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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: â¹24.09 crore
- Type: Entirely a fresh issue (38.86 lakh shares)
- Subscription Dates: September 20, 2024, to September 24, 2024
- Price Band: â¹59 to â¹62 per share
- Minimum Lot Size: 2000 shares
- Lead Manager: Khandwala Securities Limited
- Registrar: Bigshare Services Pvt Ltd
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
BikeWo GreenTech Limited IPO, GMP, Details, Price, and Review
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-27 | 62 | 7 (11.29%) | 2024-09-27 |
**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, GMP, Details, Price, and Review Details
| 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 Limited IPO, GMP, Details, Price, and Review Timeline
| 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, GMP, Details, Price, and Review Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4000 | ₹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 Limited IPO, GMP, Details, Price, and Review Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 89.00% | - |
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 IPO, GMP, Details, Price, and Review Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12 Dec 2023 | 3,016.07 | 1,807.2 | 130.94 | 1,640.43 | 1,375.64 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,962.4 | 2,061.86 | 9.8 | 723.14 | 1,239.26 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 1,497.41 | 1,391.71 | 15.19 | 713.34 | 784.07 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2021 | 1,216.1 | 2,297.71 | 47.27 | 365.25 | 850.85 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| - | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
Objectives of BikeWo GreenTech IPO
- The Company proposes to utilize the Net Proceeds from the Issue towards the following objectives:
- 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.
RHP:
DRHP:
Frequently asked Questions (FAQs )
-
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.
