarIPO Registrar
Financial Performance of Voler Car Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 3,089.71 | 2,396.07 |
| Profit After Tax (PAT) (in ₹ lakh) | 356.29 | 199.23 |
| EPS (Earnings per Share in ₹) | 4.71 | 2.63 |
| Total Borrowings (in ₹ lakh) | 118.85 | 379.89 |
| Current Ratio (x) | 1.14 | 0.76 |
| Return on equity (%) | 249.01 | (147.93) |
| Return on capital employed (%) | 123.06 | 88.30 |
| EBITDA (in ₹ lakh) | 607.36 | 359.43 |
Know before investing
Strengths
5Strong client relationships with IT, BPO, and MNC sectors ensure steady growth.
Presence in 9 major cities with plans to expand further.
The asset-light model boosts profitability by minimising fixed costs and maximising efficiency.
Experienced leadership with over 13 years of industry expertise drives growth.
A scalable business model supports steady expansion while maintaining high service standards.
Risks
5Top 10 customers contribute 99.73% of revenue; losing them will impact growth.
Dependence on vendors for vehicles and chauffeurs may affect operations.
Strong competition may reduce market share and affect profitability.
Ongoing legal proceedings may impact business, reputation, and financial health.
Past loan defaults highlight financial risks despite current clear records.
Voler Car Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|
| Voler Car Limited | 5.51 | 4.25 | 135.7 | 22.5 |
| Wise Travel India Limited | 12.79 | 62.45 | 15.62 | 2.9 |
| Shree Osfm E-mobility Limited | 7.02 | 14.33 | 15.24 | 8.36 |
