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Tunwal E-Motors IPO

Tunwal E-Motors IPO

  • Status: Closed
  • RHP:
  • ₹ 118,000 / 2000 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    23 Jul 2024

  • Listing Price

    ₹ 64.00

  • Listing Change

    8.47%

  • Last Traded Price

    ₹ 50.85

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

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IPO Timeline

Tunwal E-Motors IPO Subscription Status

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

Profit and Loss

Balance Sheet

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.

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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