BikeWo GreenTech IPO Listing: BikeWo GreenTech shares made a weak debut on the stock market on Friday for its initial public offering (IPO). BikeWo GreenTech shares are listed on NSE SME at ₹ 45 per share, down 27.4% from the price band of ₹ 62 per share.

Bikewo Greentech's IPO listing was below market expectations and the company's equity shares also showed a sluggish trend in the non-listing market. Bikewo Greentech IPO GMP today, or grey market premium today, was ₹ 7 per share before the stock listing, indicating a listing premium of over 11% over the IPO price.

Bikevo Greentech IPO Details

Bikewo Greentech IPO was an SME IPO that opened for subscription on Friday, September 20, and closed on Tuesday, September 24. The IPO allotment was finalized on September 25 and the Bikewo Greentech IPO listing date is today, September 27. Bikewo Greentech shares are listed on NSE SME.

The price band of the Bikevo Greentech IPO was fixed at ₹ 59 to ₹ 62 per share. At the upper end of the price band, the company raised ₹ 24.09 crore from a book-built issue, which was an entirely fresh issue of 38.86 lakh equity shares.

Bikevo Greentech IPO was subscribed a total of 41.82 times. This public issue got a subscription of 61.04 times in the retail category, 43.03 times in the qualified institutional buyers (QIB) category, and 22.48 times in the non-institutional investors (NII) category.

What does Bikevo Green Tech do?

Bikevo Green Tech Limited is an electric two-wheeler retailer in India. The company proposes to use the net issue proceeds for the purchase of electric two-wheeler vehicles for sale and supply, funding proposed capital expenditure for setting up eleven dealership stores across various states in India, prepayment or repayment of all or part of certain outstanding borrowings, and for general corporate purposes.

Who is the Book Running Lead Manager?

Khandwala Securities is the book-running lead manager for the Bikevo Greentech IPO, while Bigshare Services Private Limited is the IPO registrar.