WomanCart Limited IPO Opens on October 16: Price Band and GMP Details
WomanCart Limited IPO
WomanCart Limited’s Upcoming IPO: A Detailed Analysis
The anticipation is building as the IPO of WomanCart Limited, a notable online retailer specializing in beauty products, is set to open on October 16.
This offering has garnered significant attention, and investors are keen to uncover the specifics of this IPO.
In this comprehensive exploration, we will delve into the essential details of WomanCart Limiteds IPO, including its price band, the number of shares available, the face value, and various other critical aspects.
Price Band and Share Details
The price band for WomanCart Limited’s IPO has been fixed at an attractive Rs 86 per share. The company will make a total of 11,16,000 shares available for sale during this offering, and each share has a face value of Rs 10.
Importantly, this IPO represents a fresh issue of shares, with no Offer for Sale (OFS) component.
The company’s promoter is Veena Pahwa, an individual who has played a crucial role in WomanCart Limited’s journey to this milestone.
Investor Participation
Prospective investors should take note that they can bid in lots of 1600 shares, which allows for flexibility in investment based on individual preferences and financial capacity.
The total size of this IPO is estimated at an impressive Rs 9.56 crore, demonstrating WomanCart Limited’s commitment to raising capital for its future endeavors.
Investors will have the opportunity to place their bids from the IPO’s opening date, October 16, up until October 18, giving them ample time to make informed decisions.
Reservations and Market Maker
It is worth mentioning that, in accordance with the draft red herring prospectus filed by the company, 56,000 shares will be reserved for market maker Nikunj Stock Brokers under the IPO.
This reservation is a common practice in IPOs and serves to provide liquidity and stability to the newly listed shares.
The involvement of Nikunj Stock Brokers in this role highlights the trust and confidence placed in WomanCart Limited’s potential in the market.
Key Players and Management
NARNOLIA FINANCIAL SERVICES LIMITED has been appointed as the lead manager for the IPO, taking on a pivotal role in the successful execution of this offering.
The registrar for WomanCart Limited’s IPO is Maa Shitala Securities Private Limited, responsible for managing the logistics and record-keeping related to the IPO.
Allotment and Listing Details
Following the closure of the IPO on October 18, the allotment of shares is expected to occur on October 23, 2023. This is a crucial milestone in the IPO process as it determines how the shares are distributed among investors.
The listing of WomanCart Limited’s shares is set to take place on the NSE Emerge platform, a segment of the National Stock Exchange (NSE) specifically designed for small and medium-sized enterprises (SMEs).
Listing on this platform can provide WomanCart Limited with additional visibility and access to potential investors, potentially fueling its growth.
Gray Market Premium (GMP)
The gray market, often considered an unofficial and unregulated market, is buzzing with activity related to WomanCart Limited’s IPO.
Reports suggest that the company’s shares are trading at a premium of Rs 10 in the gray market, indicating strong investor interest and optimism surrounding the IPO.
This GMP is a clear indication of the positive sentiment and high demand for WomanCart Limited’s shares.
WomanCart’s Journey and Offerings
WomanCart Limited is no stranger to the world of beauty and e-commerce. The company was founded in 2018 and was originally known as WomanCart Private Limited.
However, in May 2023, it underwent a significant transformation by rebranding itself as WomanCart Limited, reflecting its ambitious growth plans and broader market aspirations.
The company has established itself as a prominent player in the beauty product industry, with a strong online presence, and it also operates a physical retail outlet in Shalimar Bagh, New Delhi.
This diversified approach allows WomanCart Limited to cater to a wide range of customers, both online and offline.
Financial Performance
Understanding the financial performance of a company going public is crucial for investors. In the financial year 2022-23, WomanCart Limited reported a revenue of Rs 8.75 crore.
Furthermore, the company recorded a profit after tax of Rs 47.01 lakh during this period. These figures demonstrate the company’s ability to generate revenue and profitability, which is a positive sign for potential investors.
IPO Utilization
The IPO proceeds are set to be utilized for various purposes, which is a common practice in IPOs. WomanCart Limited has outlined a comprehensive plan for the use of funds, including covering issue-related expenses, addressing general corporate needs, investing in app development, meeting working capital requirements, financing branding and marketing efforts, and managing issue-related costs.
This allocation of funds reflects the company’s strategic approach to fueling its future growth and expansion.
In conclusion, WomanCart Limited’s upcoming IPO is generating considerable interest in the market, driven by the company’s strong fundamentals, impressive financial performance, and strategic approach to utilizing the funds raised.
As investors consider their options, the IPO’s price band, the number of shares available, the face value, and the details related to reservations, allotment, and listing are all crucial factors to weigh.
The IPO landscape is dynamic, and WomanCart Limited’s offering presents a compelling opportunity for those looking to participate in the growth of an established beauty product retailer with a strong online and offline presence.
As the opening date of October 16 approaches, investors and market enthusiasts will be closely watching the developments in anticipation of WomanCart Limited’s debut on the NSE Emerge platform.
The gray market premium of Rs 10 further emphasizes the optimism and demand surrounding this IPO, making it an exciting proposition for prospective investors.
