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19 Dec 2024
Tunwal E-Motors Limited IPO
Tunwal E-Motors Ltd, an upcoming force in the electric vehicle (EV) manufacturing sector, stands at the forefront of India’s drive towards sustainable, eco-friendly mobility solutions. Established in 2018, the company has rapidly evolved to become a significant player in the market, specializing in designing, developing, manufacturing and distributing high-quality electric two-wheelers. Tunwal E-Motors operates with a streamlined organizational hierarchy, featuring key departments that drive various facets of its operations. The Sales and Marketing Department takes center stage, steering the creation and implementation of effective distribution strategies and managing diverse sales channels.
Tunwal E-Motors IPO is a fixed price issue of Rs 115.64 crores. The issue combines a fresh issue of 138.5 lakh shares aggregating to Rs 81.72 crores and an offer for sale of 57.5 lakh shares aggregating to Rs 33.93 crores. Tunwal E-Motors IPO opens for subscription on July 15, 2024 and closes on July 18, 2024. Tunwal E-Motors IPO price is ₹59 per share. The minimum lot size for an application is 2000 Shares. Horizon Financial Pvt Ltd is the book-running lead manager of the Tunwal E-Motors IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market makers for Tunwal E-Motors IPO are Nikunj Stock Brokers and Giriraj Stock Broking.
Tunwal E-Motors IPO Overview
| Detail | Description |
|---|---|
| IPO Date | July 15, 2024 to July 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹59 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 19,600,000 shares (aggregating up to ₹115.64 Cr) |
| Fresh Issue | 13,850,000 shares (aggregating up to ₹81.72 Cr) |
| Offer for Sale | 5,750,000 shares of ₹2 (aggregating up to ₹33.93 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 41,451,080 |
| Shareholding post issue | 55,301,080 |
| Market Maker portion | 980,000 shares Nikunj Stock Brokers Giriraj Stock Broking |
Tunwal E-Motors IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Monday, July 15, 2024 |
| IPO Close Date | Thursday, July 18, 2024 |
| Basis of Allotment | Friday, July 19, 2024 |
| Initiation of Refunds | Monday, July 22, 2024 |
| Credit of Shares to Demat | Monday, July 22, 2024 |
| Listing Date | Tuesday, July 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 18, 2024 |
Tunwal E-Motors IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
Tunwal E-Motors IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Tunwal E-Motors IPO Promoter Holding
| Share Holding Pre Issue | 97.04% |
| Share Holding Post Issue | 62.34% |
Company & Financials
Incorporated in December 2018, Tunwal E-Motors Limited is an electric vehicle (EV) manufacturing company that specializes in designing, developing, manufacturing and distributing high-quality electric two-wheelers. The company has introduced over 23 different models in the local market to cater to various needs. The company has a presence in 19 states through a network of more than 256 dealers. The company has a network of around 256 dealers in India. When a dealer is appointed, the company requires them to provide after-sales services such as routine maintenance, battery management, diagnostics, safety checks and component replacement to customers. The manufacturing unit of the company is located in Palsana, Sikar spread across an area of 8000 square meters. Tunwal E-Motors Ltd manufactures electric bikes at its plant in Palsana and can produce up to 41000 units.
Tunwal E-Motors Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 7,582.97 | 5,694.49 | 5,037.44 | |||||||||||||||||||||||||||||||||||||
| Revenue | 10,553.69 | 7,655.74 | 7,566.42 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | 1,181.17 | 372.48 | 233.94 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 2,053.08 | 821.91 | 424.43 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,224.06 | 409.40 | 321.55 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 57.53% |
| ROCE | 59.38% |
| Debt/Equity | 1 |
| RoNW | 57.53% |
| P/BV | 11.92 |
| PAT Margin (%) | 11.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.85 | 2.14 |
| P/E (x) | 20.71 | 27.62 |
Objectives of Tunwal E-Motors IPO
The company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 1. Funding of working capital requirements of the Company.
- 2. Research & Development.
- 3. Pursuing Inorganic Growth.
- 4. General Corporate Expenses.
Tunwal E-Motors IPO Review
No doubt, that the future lies for EV products and many corporations have dropped their hat in the fray for the same. Amidst such a scenario, we have some odd and emerging players like TEML which has its target focused on rural marketing. The company marked growth in its top and bottom lines. Based on FY24 super earnings, the issue appears aggressively priced. Well-informed investors may park funds for the medium to long term.
FAQs for Tunwal E-Motors IPO
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What is Tunwal E-Motors IPO?
Tunwal E-Motors IPO is an NSE SME IPO. They are going to raise ₹115.64 Crores via IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE.
-
When will Tunwal E-Motors IPO open?
The IPO is to open on July 15, 2024, for QIB, NII, and Retail Investors.
-
What is Tunwal E-Motors IPO Investors Portion?
The investors’ portion for QIB is 0%, NII is 50%, and Retail is 50%.
-
What is Tunwal E-Motors IPO Size?
Tunwal E-Motors IPO size is ₹115.64 crores.
-
What is Tunwal E-Motors IPO Price Band?
Tunwal E-Motors IPO Price Band is ₹59 per equity share.
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What is Tunwal E-Motors IPO Minimum and Maximum Lot Size?
The IPO bid is 2000 shares with ₹118,000.
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What is Tunwal E-Motors IPO Allotment Date?
Tunwal E-Motors IPO allotment date is July 19, 2024.
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What is Tunwal E-Motors IPO Listing Date?
Tunwal E-Motors IPO listing date is July 23, 2024. The IPO to list on NSE SME.
RHP:
RHP of Tunwal E-Motors Limited IPO
DRHP:
DRHP of Tunwal E-Motors Limited IPO
-
What is Tunwal E-Motors IPO?
Tunwal E-Motors IPO is an NSE SME IPO. They are going to raise ₹115.64 Crores via IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE.
-
When will Tunwal E-Motors IPO open?
The IPO is to open on July 15, 2024, for QIB, NII, and Retail Investors.
-
What is Tunwal E-Motors IPO Investors Portion?
The investors’ portion for QIB is 0%, NII is 50%, and Retail is 50%.
-
What is Tunwal E-Motors IPO Size?
Tunwal E-Motors IPO size is ₹115.64 crores.
-
What is Tunwal E-Motors IPO Price Band?
Tunwal E-Motors IPO Price Band is ₹59 per equity share.
-
What is Tunwal E-Motors IPO Minimum and Maximum Lot Size?
The IPO bid is 2000 shares with ₹118,000.
-
What is Tunwal E-Motors IPO Allotment Date?
Tunwal E-Motors IPO allotment date is July 19, 2024.
-
What is Tunwal E-Motors IPO Listing Date?
Tunwal E-Motors IPO listing date is July 23, 2024. The IPO to list on NSE SME.
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