| The initial public offer (IPO) of WOL 3D India received bids for 42,33,38,000 shares as against 17,04,000 shares on offer. The issue was subscribed 248.43 times.
Retail investors bid for 20,85,86,000 shares, non-institutional investors bid for 18,20,53,000 shares and qualified institutional investors bid for 3,26,99,000 shares.
The issue opened for bidding on 23 September 2024 and it closed on 25 September 2024. The price band of the IPO was set at Rs 142 to Rs 150 per share. The equity shares will list on NSE's SME platform.
The issue size comprised fresh issue of 14,52,000 and offer for sale (OFS) of 2,52,000 shares by existing promoters, Rahul Virendra Chandalia, Saloni Rahul Chandalia, Pradeep Shripal Jain and Swati Pradeep Jain. The promoter and promoter group shareholding diluted to 65.48% from 89.53% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirement, repayment in full or in part, of certain of our outstanding borrowings and general corporate purpose.
Ahead of the WOL 3D India on 20 September 2024, raised Rs 7.26 crore from anchor investors. The board allotted 4.84 lakh shares at Rs 150 per share to 7 anchor investors.
WOL 3D India is a provider of 3D printing solutions for various industries, including manufacturing, education, and design. The company offers a range of products, such as 3D printers, scanners, and filaments. The company distributes products from international brands like Flashforge, Creality, Bambu lab, Phrozen and Elegoo. The company sells its products through e-commerce platforms and retail chains outlets. As of 31 August 2024, WOL 3D India had 77 employees.
The company recorded revenue from operations of Rs 39.58 crore and net profit of Rs 5.03 crore for the period as of 31 March 2024.
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