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13 September 2024

BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review

BikeWo GreenTech Limited is an electric two-wheeler retailer in India. They commenced their business operations in 2016 and the revenue from operations has been steady since then. The Company since its incorporation has been engaged in the business of buying and selling used four-wheelers from authorized dealers of reputed automobile brands (“New Car Dealers”).

As part of their pre-owned vehicle sale business, they procure used cars from New Car Dealers, who are approached by prospective customers, who wish to sell or exchange their existing vehicles for a new vehicle. After procuring used cars through such channels, they further display them for sale at various sites/parks and sell outlets of their designated used car dealers. They act as an intermediate channel between the New Car Dealers and their designated park and sell used car lots, by supplying the used cars for sale and earning a margin during the sale of such cars.

BikeWo GreenTech IPO Overview:

Issue Size: ₹24.09 crore
● Type: Entirely a fresh issue (38.86 lakh shares)
Subscription Dates: September 20, 2024, to September 24, 2024
Price Band: ₹59 to ₹62 per share
Minimum Lot Size: 2000 shares
Lead Manager: Khandwala Securities Limited
Registrar: Bigshare Services Pvt Ltd

WHAT IS GMP?

GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.

BikeWo GreenTech Limited IPO GMP

GMP Date	IPO Price	GMP	Last Updated
27-09-2024	62	7 (11.29%)	27-Sep-2024 12:10
26-09-2024	62	7 (11.29%)	26-Sep-2024 12:25
25-09-2024	62	7 (11.29%)	25-Sep-2024 12:00
24-09-2024	62	20 (32.26%)	24-Sep-2024 12:35
23-09-2024	62	20 (32.26%)	23-Sep-2024 12:30
20-09-2024	62	15 (24.19%)	20-Sep-2024 12:20
19-09-2024	62	10 (16.13%)	19-Sep-2024 12:35
18-09-2024	62	10 (16.13%)	18-Sep-2024 12:15
17-09-2024	62	10 (16.13%)	17-Sep-2024 12:55
16-09-2024	62	10 (16.13%)	16-Sep-2024 13:45

**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**

BikeWo GreenTech Limited IPO Overview

Detail	Description
IPO Date	September 20, 2024 to September 24, 2024
Listing Date	[.]
Face Value	₹10 per share
Price Band	₹59 to ₹62 per share
Lot Size	2000 Shares
Total Issue Size	3,886,000 shares (aggregating up to ₹24.09 Cr)
Fresh Issue	3,886,000 shares (aggregating up to ₹24.09 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre issue	9,157,250
Shareholding post issue	13,043,250
Market Maker portion	196,000 shares

BikeWo GreenTech IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Friday, September 20, 2024
IPO Close Date	Tuesday, September 24, 2024
Basis of Allotment	Wednesday, September 25, 2024
Initiation of Refunds	Thursday, September 26, 2024
Credit of Shares to Demat	Thursday, September 26, 2024
Listing Date	Friday, September 27, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 24, 2024

BikeWo GreenTech Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹124,000
Retail (Max)	1	2000	₹124,000
HNI (Min)	2	4,000	₹248,000

BikeWo GreenTech Limited IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the offer
Retail Shares Offered	Not less than 35.00% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer

BikeWo GreenTech IPO Promoter Holding

Share Holding Pre Issue	89.00%
Share Holding Post Issue

Company & Financials

Incorporated in December 2006,Bikewo Green Tech Limited is an electric two-wheeler retailer in India. The company's brand is in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra and Gujarat.

The company operates its business activities through dealership models. They offer three types of dealerships to their dealers:

● State Dealership
● Diamond Dealership
● Platinum Dealership

The company plans to open stores in Raipur, Indore, Delhi, Chandigarh, Lucknow, Prayagraj, Patna, Bhubaneshwar, Nagpur, Bangalore and Trivandrum.

Competitive Strength:

1. Premium EV retail business in India with dealerships for brands such as Ola Electric, Quantum E-scooters, Bounce, GT-Force, etc.
2. Unique Business Model with presence in various states across India.
3. Continued expansion in the after-sales segment is driving steady revenue growth and higher profit margins.

BikeWo GreenTech Limited Financial Information

Period Ended	12 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	3,016.07	1,962.4	1,497.41	1,216.1
Revenue	1,807.2	2,061.86	1,391.71	2,297.71
Profit After Tax	130.94	9.8	15.19	47.27
Net Worth	1,640.43	723.14	713.34	365.25
Total Borrowing	1,375.64	1,239.26	784.07	850.85
Amount in ₹ Lakhs

Objectives of BikeWo GreenTech IPO

● Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to their new and existing dealers.
● Funding capital expenditure is proposed to be incurred towards setting up eleven dealership stores in various states in India.
● Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
● General Corporate Purposes.

BikeWo Green Tech IPO Review

The company is an emerging EV-two-wheeler retailer on a Pan-India basis. It is doing business on a third-party/franchise basis model. It posted growth in the top line, but the bottom line marked inconsistency. Based on FY24 earnings, the issue appears to be aggressively priced. Well-informed/cash surplus investors may park moderate funds for the long term.

FAQs for BikeWo Green Tech IPO

What is the BikeWo Green Tech IPO?

BikeWo Green Tech IPO is a SME IPO. The company is going to raise ₹24.09 Crores via IPO. The issue is priced at ₹59 to ₹62 per equity share. The IPO is to be listed on NSE.
When will the BikeWo Green Tech IPO open for subscription?

The IPO is to open on September 20, 2024 for QIB, NII, and Retail Investors. The IPO will close on September 24, 2024.
What is BikeWo Green Tech IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is BikeWo Green Tech IPO Issue Size?

BikeWo Green Tech IPO issue size is ₹24.09 crores.
What is the BikeWo Green Tech IPO Price Band?

BikeWo Green Tech IPO Price Band is ₹59 to ₹62.
What is BikeWo Green Tech IPO Lot Size?

The minimum bid is 2000 Shares with ₹124,000 amount.
What is the BikeWo Green Tech IPO Allotment Date?

BikeWo Green Tech IPO allotment date is September 25, 2024.
What is the BikeWo Green Tech IPO Listing Date?

BikeWo Green Tech IPO listing date is September 27, 2024. The IPO is to list on NSE.
What is the current GMP of BikeWo Green Tech?

The current GMP of BikeWo Green Tech is 7 (11.29%).