BikeWo Green Tech IPO : The BikeWo Green Tech IPO subscription began on Friday, September 20, 2024, and officially closed on September 24, 2024. This SME IPO aims to raise around ₹24.09 crores, with a retail quota of 35%, Qualified Institutional Buyers (QIB) accounting for 50%, and Non-Institutional Investors (NII) making up 15%. The price band for the IPO has been set between ₹59 to ₹62 per equity share.
Key Details of BikeWo Green Tech IPO:
- IPO Size: ₹24.09 crores
- Price Band: ₹59-₹62 per share
- Market Lot: 2000 shares (minimum application amount of ₹124,000)
- Listing Platform: NSE (National Stock Exchange)
BikeWo Green Tech is recognized as one of India’s leading two-wheeler retailers. The company commenced operations in 2016, and its revenue from the pre-owned vehicle business has shown steady growth since its inception.
Business Overview
BikeWo Green Tech has established itself as a prominent player in the used vehicle market. Initially engaged in the purchase and sale of used four-wheelers, the company partners with authorized dealers of well-known automobile brands. BikeWo serves as an intermediary, connecting car buyers with New Car Dealers. The company’s role includes acquiring used cars from authorized dealers and facilitating sales to prospective customers.
BikeWo Green Tech’s business model focuses on building a dealership network in Tier-II and Tier-III cities across India. Their services include managing all aspects of the car-buying process, from understanding customer requirements and pricing to vehicle certification, booking, financing, and even doorstep delivery. This comprehensive model allows the company to serve as an effective bridge between New Car Dealers and customers looking for pre-owned vehicles, earning a margin on each sale.
IPO Subscription Status – Day 3 Breakdown:
On the third day of the IPO subscription, the response across different investor categories showed significant interest:
- QIB (Qualified Institutional Buyers): 43.03x subscription
- NII (Non-Institutional Investors): 22.48x subscription
- RII (Retail Individual Investors): 61.04x subscription
- Total Subscription: 41.82x
The subscription numbers for Day 3 highlight strong investor interest, especially in the retail and QIB segments. BikeWo Green Tech’s IPO received positive momentum throughout the subscription period, reflecting confidence in its business model and growth potential.
Categories of Investors:
- Qualified Institutional Buyers (QIB): This category includes financial institutions, banks, foreign institutional investors (FIIs), and mutual funds.
- Non-Institutional Investors (NII): These are individual investors, companies, trusts, and NRIs.
- Retail Individual Investors (RII): This group comprises small retail investors, including NRIs.
- Eligible Employees (EMP): Employees of BikeWo Green Tech who qualify to participate in the IPO.
- Eligible Shareholders: Current shareholders eligible to invest in the IPO.
Investment Recommendation
Investors are encouraged to consider applying to the BikeWo Green Tech IPO with a long-term view. It’s advisable to assess the QIB, NII, and RII subscription data before making an investment decision. Given the high subscription rates, particularly in the retail and institutional categories, there is strong demand for BikeWo Green Tech shares.
How to Apply for BikeWo Green Tech IPO:
You can apply for the BikeWo Green Tech IPO using two primary methods:
- ASBA (Application Supported by Blocked Amount): Investors can apply directly through their bank account. Simply log in to your online banking portal, navigate to the “Invest” section, and select BikeWo Green Tech IPO to place your bid.
- Non-ASBA: Alternatively, investors can download the IPO application form, fill it out, and submit it either to their bank or broker.
Applying Through Online Platforms:
You can easily apply for the IPO through popular stockbrokers like Zerodha, Upstox, and Paytm Money. Here’s how:
- Zerodha:
- Log in to Zerodha Console.
- Go to the Portfolio section and click on “IPO.”
- Select “BikeWo Green Tech IPO” and click the bid button.
- Enter your UPI ID, quantity, and price, then submit the form.
- Approve the mandate in your UPI app to confirm your application.
- Upstox:
- Log in to the Upstox app and select the “IPO” section.
- Choose “BikeWo Green Tech IPO” and confirm your bid.
- Approve the UPI mandate via your UPI app to complete the application.
- Paytm Money:
- Log in to Paytm Money and head to the “IPO” section.
- Select “BikeWo Green Tech IPO” and confirm your bid.
- Approve the mandate through your UPI app to finalize your application.
Checking Live Subscription Status:
To check the live subscription numbers for the BikeWo Green Tech IPO, investors can visit official stock exchange websites or IPO-specific portals. These platforms provide hourly updates on subscription figures across different investor categories.
BikeWo Green Tech’s ₹40,000 crore IPO has generated significant interest, particularly among retail and institutional investors. The company’s strong business model, focusing on used vehicle sales and dealership expansion in Tier-II and Tier-III cities, positions it as a key player in India’s automotive market. Investors looking for long-term growth prospects may find this IPO an attractive opportunity.
By applying through ASBA or non-ASBA methods, investors can secure their participation in the IPO. With a successful subscription phase and growing market demand, BikeWo Green Tech is poised for a promising future in the electric two-wheeler retail and pre-owned vehicle sector.