BikeWo GreenTech IPO will open for subscription from 20 September 2024. The company aims for an issue size of ₹24.09 Cr through this IPO.
Company Overview
| Full name | BikeWo GreenTech Limited |
| Sector | Automobile & Ancillaries |
| Industry | Automobiles – Dealers & Distributors |
| Company Website | https://bikewo.in/ |
About Company
The company is an electric two-wheeler retailer in India with dealerships for brands such as Ola Electric, Quantum Escooters, Bounce, and GT-Force among others. After commencing operations in 2016, the company has been engaged in the business of buying and selling used four-wheelers from authorized dealers. It diversified into marketing and selling of electric vehicles in 2022 and appointed ten dealers during the first quarter of FY 2022, for opening and operating stores in Andhra Pradesh and Telangana.
Its business model focuses on creating a dealership chain across Tier-II and Tier-III cities for setting up retail spaces which ensures high visibility and easy accessibility to customers. The company plans to continue to deepen its store network in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat; and plans to gradually expand its network in Rajasthan, Kerala, Karnataka, and West Bengal. The company offers three types of dealerships; (i) State Dealership; (ii) Diamond Dealership; and (iii) Platinum Dealership.
The Objectives of the Issue
- Funding the purchase of electric two-wheeler vehicles for selling and supplying the same to our new and existing dealers;
- Funding capital expenditure proposed to be incurred towards setting up eleven dealership stores in various states in India;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
- General Corporate Purposes.
BikeWo GreenTech IPO Timetable
| IPO Opening date | 20 September 2024 |
| IPO Closing | 24 September 2024 |
| Basis of Allotment | 25 September 2024 |
| Initiation Refund | 26 September 2024 |
| Credit to Demat Account | 26 September 2024 |
| Listing Date | 27 September 2024 |
BikeWo GreenTech IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹24.09 Cr – 3,886,000 shares |
| Fresh Issue | ₹24.09 Cr – 3,886,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹59 to ₹62 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 196,000 shares |
| Shareholding pre-issue | 9,157,250 |
| Shareholding post-issue | 13,043,250 |
| Listing Exchange | NSE SME |
BikeWo GreenTech IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4,000 | ₹248,000 |
BikeWo GreenTech Offer Documents
BikeWo GreenTech IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 1,96,000 (5.04%) |
| QIB Shares Offered | 1,86,000 (4.79%) |
| NII (HNI) Shares Offered | 17,52,000 (45.08%) |
| Retail Shares Offered | 17,52,000 (45.08%) |
| Total Shares Offered | 38,86,000 (100%) |
BikeWo GreenTech Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 13.81 | 20.57 | 24.99 |
| Expenses | 13.70 | 20.58 | 22.81 |
| Net income | 0.15 | 0.10 | 1.67 |
BikeWo GreenTech Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 0.30 | 0.19 | 2.51 |
| PE ratio | – | – | 23.51 – 24.70 |
| RONW (%) | 2.13 | 1.35 | 13.94 |
| NAV | 34.96 | 35.44 | 18.31 |
| ROCE (%) | 5.77 | 2.64 | 10.87 |
| EBITDA (%) | 7.27 | 3.26 | 11.30 |
Company Promoters
- promoters are Katepalli Manideep
- Satyapoorna Chander Yalamanchili
- N Vidhya Sagar Reddy
- Manvi Talwar.
Promoter Holding
| Pre Issue Share Holding | 89.00% |
| Post Issue Share Holding | 62.48% |
BikeWo GreenTech Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 25 September 2024 | 20 | – | 30,000 |
| 24 September 2024 | 15 | – | 17,500 |
| 23 September 2024 | 10 | – | 12,000 |
| 21 September 2024 | 10 | – | 12,000 |
| 20 September 2024 | 10 | – | 12,000 |
| 19 September 2024 | 10 | – | 12,000 |
| 18 September 2024 | 10 | – | 12,000 |
| 17 September 2024 | 10 | – | 8,500 |
BikeWo GreenTech IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,86,000 | 17,52,000 | 17,52,000 | 36,90,000 |
| 24 Sep 2024 | 43.03 | 22.59 | 61.04 | 41.88 |
| 23 Sep 2024 | 1.00 | 2.82 | 17.15 | 9.53 |
| 20 Sep 2024 | 0.00 | 0.33 | 2.22 | 1.21 |
BikeWo GreenTech IPO Allotment Status
BikeWo Green Tech IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
BikeWo GreenTech IPO Listing Details
| Listing Date | 27 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
| High | |
| Last Trade |
BikeWo GreenTech IPO Lead Manager(s)
KHANDWALA SECURITIES LIMITED
Vikas Building, Ground Floor, Green Street,
Fort, Mumbai 400 023, Maharashtra, India
Phone: +91 22 4076 7373
Email: rinav@kslindia.com/ipo@kslindia.com
Website: www.kslindia.com
BikeWo GreenTech Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road, Andheri
(East), Mumbai – 400 093, Maharashtra
Phone: 022 – 6263 8200
E-mail: ipo@bigshareonline.com
Website: www.bigshareonline.com
BikeWo GreenTech Contact Details
BIKEWO GREEN TECH LIMITED
Plot No. 502B, Amara Jyothi,
Road No. 31, Jubilee Hills,
Hyderabad – 500 033, Telangana
Phone: +91 – 812 100 7731
E-mail: info@bikewo.in
Website: www.info@bikewo.in
BikeWo GreenTech IPO FAQs
What is BikeWo Green Tech offer size?
BikeWo Green Tech offer size is ₹ 22.93 – 24.09 crores.
What is BikeWo Green Tech offer price band?
BikeWo Green Tech public offer price is ₹ 59 – 62 per share.
What is the lot size of BikeWo Green Tech IPO?
BikeWo Green Tech offer lot size is 2,000 shares.
What is BikeWo Green Tech IPO GMP today?
BikeWo Green Tech IPO GMP today is ₹ 20 per share.
What is BikeWo Green Tech kostak rate today?
BikeWo Green Tech kostak rate today is ₹ NA per application.
What is BikeWo Green Tech IPO Subject to Sauda rate today?
BikeWo Green Tech’s Subject to Sauda rate today is ₹ 30,000 per application.
Final thoughts
BikeWo GreenTech IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
