BikeWo GreenTech IPO subscription status started on September 18, 2024, and closed on September 20, 2024. The company aims to raise approximately ₹24.09 crore via this IPO. The retail quota is 35%, and QIB is 50%. The price band is at ₹59 to ₹62 per equity share.
The IPO consists of a minimum market lot of 2000 Shares requiring an application amount of ₹124,000. BikeWo GreenTech is an SME IPO that will be listed on the NSE.
Also read: BikeWo GreenTech IPO: Dates, Pricing and Allotment 2024
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About Company
BikeWo Green Tech Limited is a leading two-wheeler retailer in India and began its operations in 2016. Since then, the company has maintained steady revenue from its activities. Initially, the company was engaged in buying and selling used four-wheelers through authorized dealers of renowned automobile brands. Over time, BikeWo Green Tech has developed a comprehensive network that covers every aspect of automobile transactions. Moreover, This includes searching for vehicles, determining prices, booking, certifying, purchasing, financing, and delivering vehicles to customers’ doorsteps.
Furthermore, BikeWo Green Tech acts as an intermediary between new car dealers and their used car lots, supplying used cars for sale and earning a margin on each transaction. Their business model focuses on establishing a dealership chain in Tier-II and Tier-III cities.
Currently, the company offers three types of dealerships: State Dealership, Diamond Dealership, and Platinum Dealership. They prioritize strengthening their presence in established markets such as Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. Consequently, BikeWo Green Tech plans to deepen its network in these regions while also gradually expanding into Rajasthan, Kerala, Karnataka, and West Bengal as part of its cluster-focused expansion strategy.
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We recommend that investors, therefore, consider applying for the IPO with a long-term perspective. Additionally, it’s important to evaluate the QIB, NII, and Retail subscription numbers before making an investment decision.
BikeWo GreenTech IPO Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00 | 1.00 | 43.03 |
| NII | 0.34 | 2.75 | 22.48 |
| RII | 2.36 | 17.57 | 61.04 |
| Total | 1.28 | 9.69 | 41.82 |
BikeWo GreenTech IPO Investor Categories
- Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
- Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc
- Retail Individual Investors (RII): Retail Individual Investors or NRIs
- Employee (EMP): Eligible Employees
- Others: Eligible Shareholders
IPOGMP.IN Review for BikeWo GreenTech
- May Apply
BikeWo GreenTech IPO Form
To apply for the BikeWo GreenTech IPO, use ASBA via your bank’s online portal or download and submit IPO forms through your bank or broker.
FAQs
The subscription for the BikeWo Green Tech IPO will begin on September 20, 2024, for Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors.
You can subscribe using either the ASBA (Application Supported by Blocked Amount) or Non-ASBA methods. Moreover, To apply online via ASBA, simply log into your bank account. Alternatively, you can download the application form from the internet or obtain a physical copy.
Additionally, To view the current subscription numbers for the BikeWo Green Tech IPO, you can visit our portal, which updates this information hourly from official sources.
To apply for the BikeWo Green Tech IPO through Zerodha, start by logging into your account on the Zerodha website or app. Next, navigate to the Portfolio section and select IPOs. Furthermore, Find “BikeWo Green Tech,” click on the Bid button, and enter your UPI ID, quantity, and price. After submitting your application, proceed to your UPI app (like Net Banking or BHIM) to approve the mandate. Remember to ensure you have a Demat account opened with Zerodha.
Additionally, To apply through Upstox, log in to the Upstox app using your credentials. Then, select the IPO option and locate “BikeWo Green Tech.” Click the Bid button to confirm your application.
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