Tunwal E-Motors IPO
IPO Listing Details
- Listing Date
23 Jul 2024
- Listing Price
₹ 64.00
- Listing Change
8.47%
- Last Traded Price
₹ 47.00
IPO Details
- Open Date
15 Jul 2024
- Close Date
18 Jul 2024
- IPO Price Range
₹ 59
- IPO Size
₹ 115.64 Cr
- Listing Exchange
NSE SME
- Listing Date
23 Jul 2024
IPO Timeline
Tunwal E-Motors IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 15-Jul-2024 | - | 1.04 | 2.93 | 1.99 |
Last Updated: 18 July 2024 6:33 PM by 5Paisa
Last Updated: 15th July 2024, 06:15 PM by 5paisa
Tunwal E-Motors IPO is set to open on 15 July 2024 and will close on 18 July 2024. The company is a manufacturer of electric vehicles (EVs).
The IPO includes a fresh issue of 1,38,50,000 shares aggregating up to ₹81.72 Cr and an offer for sale of 57,50,000 shares aggregating up to ₹33.93 Cr. The price range is ₹59 per share and the lot size is 2000 shares.
The allotment is scheduled to be finalized on 19 July 2024. It will go public on NSE SME, with a tentative listing date of 23 July 2024.
Horizon Financial Pvt Ltd is the book-running lead manager, while Skyline Financial Services Private Ltd is the registrar.
Objectives Of Tunwal E-Motors IPO
1.Funding of working capital requirements
2. Research & Development
3. Pursuing Inorganic Growth
4. General Corporate Expenses
Tunwal E-Motors IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 115.64 |
| Offer for sale | 33.93 |
| Fresh issue | 81.72 |
Tunwal E-Motors IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹118000 |
| Retail (Max) | 1 | 2000 | ₹118000 |
| S-HNI (Min) | 2 | 4000 | ₹236,000 |
Tunwal E-Motors IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| NII (HNI) | 1.04 | 93,10,000 | 96,80,000 | 57.11 |
| Retail | 2.93 | 93,10,000 | 2,72,84,000 | 160.98 |
| Total | 1.99 | 1,86,20,000 | 3,69,64,000 | 218.09 |
Founded in December 2018, Tunwal E-Motors Limited is a manufacturer of electric vehicles (EVs) with a focus on creating, developing, producing, and marketing premium electric two-wheelers.
Thanks to a network of more than 256 dealers, the brand is well-represented in 19 states. After-sales services, such as regular maintenance, battery management, diagnostics, safety inspections, and component replacement, must be offered by each dealer.
With a production capacity of up to 41,000 electric motorcycles, Tunwal E-Motors Ltd. has an 8000 square meter manufacturing facility in Palsana, Sikar. To meet a range of demands, the firm has launched more than 23 distinct models on the local market.
As of March 31, 2024, the firm employs 64 permanent employees who are frequently educated to increase operational excellence, productivity, and compliance with quality and safety requirements.
Peers
Wardwizard Innovations & Mobility Limited
TVS Motors
For More Information
Webstory on Tunwal E-Motors IPO
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue from operations | 105.54 | 76.56 | 75.66 |
| EBITDA | 15.77 | 4.93 | 3.24 |
| PAT | 11.81 | 3.72 | 2.34 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 75.83 | 56.94 | 50.37 |
| Share Capital | 8.29 | 4.13 | 10.29 |
| Total Borrowings | 20.52 | 18.90 | 13.58 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 0.18 | -2.08 | -2.55 |
| Net cash from / (used in) investing activities | -0.85 | -1.86 | -6.51 |
| Net cash flow from / (used in) financing activities | 0.04 | 4.60 | 10.66 |
| Net increase (decrease) in cash and cash equivalents | -0.63 | 0.66 | 1.60 |
Strengths
1. It has a robust presence in 19 states with over 256 dealers.
2. The company offers over 23 different electric two-wheeler models.
3. The Palsana plant has a substantial production capacity of up to 41,000 units.
4. Regular training programs for employees improve operational excellence
Risks
1. The EV market is highly competitive.
2. The company's reliance on its dealer network for after-sales services can be a risk.
3. Changes in government policies or regulations.
4. Any disruptions at the manufacturing unit in Palsana.
in 3
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FAQs
Tunwal E-Motors IPO opens from 15th July to 18th July 2024.
The size of Tunwal E-Motors IPO is ₹115.64 Cr.
The price band of Tunwal E-Motors IPO is fixed at ₹59 per share.
To apply for Tunwal E-Motors IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Tunwal E-Motors IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Tunwal E-Motors IPO is 2000 shares and the investment required is ₹1,18,000.
The share allotment date of Tunwal E-Motors IPO is 19th July 2024
The Tunwal E-Motors IPO will be listed on 23rd July 2024.
Horizon Financial Pvt Ltd is the book-running lead manager for Tunwal E-Motors IPO.
Tunwal E-Motors plans to utilize the raised capital from the IPO for:
Funding working capital requirements
Research & Development
Pursuing Inorganic Growth
General Corporate Expenses
Contact Information
Tunwal E-Motors
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, 4110
Phone: +91-20-24336001
Email: cs@tunwal.com
Website: https://tunwal.com/
Tunwal E-Motors IPO Register
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Tunwal E-Motors IPO Lead Manager
Horizon Financial Pvt Ltd
