Tunwal E-Motors IPO

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 nameTunwal E-Motors Limited
SectorAutomotive
IndustryAutomotive
Company Websitehttps://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 date15 July 2024
IPO Closing18 July 2024
Basis of Allotment19 July 2024
Initiation Refund22 July 2024
Credit to Demat Account22 July 2024
Listing Date23 July 2024
(Cut-off time for UPI mandate confirmation – 5 PM on July 18, 2024)

Tunwal E-Motors IPO details

Issue typeFixed 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 size2000 Shares
Market Maker portion980,000 shares
Shareholding pre-issue41,451,080
Shareholding post-issue55,301,080
Listing ExchangeNSE SME

Tunwal E-Motors IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)12000₹118,000
Retail (Max)12000₹118,000
HNI (Min)24,000₹236,000

Tunwal E-Motors Offer Documents


Tunwal E-Motors IPO Reservation Details

Investor CategoryShares Offered
Anchor Investor Shares Offered
Market Maker Shares Offered980,000 (5.00%)
Other Shares Offered9,310,000 (47.50%)
Retail Shares Offered9,310,000 (47.50%)
Total Shares Offered19,600,000 (100%)

Tunwal E-Motors Financial Performance

 FY 2022FY 2023FY 2024
Revenue75.4676.50104.60
Expenses72.4271.6389.77
Net income2.343.7211.81
(Amount in ₹ Crores)

Tunwal E-Motors Valuations & Margins

FY 2022FY 2023FY 2024
EPS1.211.812.85
PE ratio20.70
RONW (%)55.1245.3257.53
NAV8.253.984.95
ROCE (%)27.1331.9759.38
EBITDA (%)5.748.6417.05
Debt/Equity3.202.301.00

Company Promoters

  • Jhumarmal Pannaram Tunwal
  • Amitkumar Pannaram Mali
  • Jhumarmal Pannaram Tunwal HUF

Promoter Holding

Pre Issue Share Holding97.04%
Post Issue Share Holding62.34%

Tunwal E-Motors IPO GMP Update

DateConsolidated IPO GMPKostakSubject to Sauda
22 July 20241013,000
20 July 20241213,500
19 July 20241213,500
18 July 20241215,000
17 July 20241520,000
16 July 20242028,000
15 July 20242537,000
12 July 20242535,000

Tunwal E-Motors IPO Subscription Update

CategorySubscription (times)
Other7.61
Retail16.64
Total12.31
Total Application : 77,458 (16.66 times)

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 Date23 July 2024
BSE Scrip Code
NSE SymbolTUNWAL
ISININE0OXV01027
Final Issue Price₹59 per share

Tunwal E-Motors IPO Listing Day Update

Listing Exchange
Final Issue Price
Open
Low
High
Last Trade

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

Leave a Comment

Your email address will not be published. Required fields are marked *