Tunwal E-Motors Limited IPO
NSE SMEListed On: Jul 23, 2024 at ₹ 64.0
₹ 236000 /4000 Shares
*Min Investment
15 Jul, 2024
Open Date18 Jul, 2024
Close Date19 Jul, 2024
Allotment Date23 Jul, 2024
Listing DateTunwal E-Motors Limited IPO Issue Details
- Issue Price ₹59 per equity share
- Face Value ₹2 Per Equity Share
- Total Issue Size 1,96,00,000 shares(aggregating up to ₹115.64 crore)
- Fresh Share 1,38,50,000 shares(aggregating up to ₹81.72 crore)
- Offer For Sale 57,50,000 shares(aggregating up to ₹33.93 crore)
- Listing at NSE SME
- List Price 64.0
- Listing Date 2024-07-23
- Lead Manager Horizon Financial Pvt Ltd
- Registrar Skyline Financial Services Private Ltd
Market Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2000 | ₹1,18,000 |
| Retail(max) | 1 | 2000 | ₹1,18,000 |
| NII (min) | 2 | 4000 | ₹2,36,000 |
Tunwal E-Motors Limited IPO Reservation
Tunwal E-Motors Limited IPO offers total 1,96,00,000 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,93,10,000 (47.5%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | NA (NA%) | |
| Market Maker Shares Offered | 9,80,000 (5%) | |
| Retail Shares Offered | 93,10,000 (47.5%) | |
| Total Shares Offered | 1,96,00,000 (100%) |
Tunwal E-Motors Limited IPO Details
Tunwal E-Motors Limited IPO is an SME IPO, priced at ₹59 per equity share. The equity shares have a face value of ₹2 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 1,96,00,000 equity shares, aggregating up to ₹115.64 crores..
The IPO bidding window is open from Jul 15, 2024 to Jul 18, 2024. The allotment is expected to be finalized on Jul 19, 2024, and the tentative listing date is Jul 23, 2024.
The minimum lot size for Retail investors is 2000 shares, with a minimum investment of ₹1,18,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,36,000.
Horizon Financial Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Skyline Financial Services Private Ltd, and Nikunj Stock Brokers Limited Giriraj Stock Broking Private Limited will act as the market maker for this issue.
Tunwal E-Motors Limited IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 9,310,000 | 9,310,000 | 18,620,000 |
Day 1 15-07-24 06:00 PM | 1.04 x | 2.96 x | 2.00 x |
Day 2 16-07-24 06:00 PM | 1.41 x | 4.95 x | 3.18 x |
Day 3 18-07-24 06:00 PM | 7.71 x | 16.64 x | 12.18 x |
Tunwal E-Motors Limited Valuations
Tunwal E-Motors Limited Company Financials
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 7,582.97 | 5,694.49 | 5,037.44 |
| Revenue | 10,553.69 | 7,655.74 | 7,566.42 |
| Profit After Tax | 1,181.17 | 372.48 | 233.94 |
About Tunwal E-Motors Limited Company
Incepted in December 2018, Tunwal E-Motors Limited is an electric vehicle manufacturing company that specializes in designing, developing, manufacturing, and distributing high-quality electric two-wheelers.
The company has launched more than 23 models in the local market to meet diverse requirements.
The company is present in 19 states through its dealership network of more than 256 dealers.The company has around 256 dealers across India. At the time of appointment, it asks a dealer to offer 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 covering 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.
The company had 64 permanent employees as of March 31, 2024. The company regularly trains its employees to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.
Tunwal E-Motors Limited - Promoter(s)
Jhumarmal Pannaram Tunwal
Amitkumar Pannaram Mali
Jhumarmal Pannaram Tunwal HUF
Pre Issue Share Holding : 97.04%
Post Issue Share Holding : 62.34%
Tunwal E-Motors Limited IPO - Issue Objectives
Funding of working capital requirements of the Company.
Research & Development
Pursuing Inorganic Growth
General Corporate Expenses
Tunwal E-Motors Limited IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Tunwal E-Motors Limited | 2.85 | 2.85 | N/A | 20.7 | 57.53 | N/A | Standalone |
| Wardwizard Innovations & Mobility Limited | 0.52 | 0.52 | N/A | 117.96 | 13.27 | N/A | Standalone |
| TVS Motors | 35.5 | 35.5 | N/A | 66.33 | 23.68 | N/A | Standalone |
Notes:
- EPS is taken from audited financial statements.
- P/E Ratio has been computed based on the closing market price of equity shares on BSE on July 1, 2024, divided by the Basic EPS as at March 31, 2024.
- Return on Net Worth (%) = Profit for the year ended March 31, 2024 divided by Total Equity of the Company as on March 31, 2024.
- NAV is computed as the Total Equity of the Company as on March 31, 2023 divided by the outstanding number of equity shares as on March 31, 2024.
Contact Details
Tunwal E-Motors Limited
Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S, No. 2164, lot No. 31/11 Sadashiv Peth, Pune
+91-20-24336001
Registrar Contact Details
Skyline Financial Services Private Ltd
02228511022
Tunwal E-Motors Limited IPO - FAQs
Ans. Tunwal E-Motors Limited IPO is a SME IPO. The issue is priced at ₹59 per equity share. The minimum order quantity is 2000 Shares. The IPO opens on Jul 15, 2024, and closes on Jul 18, 2024. Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Ans. The Tunwal E-Motors Limited IPO opens on Jul 15, 2024 and closes on Jul 18, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of Tunwal E-Motors Limited IPO is Total ₹115.64 Cr : #Fresh Issue : 13,850,000 shares(aggregating up to ₹81.72 Cr) + #OFS : 5,750,000 shares of ₹2(aggregating up to ₹33.93 Cr).
Ans. The Tunwal E-Motors Limited IPO price band is set between ₹59 per equity share.
Ans. To apply for Tunwal E-Motors Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Tunwal E-Motors Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Tunwal E-Motors Limited IPO is Jul 19, 2024.
Ans. The Tunwal E-Motors Limited IPO will be listed on Jul 23, 2024.
Ans. Follow the steps to check the Tunwal E-Motors Limited IPO allotment status online.
