Fixed Price IPO | ₹116 Cr | Listed at NSE SME | Mon, Jul 15, 2024 - Thu, Jul 18, 2024
Tunwal E-Motors IPO is a fixed price issue of ₹115.64 crores. The issue is a combination of fresh issue of 1.39 crore shares aggregating to ₹81.72 crores and offer for sale of 0.58 crore shares aggregating to ₹33.93 crores.
Tunwal E-Motors IPO bidding started from Jul 15, 2024 and ended on Jul 18, 2024. The allotment for Tunwal E-Motors IPO was finalized on Jul 19, 2024. The shares got listed on NSE SME on Jul 23, 2024.
Tunwal E-Motors IPO price is ₹59 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,18,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,36,000.
Horizon Management Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company areGiriraj Stock Broking Pvt.Ltd., Nikunj Stock Brokers Ltd..
Refer to Tunwal E-Motors IPO RHP for detailed Information.
IPO Open
Mon, Jul 15, 2024
IPO Close
Thu, Jul 18, 2024
Issue Price
₹59 per share
Market Cap (Pre-IPO)
₹326.28 Cr
| IPO Date | 15 to 18 Jul, 2024 |
| Listed on | Tue, Jul 23, 2024 |
| Face Value | ₹2 per share |
| Issue Price | ₹59 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 1,96,00,000 shares (agg. up to ₹116 Cr) |
| Reserved for Market Maker | 9,80,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹6 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 1,28,70,000 shares (agg. up to ₹76 Cr) |
| Offer for Sale | 57,50,000 shares of ₹2 (agg. up to ₹34 Cr) |
| Net Offered to Public | 1,86,20,000 shares (agg. up to ₹110 Cr) |
| Share Holding Pre Issue | 4,14,51,080 shares |
| Share Holding Post Issue | 5,53,01,080 shares |
| NSE Symbol | TUNWAL |
| ISIN | INE0OXV01027 |
Tunwal E-Motors IPO comprises a total issue size of 1,96,00,000 shares. The net offer to the public is 1,86,20,000 shares, after excluding 9,80,000 shares allotted on a firm basis. Of the Net offer 93,10,000 (50.00%) allocated to NII 93,10,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 93,10,000 | 50.00% | 47.50% |
| Retail Shares Offered | 93,10,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 9,80,000 | 5.00% | |
| Total Shares Offered | 1,96,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,18,000 |
| Retail (Max) | 1 | 2,000 | ₹1,18,000 |
| HNI (Min) | 2 | 4,000 | ₹2,36,000 |
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 75.83 | 56.94 | 50.37 |
| Total Income | 105.54 | 76.56 | 75.66 |
| Profit After Tax | 11.81 | 3.72 | 2.34 |
| NET Worth | 20.53 | 8.22 | 4.24 |
| Reserves and Surplus | 12.24 | 4.09 | 3.22 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of working capital requirements of the Company. | 35.00 |
| 2 | Research & Development | 5.00 |
| 3 | Pursuing Inorganic Growth | 5.00 |
| 4 | General Corporate Expenses | 20.41 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 57.53% |
| ROCE | 59.38% |
| Debt/Equity | 1.00 |
| RoNW | 57.53% |
| PAT Margin | 11.29% |
| Price to Book Value | 11.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.85 | 2.14 |
| P/E (x) | 20.71 | 27.62 |
| Promoter Holding | 97.04% | 62.34% |
| Market Cap | ₹326.28 Cr. |
The Tunwal E-Motors IPO is subscribed 12.31 times on July 18, 2024 6:19:58 PM (Day 3). The public issue subscribed 16.64 times in the retail category, [.] times in the QIB category, and 7.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 7.61 | 93,10,000 | 7,08,26,000 |
| Retail | 16.64 | 93,10,000 | 15,49,16,000 |
| Total | 12.31 | 1,86,20,000 | 22,92,36,000 |
Total Application : 77,458
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees, underwriting fees and payment to other Intermediaries such as Legal Advisors to the IPO, Advisors to the company Registrars and other out of pocket expenses. | 14.53 |
| 2 | Marketing and Selling Commission and expenses | 0.10 |
| 3 | Advertising and marketing expenses | 2.00 |
| 4 | Printing and distribution of issue stationery | 0.02 |
| 5 | Others - Listing fees | 0.01 |
| 6 | Others - NSE processing fees | 0.00 |
| 7 | Others - Other regulatory expenses | 0.01 |
| 8 | Others - Miscellaneous | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹59.00 |
| Open | ₹64.00 |
| Low | ₹60.80 |
| High | ₹64.00 |
| Last Trade | ₹60.80 |
Lead Manager Reports
Tunwal E-Motors IPO is a SME IPO of 1,96,00,000 equity shares of the face value of ₹2 aggregating up to ₹116 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Jul 15, 2024, and closes on Thu, Jul 18, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Tunwal E-Motors IPO using UPI as a payment gateway. Zerodha customers can apply in Tunwal E-Motors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tunwal E-Motors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tunwal E-Motors IPO opens on Mon, Jul 15, 2024 and closes on Thu, Jul 18, 2024.
Tunwal E-Motors IPO lot size is 2000, and the minimum amount required for application is ₹1,18,000.
You can apply in Tunwal E-Motors IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tunwal E-Motors IPO will be done on Friday, July 19, 2024, and the allotted shares will be credited to your demat account by Mon, Jul 22, 2024. Check the Tunwal E-Motors IPO allotment status.
The Tunwal E-Motors IPO listing date is on Tue, Jul 23, 2024.
