Naturewings Holidays IPO Closes With More Than 380 Times Subscription

The IPO of Naturewings Holidays Ltd. concluded its subscription today. The SME issue was subscribed more than 380 times on Thursday, led by demand from retail investors.

Earlier, the issue was subscribed 37.76 times on Tuesday (Day 1) and 96.32 times on Wednesday (Day 2).

The IPO was subscribed 383.48 times at 06:19 p.m. on Thursday.

• Non-institutional investors: 270.65 times

• Retail investors: 487.17 times

The company was offering 9.5 lakh new shares at a fixed price of Rs 74 per share, amounting to a total issue size of Rs 7.03 crores.

Retail investors could apply for a minimum of 1600 shares, which translates to an investment of Rs 118,400. High Net-Worth Individuals were required to apply for a minimum of 3200 shares, amounting to Rs 236,800. As per the company's red herring prospectus, of the 9,50,400 shares offered - 47.47% were reserved for non-institutional investors, 47.7% for retail investors and 5.05% for market makers. Fedex Securities Pvt Ltd was the book-running lead manager of the Naturewings Holidays IPO, while Bigshare Services Pvt Ltd is the IPO registrar. The market maker for Naturewings Holidays IPO was Pure Broking.

The allotment of Naturewings Holidays shares will be finalised on September 6. The shares will be listed on the BSE SME platform, with the tentative listing date of September 10.

• IPO Open Date: Tuesday, September 3

• IPO Close Date: Friday, September 5

• Price: Rs 74 per share

• Lot Size: 1600 shares

• Issue Size: Rs 7.03 crore

• Listing at: BSE SME

Naturewings Holidays Limited is a Tour and Travel company with corporate headquarters in Kolkata and is a Destination Management Company (DMC) in different Himalayan destinations like Bhutan, Sikkim, Ladakh, Kashmir, Silk Route, North East, and Nepal. An ISO 9001:2015 certified company, it provides comprehensive travel solutions, including land and air bookings, hotel reservations, in-transit arrangements, local sightseeing, and destination management services. It caters to individuals and groups visiting Himalayan destinations and has recently launched an international division to extend its services to global destinations. As of March 31, 2024, Naturewings Holidays has access to over 750 hotels in the Himalayan Ranges and various international destinations.

The company proposes to utilise the Net Proceeds from the issue towards meeting working capital requirements, marketing and business promotions and general corporate purposes.

For the fiscal year ending March 31, 2024, the company reported an 86% increase in revenue compared to the previous year. Additionally, its profit after tax surged by 72%, highlighting significant growth and profitability. Click on the PDF link below to view the detailed financial report of Naturewings Holidays for last three financial years.

Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in Naturewings Holidays limited.