This indicates a likely listing premium of 11%, compared with an issue price of Rs 69 at the upper end.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The company intends to utilise the total proceeds from the issue for funding purchase of electric two wheeler sales, capital expenditure proposed to be incurred towards setting up of eleven dealership stores in various states in India, repayment of debt and general corporate purposes.
BikeWo GreenTech since its incorporation has been engaged in the business of buying and selling used four wheelers from authorised dealers of reputed automobile brands.
As part of the pre-owned vehicle…
