Voler car has this business update after flat debut on Dalal Street. Do you own?

After a flat listing of Voler Car on Wednesday, February 19, the company has secured two new contracts.  In a recent exchange filing, the firm announced a new service contract with Motherson Air Travel Agencies Ltd for the Bihar region. The anticipated monthly revenue from this contract is expected to exceed ₹3 crores. This agreement requires a minimum of 500 vehicles to be deployed and allows for additional scalability based on performance and business requirements.

In addition, the company has obtained a new service contract with Teleperformance Global Business Private Ltd for the Noida area. The anticipated monthly revenue from this agreement is projected to exceed ₹25 lakhs, with opportunities for further expansion based on contract performance and operational needs.

The company recently informed its stakeholders about significant updates concerning service contracts since the submission of its Red Herring Prospectus (RHP).

“These developments align with our growth strategy, strengthening our presence in key regions and expanding our service offerings to large corporate clients. The company remains committed to delivering best-in-class employee transportation solutions and leveraging our asset-light business model to drive sustainable growth,” said the firm in an exchange filing. 

Voler Car share price on Thursday’s session opened at an intraday high of ₹93 apiece on the NSE, the stock touched an intraday low of ₹88 per share.