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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 ₹59.00 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). The minimum lot size investment for 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 Date | July 15, 2024 to July 18, 2024 |
| Listing Date | July 23, 2024 |
| Face Value | ₹2 per share |
| Issue Price Band | |
| Issue Price Final | ₹59 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,96,00,000 shares (aggregating up to ₹115.64 Cr) |
| Reserved for Market Maker | 9,80,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹5.78 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 1,28,70,000 shares (aggregating up to ₹75.93 Cr) |
| Offer for Sale | 57,50,000 shares of ₹2 (aggregating up to ₹33.93 Cr) |
| Net Offered to Public | 1,86,20,000 shares (aggregating up to ₹109.86 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 4,14,51,080 shares |
| Share Holding Post Issue | 5,53,01,080 shares |
Tunwal E-Motors IPO offers total 1,96,00,000 shares. Out of which 93,10,000 (47.50%) allocated to NII, 93,10,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 9,80,000 (5.00%) |
| NII (HNI) Shares Offered | 93,10,000 (47.50%) |
| Retail Shares Offered | 93,10,000 (47.50%) |
| Total Shares Offered | 1,96,00,000 (100.00%) |
Tunwal E-Motors IPO opens on July 15, 2024, and closes on July 18, 2024.
| IPO Open Date | Mon, Jul 15, 2024 |
| IPO Close Date | Thu, Jul 18, 2024 |
| Tentative Allotment | Fri, Jul 19, 2024 |
| Initiation of Refunds | Mon, Jul 22, 2024 |
| Credit of Shares to Demat | Mon, Jul 22, 2024 |
| Tentative Listing Date | Tue, Jul 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jul 18, 2024 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Tunwal E-Motors Limited's revenue increased by 37.85% and profit after tax (PAT) rose by 217.11% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 7,582.97 | 5,694.49 | 5,037.44 |
| Total Income | 10,553.69 | 7,655.74 | 7,566.42 |
| Profit After Tax | 1,181.17 | 372.48 | 233.94 |
| Net Worth | 2,053.08 | 821.91 | 424.43 |
| Reserves and Surplus | 1,224.06 | 409.40 | 321.55 |
| Amount in ₹ Lakhs | |||
The market capitalization of Tunwal E-Motors IPO is ₹326.28 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 2.85 | 2.14 |
| P/E (x) | 20.71 | 27.62 |
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] <p>No doubt, that future lies for EV products and many corporate have dropped their hat in the fray for the same. Amidst such a scenario, we have some odd and emerging players like TEML which has its target focused on rural marketing. The company marked growth in its top and bottom lines. Based on FY24 super earnings, the issue appears aggressively priced. Well-informed investors may park funds for the medium to long term. (May Apply).</p> Read detail review...
| Listing Date | July 23, 2024 |
| BSE Script Code | |
| NSE Symbol | TUNWAL |
| ISIN | INE0OXV01027 |
| Final Issue Price | ₹59 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹59.00 |
| Open | ₹64.00 |
| Low | ₹60.80 |
| High | ₹64.00 |
| Last Trade | ₹60.80 |
Tunwal E-Motors Ltd.
Rama Icon Commercial Building, Office No 501,
S.No 24/2, C.T.S, No. 2164,
Plot No. 31/11 Sadashiv Peth,
Pune, Maharashtra, 411030
Phone: +91-20-24336001
Email: cs@tunwal.com
Website: https://tunwal.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Tunwal E-Motors IPO is a SME IPO of 1,96,00,000 equity shares of the face value of ₹2 aggregating up to ₹115.64 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 2000.
The IPO opens on July 15, 2024, and closes on July 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 July 15, 2024 and closes on July 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 Monday, July 22, 2024. Check the Tunwal E-Motors IPO allotment status.
The Tunwal E-Motors IPO listing date is on Tuesday, July 23, 2024.
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