Voler Car Limited IPO

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The company is a leading provider of Employee Transportation Services (ETS), catering to IT/ITeS companies, large corporates, and multinational clients across multiple cities in India. Their transportation solutions are designed to offer safe, efficient, and seamless home-to-office-to-home travel, backed by robust 24/7 customer support and a strong operational team.

Core Services and Operations

Comprehensive Corporate Transportation Offering end-to-end transportation solutions tailored to corporate needs. Fleet management operating a fleet of 2,000+ vehicles, including small cars, sedans, SUVs, electric vehicles (EVs), buses, and tempo travelers. High Trip Volume completed approximately 3,23,550 trips in FY 2023-24, averaging 884+ trips daily. Dedicated support each location is equipped with a dedicated team for real-time monitoring, incident response, and SLA compliance.

Geographic Presence

Currently, they operate in six major Indian cities, ensuring seamless mobility solutions for corporate clients:
i. Kolkata                                      ii. Mumbai                            iii. Pune                                 iv. Bhubaneshwar
iv. Delhi-NCR                              v. Ahmedabad

Growth Potential & Competitive Advantage :-
With their technology-driven approach, experienced leadership, and commitment to safety, they are well-positioned to scale operations further. As demand for corporate mobility solutions rises, they aim to expand into new cities, optimize fleet efficiency, and enhance service quality to strengthen their market position in India’s growing ETS sector.

Objects of the Voler Car Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: i. Funding working capital requirements of the Company ii. General Corporate Purposes. iii. IPO Issue expenses.
DRHP of Voler Car Limited IPO
RHP of Voler Car Limited IPO

Voler Car Limited IPO Details:

Open Date: Feb 12 2025
Close Date: Feb 14 2025
Total Shares: 30,00,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 27.00 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 85 - 90 Per Equity Share
Listing At: NSE Emerge
Listing Date: Feb 19 2025

Promoters And Management:

Mr. Vikas Parasrampuria, 38, is the Whole-Time Director and Promoter of the company with 13+ years of experience in corporate and travel services. He holds an MBA from ICFAI University, Dehradun, and a B.Com from the University of Calcutta. As a key leader, he drives operations, strategy, and decision-making, playing a vital role in the company’s growth and success. Mr. Pawan Parasrampuria, 61, is the Chairman, Managing Director, and Promoter of the company with 13+ years of experience in the corporate and travel service industry. A B.Com graduate from St. Xavier’s College, University of Calcutta, he specializes in financial decision-making, cost optimization, and strategic planning. He plays a pivotal role in overseeing management, daily operations, and company growth. Mr. Sachin Punni, 39, is the Non-Executive Director of the company with 9+ years of experience in operations management. He holds a B.Tech from Punjab Technical University and an MBA from ICFAI University, Dehradun. He plays a key role in improving productivity, streamlining workflows, and optimizing resources. He oversees Client Acquisition, Site Monitoring, and Business Development, contributing to the company’s operational efficiency and growth.

Financials of Voler Car Limited IPO:

(In Crores)
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 21.49 30.89 23.96 23.72
EBITDA 3.45 6.07 3.59 2.84
EBITDA Margins 15.99% 19.31% 13.50% 11.46%
PAT 2.48 3.56 1.99 0.78
PAT Margins 11.56% 11.53% 8.31% 3.32%
ROCE 123.06% 88.30% 60.88%
D/E Ratio 0.04 0.37 Negative Net Worth Negative Net Worth
CFOA 0.06 3.03 2.03 3.78

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Voler Car  (FY 2024) 30.89 Cr. 19.31% 11.53% 0.04 100.29 Cr. 28.17*
Wise Travel India  (TTM) 464 Cr. 9% 4.74% 0.33 391 Cr. 17.60
Shree OSFM EMobility (TTM) 118 Cr. 11% 6.78% 0.14 177 Cr. 21.90 

*Forward PE is 20.21 on FY 25 PAT basis.
                                        

                                    

                                                                                                    

                                        

                                            
Recommendation on Voler Car Limited IPO:

                                            
Review and Recommendation of Voler Car IPO by team IZ is 4/10.

                                        

                                    

                                                                
                                
                                                                 

                                    

                                                                                    

                                                
Lead Manager of Voler Car Limited IPO:

                                            
 
    
                                                                                                        
  1. GYR CAPITAL ADVISORS PRIVATE LIMITED
    2. 
                                                        
 

                                

                                                                
                                 
                                                                  

                                    

                                                                                    

                                                
Registrar of Voler Car Limited IPO:

                                            
 
    
                                                                                                        
  1. Kfin Technology Private Limited
    2. 
                                                        
 

                                

                                                            

                                

                            

                                                                  

                                        

                                            
Company Address: 

                                            
Voler Car Limited
22 Burtolla Street,
4th Floor,
Kolkata - 700007
Phone: +91 9147359888
Email: compliance@volercars.com
Website: https://volercars.com/
                                        

                                    

                                                              
                                                                   

                                        

                                            
                                        

                                    

                                                                 
                                                            

							
                            

                                

                                    

                                                                            

                                

                            

                            
							
                            

                            

                            

                                

                                    

                                        

                                    

                                

                            

                            
                            

                                

                                
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