Nominations for the 2024 3D Printing Industry Awards are now open. Tell us who is leading.
Mumbai-based 3D printing solutions provider Wol 3D India Limited (NSE: WOL3D) has completed its Initial Public Offering (IPO) on the National Stock Exchange’s Emerge platform, seeing significant interest from investors.
Open from September 23 – 25, 2024, this IPO was oversubscribed, receiving bids 374 times the available shares. With a minimum lot size of 1,000 shares, the price band for the shares was set at ₹142 ($1.7) to ₹150 ($1.8) per share. At the upper end of the price band, retail investors were required to make a minimum investment of ₹1.5 lakh ($1,807.2).
Additionally, the offering raised ₹25.56 crore ($3.05M) through a fresh issue of 1.45 million shares and an offer-for-sale of 252K shares. Investor demand was led by non-institutional investors (NIIs), who subscribed to the issue 749 times, while the retail portion was booked 368 times. The qualified institutional buyers (QIBs) category saw subscriptions of 101 times.
“To everyone who has been part of this journey—thank you for your unwavering support and belief in our vision. As we look to the future, I am more committed than ever to driving innovation and delivering exceptional solutions that empower our clients and communities,” commented Rahul Chandalia on LinkedIn, CEO of WOL3D.
WOL3D’s financial performance
Proceeds from the IPO will be used to support working capital requirements and to repay the company’s existing debts. The company filed its Draft Red Herring Prospectus (DHRP) earlier in the year, marking its intent to list on the NSE Emerge platform.
WOL3D has reported substantial financial growth over the past few years. For the fiscal year ending March 2024, the company’s revenues increased by 69%, and its profit after tax (PAT) grew by 109%. As of its IPO, WOL3D’s market capitalization is approximately ₹96.78 crore ($11.66M).
WOL3D’s shares were expected to be listed on the NSE SME Emerge platform on September 30, 2024, pending final confirmation of the listing date. This listing will represent a key milestone in the company’s growth and expansion strategy, as it seeks to strengthen its market position in the 3D printing industry.
Founded in 2016, WOL3D manufactures and distributes a range of 3D printers, pens, and filaments, operating from 10 offices across India. The company provides a variety of products and services, including 3D prototyping, and is a prominent player in India’s consumer 3D printing market, says the company.
WOL3D has developed significant expertise in AM over the past six years, with applications in sectors such as manufacturing, engineering, architecture, medical, and dental. Additionally, the company offers after-sales support and has also launched India’s first sustainable 3D printing experience center in Mumbai.
How important is this news? Take 15 seconds to tell us, make sure you click submit.
IPOs in the AM industry
WOL3D’s successful public listing is part of a growing trend in the AM sector, where companies are seeking to raise capital through IPOs. Earlier this year, GE Aerospace officially began trading as an independent public company on April 2, 2024, after GE completed the spin-off of GE Vernova.
The company made its debut on the New York Stock Exchange (NYSE) with the ticker symbol “GE”, participating in a joint opening bell ceremony alongside GE Vernova, which is listed under “GEV”. As part of the spin-off, shareholders of GE received one share of GE Vernova for every four shares they owned. The transaction was designed to ensure tax efficiency for U.S. shareholders.
Three years ago, global manufacturing marketplace Xometry launched a $252 million IPO on the NASDAQ Global Select Market under the ticker ‘XMTR’, with shares priced at $44.00 each, exceeding the initial range of $38 to $42. The offering consisted of 6.88 million shares, with an additional 1.03 million shares available to underwriters. In early trading, Xometry’s stock surged by 64%, reaching $72.03.
What 3D printing trends do the industry leaders anticipate this year?
What does the Future of 3D printing hold for the next 10 years?
To stay up to date with the latest 3D printing news, don’t forget to subscribe to the 3D Printing Industry newsletter or follow us on Twitter, or like our page on Facebook.
While you’re here, why not subscribe to our Youtube channel? Featuring discussion, debriefs, video shorts, and webinar replays.
Featured image shows the WOL3D team at the NSE. Photo via WOL3D.
