BikeWo GreenTech IPO: What Is Latest GMP, Subscription Status On Day 2?

BikeWo GreenTech IPO opened for subscription on September 20, 2024. BikeWo GreenTech IPO is totally a fresh issue of 38.86 lakh shares worth Rs 24.08 crore. SME issue of BikeWo GreenTech IPO has been subscribed 1.28 times on Day 1. Today, it has been reportedly subscribed 6.02 times till 12 noon. The public issue was subscribed 10.96 times in the retail segment, 0.00 times in QIB, and 1.72 times in the NII segment by September 23, as per chittorgarh.com.

BikeWo GreenTech IPO Allotment Status: Its allotment is likely to finalized on September 25, 2024. Applicants will be getting shares in their demat accounts on Thursday, September 26. As per reports, BikeWo GreenTech will start refunds for non-allottees on the similar day. BikeWo GreenTech IPO's shares are expected to list on the NSE SME platform, Emerge, on September 27.

What BikeWo GreenTech IPO GMP Hints? The last GMP is Rs 20 as on September 23, 2024. With the price band of 62.00, BikeWo GreenTech SME IPO's likely listing price is Rs 82 (cap price along with today's GMP). The likely percentage gain/loss per share is reportedly 32.26%, as per chittorgarh.com.

The book running lead manage of BikeWo GreenTech IPO is Khandwala Securities Limited and Bigshare Services Pvt Ltd is the registrar for the issue. Meanwhile, the market maker of BikeWo GreenTech IPO is Aftertrade Broking.

Promoter Holding: BikeWo GreenTech's promoters are Katepalli Manideep, Satyapoorna Chander Yalamanchili, N Vidhya Sagar Reddy and Manvi Talwar.

Funds Utilisation: The company aims to use the funds that it will receive from the IPO to buy electric two-wheelers so that it can sell and supply them to its current and new dealers. BikeWo GreenTech will also be using the proceeds for funding the capital expenditures needed for establishing 11 dealership stories in various states of India. Another part of the proceeds will be utilised for settling outstanding borrowings. Meanwhile, remaining funds will be used for general corporate purposes.

BikeWo GreenTech IPO Allotment Date: The likely allotment date for the purpose of share allocation is September 25, 2024. The allotment status will become available after the basis of allotment has been finalised. After securing allotment, you will get the credit of equivalent shares in the Demat account.

Registrar & Listing Date: The official registrar of BikeWo GreenTech IPO is Bigshare Services Private Limited. It is expected to be listed on September 27, 2024.

About: It came into existence in 2006. BikeWo GreenTech is a leading electric two wheeler retailer. The company's brand is in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra and Gujarat. It operates its business activities via dealership models. BikeWo GreenTech provides 3 kinds of dealerships to their dealers namely state dealership, diamond dealership, and platinum dealership.