WTI Cabs files DRHP for launching NSE SME IPO. Details here about upcoming IPO

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WTI Cabs IPO: The Wise Travel India Limited or WTI Cabs has filed Draft Red Herring Prospectus (DRHP) to launch its initial public offering (IPO). The company aims to raise around ₹85 crore from its initial offer. However, the company is yet to get market regulator Securities and Exchange Board of India (SEBI) for launching the public offer.

Sharing its plans in regard to upcoming IPO, the company management said, "We are planning to hit primary market with WTI Cabs IPO in January 2023. The public issue is proposed for listing on NSE SME platform and the company aims to raise ₹75 crore to ₹85 crore from this public issue." Also Read: India Shelter IPO allotment declared: Latest GMP, how to check status online The company management has mentioned in the DRHP that face value of the company shares would be ₹10 per equity share. "The Equity Shares issued through Draft Red Herring Prospectus are proposed to be listed on the EMERGE Platform of National Stock Exchange of India Limited (NSE EMERGE) in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time.

For this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited (“NSE")," the DRHP further informs. Also Read: Motisons IPO day 2 LIVE: Issue booked 30.74 times so far; check live status Promoters of the company are Ashok Vashishth, Hema Bisht and Vivek Laroia. WTI Cabs, a leading provider of premium cab services, is experiencing substantial growth while providing self-employment opportunities for drivers.