Tunwal E-Motors Limited IPO Detail
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 its 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 has the capacity to produce up to 41000 units.
As of March 31, 2024, the company had 64 permanent employees. The company trains its employees regularly to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.
Company Promoters
The promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUFIPO Details
| IPO Opening Date | Jul 15, 2024 |
| IPO Closing Date | Jul 18, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹59 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹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) |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 1.04x | 2.96x | 2.00x |
| Day 2 | 0.00x | 0.00x | 0.00x | 1.41x | 4.95x | 3.18x |
| Day 3 | 0.00x | 0.00x | 0.00x | 7.61x | 16.64x | 12.31x |
IPO Tentative Timetable
The Tunwal E-Motors Limited IPO open date is Jul 15, 2024, and the close date is Jul 18, 2024. The issue may list on Jul 23, 2024.
| IPO Open Date | Jul 15, 2024 |
| IPO Close Date | Jul 18, 2024 |
| Basis of Allotment Date | Jul 19, 2024 |
| Initiation of Refunds | Jul 22, 2024 |
| Credit of Shares to Demat Account | Jul 22, 2024 |
| IPO Listing Date | Jul 23, 2024 |
IPO Lot Size
The Tunwal E-Motors Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹118000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹118000 |
| Maximum | 1 | 2000 | ₹118000 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.04% |
| Post Issue Share Holding | 62.34% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-24 | 7582.97 | 10553.69 | 1181.17 |
| 31-Mar-23 | 5694.49 | 7655.74 | 372.48 |
| 31-Mar-22 | 5037.44 | 7566.42 | 233.94 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding of working capital requirements of the Company.
- Research & Development
- Pursuing Inorganic Growth
- General Corporate Expenses
Tunwal E-Motors Limited IPO Registrar:
Skyline Financial Services Private Ltd
Tunwal E-Motors Limited IPO Lead Manager(s):
Horizon Financial Pvt Ltd
Company Contact Information:
Tunwal E-Motors Limited
Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S, No. 2164, Plot No. 31/11 Sadashiv Peth
Pune
Pune
