WomenCart Limited IPO: Issue Fully Booked on Day 1, GMP, Review, and More

The WomenCart Limited IPO, which opened for subscription on Monday, October 16, has witnessed an overwhelming response from investors. The IPO, with a price band set at ₹86, is already fully booked on its first day, showcasing the confidence and enthusiasm of investors in this online retail platform.

About WomenCart Limited:

WomenCart Limited, established in 2018, has swiftly made its mark as an online retail platform offering an extensive range of beauty brands and wellness products catering to skincare, hair care, and body care for both men and women. The company prides itself on providing customers with access to over 100 skincare brands. It also holds an offline presence in Delhi’s Shalimar Bagh, which is set to open in April 2022. The company further expanded its reach by establishing four subsidiaries, which acquired and managed online businesses listed on the digital platform.

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IPO Details:

WomenCart’s IPO is a fresh issue of 1,112,000 equity shares with a total worth of ₹9.56 crore, and there is no Offer for Sale (OFS) component. The company has ambitious plans for the funds raised through the IPO, including covering issue expenses, general corporate purposes, app development costs, working capital requirements, branding and marketing expenses, and issue costs.

The net proceeds from the IPO, amounting to ₹13,554 thousand, will be allocated towards online platform marketing, app development, and working capital needs during regular business operations.

Subscription Status:

On the first day, the WomenCart IPO received robust subscription interest, with an overall subscription status of 5.03 times( See WomenCart IPO Subscription Status Today). Retail investors displayed exceptional enthusiasm, subscribing to their portion 8.39 times. Non-institutional buyers also showed decent interest, with their portion subscribed 1.67 times.

As of the latest data, the company has received bids for 53,08,800 shares against the 1,112,000 shares on offer.

Grey Market Premium (GMP):

The Grey Market Premium for WomenCart Limited IPO currently stands at 15. This implies that WomenCart shares are trading at a premium of ₹15 (Check GMP Today) in the grey market as of Monday. Taking into account the upper end of the IPO price band and the current grey market premium, the estimated listing price for WomenCart shares is projected at ₹101 apiece, reflecting an 17.44% increase over the IPO price of ₹86.

The ‘Grey Market Premium’ serves as an indicator of investors’ willingness to pay more than the issue price, signifying strong demand.

Expert Opinion:

Dilip Davda, the contributing editor at Chittorgarh, shared his insights on WomenCart Limited. He commented, “The company is in digital consumer-centric personal care product marketing for men and women. Its financial performance so far is average and not matching the asking price. Its comparison with Nykaa appears to be an eyewash. The small equity base post-IPO indicates longer gestation for migration to the mainboard. Higher spending hints at fully structured IPO funding. Well-informed/cash surplus investors may park funds for long-term rewards.”

It’s important to note that the views and recommendations provided are those of individual analysts and do not represent the views of Stockesta. Potential investors are encouraged to seek advice from certified experts before making investment decisions.

The WomenCart Limited IPO’s enthusiastic response reflects growing interest in digital retail platforms and personal care products. As investors eagerly await the listing, the market’s verdict on WomenCart’s potential will be closely watched.

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