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. Tunwal E-Motors 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 IPO – Details
| IPO Opening Date | 15 July 2024 |
| IPO Closing Date | 18 July 2024 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | Total Issue Size: 1,96,00,000 Shares Worth ₹115.64 Crore Fresh Issue: 1,38,50,000 Shares Worth ₹81.72 Crore Offer for Sale: 57,50,000 Shares Worth ₹33.93 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹59 |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Skyline Financial Services Private Ltd |
| Retail Shares Offered | 50% |
| Other Shares Offered | 50% |
Tunwal E-Motors IPO – Date Schedule
| IPO Open Date | 15 July 2024 |
| IPO Close Date | 18 July 2024 |
| Credit of Shares to Demat Account | 19 July 2024 |
| Initiation of Refund | 22 July 2024 |
| Credit of Shares to Demat Account | 22 July 2024 |
| IPO Listing Date | 23 July 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 18, 2024 |
Tunwal E-Motors IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹1,18,000 |
| Retail (Max) | 1 | 2000 | ₹1,18,000 |
| HNI (Min) | 2 | 4000 | ₹2,36,000 |
Competitive Strengths
- Pure EV player with an admirable position in the fast-growing Indian E2W market.
- Recognized brand in the eyes of the distributors and consumers.
- Present in 19 states through a distribution channel.
- Selling a wide variety of products which are well accepted in the market.
- Simple and innovative designs.
- Founder led company supported by a highly experienced and professional leadership team.
- Manufacturing both high speed and low speed two-wheeler vehicles.
- Cost efficient sourcing and locational advantage.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2022 | 75.66 | 72.42 | 2.33 |
| 31 March 2023 | 76.55 | 71.63 | 3.72 |
| 31 March 2024 | 105.53 | 89.77 | 11.81 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 57.53% |
| ROCE | 59.38% |
| Debt/Equity | 1 |
| RoNW | 57.53% |
| P/BV | 11.92 |
| PAT Margin (%) | 11.29 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.85 | 2.14 |
| P/E (x) | 20.71 | 27.62 |
Object Of The Issue
- Funding of working capital requirements of the Company.
- Research & Development.
- Pursuing Inorganic Growth.
- General Corporate Expenses.
Tunwal E-Motors IPO Promoter Holding
| Pre Issue Share Holding | 97.04% |
| Post Issue Share Holding | 62.34% |
Tunwal E-Motors IPO Prospectus
- Tunwal E-Motors IPO DRHP
- Tunwal E-Motors IPO RHP
Company Contact Information
| 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, 4110 Phone: +91-20-24336001 Email: cs@tunwal.com Website: https://tunwal.com/ |
Tunwal E-Motors IPO Registrar
| Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
Tunwal E-Motors IPO Lead Manager(s)
| 1. Horizon Financial Pvt Ltd |
Tunwal E-Motors IPO FAQs
| What is Tunwal E-Motors IPO? Tunwal E-Motors IPO is a SME IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE SME. |
| When Tunwal E-Motors IPO will open? The IPO is to open on 15 July 2024 for Retail and Other Investors. |
| What is Tunwal E-Motors IPO Investors Portion? The investors’ portion for Retail – 50% and Others – 50%. |
| How to Apply the Tunwal E-Motors IPO? You can apply Tunwal E-Motors IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Tunwal E-Motors IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Tunwal E-Motors IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Tunwal E-Motors IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Tunwal E-Motors IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Tunwal E-Motors IPO Size? Tunwal E-Motors IPO size is ₹115.64 Crore. |
| What is Tunwal E-Motors IPO Price Band? Tunwal E-Motors IPO Price Band is ₹59. |
| What is Tunwal E-Motors IPO Minimum and Maximum Lot Size for retail? The minimum bid is 2000 Shares with ₹1,18,000 amount while the maximum bid is 2000 Shares with ₹1,18,000. |
| What is the Tunwal E-Motors IPO Allotment Date? Tunwal E-Motors IPO allotment date is 19 July 2024. |
| What is the Tunwal E-Motors IPO Listing Date? Tunwal E-Motors IPO listing date is 23 July 2024. The IPO is to be listed on NSE SME. |
