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The initial public offer (IPO) of Naturewings Holidays received bids for 3,40,70,400 shares as against 9,50,400 shares on offer, as per BSE data as of 17:00 hours on Tuesday (3 September 2024). The issue was subscribed 35.84 times. The issue opened for bidding on Tuesday (3 September 2024) and it will close on Thursday (05 September 2024). The price of the IPO is fixed at Rs 74 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on BSE's SME platform. The IPO comprises fresh issue of 9,50,400 equity shares. The promoter and promoter group shareholding will dilute to 66.99% from 95.80% pre-issue. About 48,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 9,02,400 equity shares. The issue and the net issue will constitute 30.07% and 28.55% 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, marketing and business promotions and general corporate purpose. Nature Wings Holiday offers specialised and curated holiday packages for leisure travellers visiting the Himalayan ranges. The company offers end to end travel solutions including land and air bookings, hotel bookings, in transit arrangements, local sightseeing and such other destination management services. The company offers holiday packages through its website. As of 31 March 2024, the company has access to over 750 hotels across Bhutan, Nepal, North East, Sikkim-Darjeeling and Kashmir- Ladakh in the Himalayan Ranges and in various international destinations, the company has network of over 100 travel agents spread across more than 12 major cities across India and the company has 51 employees. The company recorded revenue from operations of Rs 21.81 crore and net profit of Rs 1.11 crore for the period as on 31 March 2024. Powered by Capital Market - Live News
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