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Tunwal E-Motors IPO is a fixed price issue of Rs 115.64 crores. The issue is a combination of fresh issue of 138.5 lakh shares aggregating to Rs 81.72 crores and offer for sale of 57.5 lakh shares aggregating to Rs 33.93 crores.
Tunwal E-Motors IPO bidding started from July 15, 2024 and ended on July 18, 2024. The allotment for Tunwal E-Motors IPO was finalized on Friday, July 19, 2024. The shares got listed on NSE SME on July 23, 2024.
Tunwal E-Motors IPO price is ₹59 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹118,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹236,000.
Horizon Management Private Limited is the book running lead manager of the Tunwal E-Motors IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Tunwal E-Motors IPO are Nikunj Stock Brokers and Giriraj Stock Broking.
Refer to Tunwal E-Motors IPO RHP for detailed information.
| IPO Date | July 15, 2024 to July 18, 2024 |
| Listing Date | July 23, 2024 |
| Face Value | ₹2 per share |
| Price | ₹59 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 19,600,000 shares (aggregating up to ₹115.64 Cr) |
| Fresh Issue | 13,850,000 shares (aggregating up to ₹81.72 Cr) |
| Offer for Sale | 5,750,000 shares of ₹2 (aggregating up to ₹33.93 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 41,451,080 |
| Share holding post issue | 55,301,080 |
| Market Maker portion | 980,000 shares Nikunj Stock Brokers Giriraj Stock Broking |
Tunwal E-Motors IPO offers 19,600,000 shares. 9,310,000 (47.50%) to NII, 9,310,000 (47.50%) to RII.
| 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 IPO opens on July 15, 2024, and closes on July 18, 2024.
| IPO Open Date | Monday, July 15, 2024 |
| IPO Close Date | Thursday, July 18, 2024 |
| Basis of Allotment | Friday, July 19, 2024 |
| Initiation of Refunds | Monday, July 22, 2024 |
| Credit of Shares to Demat | Monday, July 22, 2024 |
| Listing Date | Tuesday, July 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 18, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below 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 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
| Lot Size Calculator | |||
The promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUF
| Share Holding Pre Issue | 97.04% |
| Share Holding Post Issue | 62.34% |
Incorporated in December 2018, 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.
The company 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 Limited's revenue increased by 37.85% and profit after tax (PAT) rose by 217.11% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| 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 |
| Net Worth | 2,053.08 | 821.91 | 424.43 |
| Reserves and Surplus | 1,224.06 | 409.40 | 321.55 |
| Amount in ₹ Lakhs | |||
The market capitalization of Tunwal E-Motors IPO is Rs 326.28 Cr.
KPI as of March 31, 2024.
| 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 |
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda]
No doubt, that future lies for EV products and many corporate have dropped their hat in the fray for the same. Amidst such a scenario, we have some odd and emerging players like TEML which has its target focused on rural marketing. The company marked growth in its top and bottom lines. Based on FY24 super earnings, the issue appears aggressively priced. Well-informed investors may park funds for the medium to long term. (May Apply).
Read detail review...The Tunwal E-Motors IPO is subscribed 12.31 times on July 18, 2024 6:19:58 PM. The public issue subscribed 16.64 times in the retail category, times in the QIB category, and 7.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 7.61 |
| Retail | 16.64 |
| Total | 12.31 |
Total Application : 77,458 (16.66 times)
| Listing Date | July 23, 2024 |
| BSE Script Code | |
| NSE Symbol | TUNWAL |
| ISIN | INE0OXV01027 |
| Final Issue Price | ₹59 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹59.00 |
| ₹64.00 |
| ₹60.80 |
| ₹64.00 |
| ₹60.80 |
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/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
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Tunwal E-Motors IPO is a SME IPO of 19,600,000 equity shares of the face value of ₹2 aggregating up to ₹115.64 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 2000 Shares.
The IPO opens on July 15, 2024, and closes on July 18, 2024.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Tunwal E-Motors IPO using UPI as a payment gateway. Zerodha customers can apply in Tunwal E-Motors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tunwal E-Motors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tunwal E-Motors IPO opens on July 15, 2024 and closes on July 18, 2024.
Tunwal E-Motors IPO lot size is 2000 Shares, and the minimum amount required is ₹118,000.
You can apply in Tunwal E-Motors IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Tunwal E-Motors IPO will be done on Friday, July 19, 2024, and the allotted shares will be credited to your demat account by Monday, July 22, 2024. Check the Tunwal E-Motors IPO allotment status.
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