Tunwal E-Motors IPO: All You Need To Know Before Applying

• Tunwal E-Motors IPO is a book-built issue of Rs 115.64 crores.
• This upcoming IPO bidding opens on July 15 and closes on July 18, 2024.
• Tunwal E-Motors SME IPO price is set at Rs 59 per share.
• The Minimum investment required Rs 1,18,000.

Tunwal E-Motors IPO: Synopsis

Tunwal E- Motors IPO is open for subscription starting Monday, July 15, 2024, and closing on Thursday, July 18, 2024. This upcoming IPO's price is set as Rs 59 per share. The minimum lot size set for the retail category is 2000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 4000 shares. 

The minimum investment required for retail category investors is Rs 1,18,000 ( 59 x 2000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,36,000 (59 x 4000 shares). 

Tunwal E- Motors IPO is a fixed price issue of Rs 115.64 crores. This upcoming IPO is a combination of fresh issue and offer-for-sale. The fresh issue is of 138.5 lakh equity shares amounting to Rs 81.72 crores. The OFS is of 57.5 lakh equity shares amounting to Rs 33.93 crores. 

The allotment for this new IPO is expected to be finalised on Friday, July 19, 2024. Tunwal E- Motors IPO will be listed on NSE SME on Tuesday, July 23, 2024. 

Horizon Financial Private Limited is the book-running lead manager, and Skyline Financial Services Private Limited is the registrar. Nikunj Stock Brokers and Giriraj Stock Broking are the market makers for this IPO.

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Tunwal E-Motors IPO: About Company 

Tunwal E- Motors IPO was incorporated in 2018, is an electric vehicle manufacturing company that specialises in designing, developing, manufacturing, and distributing high-quality electric two-wheelers. 

Tunwal E-Motors has a network of around 256 dealers in India. The company requires them to provide after-sales services such as routine maintenance, battery management, diagnostics, safety checks, and component replacement to customers. 

The company's manufacturing unit is located in Palsana, Sikar spread across an area of 8000 square metres. The company has introduced over 23 different models in the local market to cater to various needs.

The company has a presence in 19 states through a network of more than 256 dealers.Tunwal E-Motors Ltd manufactures electric bikes at its Palsana plant and can 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.

Objectives of Tunwal E-Motors IPO

The funds received from this IPO will be used to meet the company's day-to-day capital requirements, research and development, organic growth, and general corporate expenses.

Tunwal E-Motors IPO: Other Important Details

Time-Table of Tunwal E-Motors IPO

Tunwal E-Motors IPO: Financial Metrics (Amt in Rs Lakhs)

Tunwal E-Motors posted revenue of Rs 10,553.69 lakhs and net profit of Rs 1,181.17 lakhs for the period ending on 31 Mar 2024. The company’s revenue increased by 37.85% and PAT increased by 217.11% between the financial year ending with 31 Mar 2024 and 31 Mar 2023.

Minimum Investment: Lot Size Details 

Promoters of Tunwal E-Motors Limited and Their Holdings

The promoters of Tunwal E-Motors company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUF. The promoters shareholdings before IPO is 97.04% but after the IPO the shareholdings will be 62.34%.

Tunwal E-Motors: Strength of Company

1. Tunwal E-Motors are in the business of Electric vehicle (EV) manufacturing. 

2. They introduced over 23 different EV models in the local market.

3. Tunwal E-Motors Limited manufactures electric bikes at its plant in Palsana and has the capacity to produce up to 41000 units.

FAQs

1. What are the details of the Tunwal E-Motors IPO?

Tunwal E-Motors IPO is a fixed price issue of Rs 115.64 crores. This upcoming IPO is a combination of fresh issue and offer-for-sale. The fresh issue is of 138.5 lakh equity shares amounting to Rs 81.72 crores. The OFS is of 57.5 lakh equity shares amounting to Rs 33.93 crores. 

2. Who are the lead managers for the Tunwal E-Motors IPO?

Horizon Financial Private Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Bigshare Services in this IPO?

Skyline Financial Services Private Limited is the registrar for Tunwal E-Motors Limited, handling the IPO's administrative aspects.

4. How can I apply for the Tunwal E-Motors IPO?

The public subscription of this new IPO will open on July 15, 2024. Click here to initiate the application process.

5. How will the net proceeds from the IPO be utilised?

The funds received from this IPO will be used to meet the company's day-to-day capital requirements, research and development, organic growth, and general corporate expenses.

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the Tunwal E-Motors Limited IPO by visiting here. For further updates follow Bigul. 

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