WOL 3D IPO Opens For Subscription: Check GMP, Price Band, Offer Size And More

WOL 3D (India) Ltd. opened the subscription window for its initial public offering (IPO) on Monday. The WOL 3D IPO comprises a fresh issue of 14.52 lakh shares worth Rs 21.78 crore and an offer-for-sale component of 2.52 lakh shares aggregating Rs 3.78 crore.

Here's all you need to know about the SME issue of WOL 3D Limited.

WOL 3D IPO will be open between September 23 and September 25. The NSE SME issue looks to mop up Rs 25.56 crore through the initial share sale.

Allotment of shares in the IPO will be finalised on September 26. This will be followed by credit of shares into the demat account of successful bidders and initiation of refunds to non-allottees on September 27.

The shares will be listed on the NSE SME platform, Emerge, tentatively on September 30.

WOL 3D IPO price band has been fixed at Rs 142 to Rs 150 per share, with a face value of Rs 10 each. Retail investors have to buy at least 1,000 shares in a lot, totalling a minimum investment of Rs 1,50,000 at the upper end of the price band.

As per the company's red herring prospectus, of the 17,04,000 shares offered - 18.96% is reserved for QIB, 14.26% for NII, 33.22% for RII and 28.4% for Anchor investors.

The registrar for the WOL 3D IPO is BigShare Services Pvt. Ltd., while Hem Securities Ltd. is the book-running lead manager. Hem Finlease is the market maker of the issue.

The IPO has been subscribed 15.27 times as of 4:39 p.m. on Monday.

• Qualified institutions: 2.07 times

• Non-institutional buyers: 10.62 times

• Retail investors: 24.79 times

The subscription status will be updated at regular intervals.

The grey market premium (GMP) of WOL 3D IPO is Rs 65 as of 3:24 p.m. on September 23, implying a 43.33% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 215 per share.

GMP is not an official price quote for the stock and is based on speculation. 

WOL 3D (India) Ltd. provides 3D printing solutions to enable easier prototyping. Sectors such as manufacturing, education, engineering, architecture, interior designing, fashion designing and more use their services.

The company aims to bridge the gap between ideation and manufacturing by providing high-quality and cost-effective 3D Printing solutions with cutting-edge technology.

Wol 3D (India) has four branch offices– Delhi, Hyderabad, Bengaluru and Mumbai– and five franchisee offices located in Pune, Chennai, Coimbatore, Rajkot and Nagercoil. Their manufacturing unit is located in Bhiwandi, Maharashtra.

The company sells its products through Flipkart, Jiomart, Firstcry, Indiamart, Snapdeal, Moglix and Amazon Seller Services; and through retail chain outlets like Croma and Crosswords.

Use of Proceeds

Wol 3D (India) plans to use the proceeds from its IPO to repay, in part or full, certain outstanding debts. The funds will also be used to meet working capital needs and for general corporate purposes.

Financials

Wol 3D (India) Ltd. reported a revenue of Rs 40 crore for the year ended March 31, 2024, which was a 68.7% increase from Rs 23.71 crore in the year ended March 31, 2023. Profit after tax increased 109% to Rs 5 crore in FY24, up from Rs 2.4 crore in the previous financial year.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.