Tunwal E-Motors IPO will open for subscription from 15 July 2024. The company aims for an issue size of ₹115.64 Cr through this IPO.
Company Overview
Full name | Tunwal E-Motors Limited |
Sector | Automotive |
Industry | Automotive |
Company Website | https://tunwal.com/ |
About Company

Tunwal E-Motors has rapidly grown as a major electric vehicle player specializing in the design, development, manufacturing, and distribution of high-quality electric two-wheelers with a state-of-the-art manufacturing facility strategically located at Parsana, Rajasthan. Founded in 2018, the company is registered with the Bureau of Indian Standards and US SAE International has confirmed the company’s World Manufacturer Identifier. As of 31 March 2024, it had 64 permanent employees. The company trains its employees regularly to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.
The company has launched over 23 different models catering to various needs and segments in the Indian market. The company’s manufacturing process ensures that its electric bikes meet high-quality standards and safety regulations with a total annual production capacity of 41,000 units at its Parsana plant. It is present in 19 states through 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 Objectives of the Issue
- Funding of working capital requirements of the Company.
- Research & Development
- Pursuing Inorganic Growth
- General Corporate Expenses
Tunwal E-Motors IPO Timetable
IPO Opening date | 15 July 2024 |
IPO Closing | 18 July 2024 |
Basis of Allotment | 19 July 2024 |
Initiation Refund | 22 July 2024 |
Credit to Demat Account | 22 July 2024 |
Listing Date | 23 July 2024 |
Tunwal E-Motors IPO details
Issue type | Fixed Price Issue IPO |
IPO issue size | ₹115.64 Cr – 19,600,000 shares |
Fresh Issue | ₹81.72 Cr – 13,850,000 shares |
Offer for sale | ₹33.93 Cr – 5,750,000 shares |
Face value | ₹02 per share |
Offer Price | ₹59 per share |
Lot size | 2000 Shares |
Market Maker portion | 980,000 shares |
Shareholding pre-issue | 41,451,080 |
Shareholding post-issue | 55,301,080 |
Listing Exchange | NSE SME |
Tunwal E-Motors IPO Lot Size
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 2000 | ₹118,000 |
Retail (Max) | 1 | 2000 | ₹118,000 |
HNI (Min) | 2 | 4,000 | ₹236,000 |
Tunwal E-Motors Offer Documents
Tunwal E-Motors IPO Reservation Details
Investor Category | Shares Offered |
---|---|
Anchor Investor Shares Offered | – |
Market Maker Shares Offered | 980,000 (5.00%) |
Other Shares Offered | 9,310,000 (47.50%) |
Retail Shares Offered | 9,310,000 (47.50%) |
Total Shares Offered | 19,600,000 (100%) |
Tunwal E-Motors Financial Performance
FY 2022 | FY 2023 | FY 2024 | |
Revenue | 75.46 | 76.50 | 104.60 |
Expenses | 72.42 | 71.63 | 89.77 |
Net income | 2.34 | 3.72 | 11.81 |
Tunwal E-Motors Valuations & Margins
FY 2022 | FY 2023 | FY 2024 | |
EPS | 1.21 | 1.81 | 2.85 |
PE ratio | – | – | 20.70 |
RONW (%) | 55.12 | 45.32 | 57.53 |
NAV | 8.25 | 3.98 | 4.95 |
ROCE (%) | 27.13 | 31.97 | 59.38 |
EBITDA (%) | 5.74 | 8.64 | 17.05 |
Debt/Equity | 3.20 | 2.30 | 1.00 |
Company Promoters
- Jhumarmal Pannaram Tunwal
- Amitkumar Pannaram Mali
- Jhumarmal Pannaram Tunwal HUF
Promoter Holding
Pre Issue Share Holding | 97.04% |
Post Issue Share Holding | 62.34% |
Tunwal E-Motors IPO GMP Update
Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
22 July 2024 | 10 | – | 13,000 |
20 July 2024 | 12 | – | 13,500 |
19 July 2024 | 12 | – | 13,500 |
18 July 2024 | 12 | – | 15,000 |
17 July 2024 | 15 | – | 20,000 |
16 July 2024 | 20 | – | 28,000 |
15 July 2024 | 25 | – | 37,000 |
12 July 2024 | 25 | – | 35,000 |
Tunwal E-Motors IPO Subscription Update
Category | Subscription (times) |
---|---|
Other | 7.61 |
Retail | 16.64 |
Total | 12.31 |
Tunwal E-Motors IPO Allotment Status
Tunwal E-Motors IPO allotment status is now available on Skyline Financial Services’ website. Click on this link to get allotment status.
Tunwal E-Motors IPO Listing Details
Listing Date | 23 July 2024 |
BSE Scrip Code | – |
NSE Symbol | TUNWAL |
ISIN | INE0OXV01027 |
Final Issue Price | ₹59 per share |
Tunwal E-Motors IPO Listing Day Update
Listing Exchange | |
Final Issue Price | |
Open | |
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Tunwal E-Motors IPO Lead Manager(s)
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road, Main Building, 2nd Floor,
Kolkata- 700 001, West Bengal, India
Phone: +91 33 4600 0607
Email: akash.das@horizon.net.co
Website: www.horizonmanagement.in
Tunwal E-Motors Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Tunwal E-Motors Contact Details
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, 411030 Maharashtra
Phone: +91-20-24336001
E-mail: cs@tunwal.com
Website: www.tunwal.com
Tunwal E-Motors IPO FAQs
What is the Tunwal E-Motors offer size?
Tunwal E-Motors offer size is ₹ 115.65 crores.
What is the Tunwal E-Motors offer price band?
Tunwal E-Motors public offer price is ₹ 59 per share.
What is the lot size of the Tunwal E-Motors Offer?
Tunwal E-Motors offer a lot size is 2,000 shares.
What is Tunwal E-Motors Offer GMP today?
Tunwal E-Motors IPO GMP today is ₹ 10 per share.
What is the Tunwal E-Motors kostak rate today?
Tunwal E-Motors kostak rate today is ₹ NA per application.
What is Tunwal E-Motors Subject to the Sauda rate today?
Tunwal E-Motors is Subject to the Sauda rate today is ₹ 13,000 per application.
Final thoughts
Tunwal E-Motors 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