The initial public offer (IPO) of WOL 3D India received bids for 1,88,34,000 shares as against 17,04,000 shares on offer, as per NSE data as of 17:00 hours on Monday (23 September 2024). The issue was subscribed 11.05 times.
The issue opened for bidding on Monday (23 September 2024) and it will close on Wednesday (25 September 2024). The price band of the IPO is fixed between Rs 142 to Rs 150 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on NSE’s SME platform.
The issue size comprises of 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 will dilute to 65.48% from 89.53% pre-issue.
About 88,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 16,16,000 equity shares. The offer and the net offer will constitute 26.41% and 25.05% respectively of the post offer paid up equity share capital of the company.
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 Friday, 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 engaged in the business of providing 3D Printing solutions enabling easier prototyping finding its application in various sectors like manufacturing, education, engineering, architecture, interior designing, fashion designing, product designing, medical, dental etc. the company’s portfolio of offerings includes, 3D printers, 3D Scanners, Laser Engravers and 3D pens, 3D Filaments, 3D Resins, 3D Prototyping services and other services.
The company acts as distributors for International 3D Printer brands like Flashforge, Creality, Bambu lab, Phrozen and Elegoo. The company sells its products through e-commerce platforms such as Flipkart India Private Limited, Jiomart, Firstcry, Indiamart, Snapdeal, Moglix and Amazon Seller Services Private or through retail chains outlets like CROMA and Crosswords. As on August 31, 2024, the company has 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.