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Tunwal E-Motors Limited IPO (Tunwal E-Motors IPO) Detail

July 15, 2024 - July 18, 2024

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. Tunwal E-Motors IPO will list on NSE SME with tentative listing date fixed as Tuesday, 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.

Tunwal E-Motors IPO Details

IPO Date July 15, 2024 to July 18, 2024
Listing Date [.]
Face Value ₹2 per share
Price ₹59 per share
Lot Size 2000 Shares
Total Issue Size19,600,000 shares
(aggregating up to ₹115.64 Cr)
Fresh Issue13,850,000 shares
(aggregating up to ₹81.72 Cr)
Offer for Sale5,750,000 shares of ₹2
(aggregating up to ₹33.93 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Share holding pre issue41,451,080
Share holding post issue55,301,080
Market Maker portion980,000 shares
Nikunj Stock Brokers
Giriraj Stock Broking

Tunwal E-Motors IPO Reservation

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 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 IPO Timeline (Tentative Schedule)

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

Tunwal E-Motors IPO Lot Size

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

Tunwal E-Motors IPO Promoter Holding

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%

About Tunwal E-Motors Limited

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 Financial Information (Restated)

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Assets7,582.975,694.495,037.44
Revenue10,553.697,655.747,566.42
Profit After Tax1,181.17372.48233.94
Net Worth2,053.08821.91424.43
Reserves and Surplus1,224.06409.40321.55
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Tunwal E-Motors IPO is Rs 326.28 Cr.

KPI as of March 31, 2024.

KPI Values
ROE57.53%
ROCE59.38%
Debt/Equity1
RoNW57.53%
P/BV11.92
PAT Margin (%)11.29
Pre IPO Post IPO
EPS (Rs) 2.852.14
P/E (x) 20.7127.62
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (Tunwal E-Motors IPO Objectives)

The company proposes to utilize the Net Proceeds from the Issue towards the following objects:

  1. Funding of working capital requirements of the Company.
  2. Research & Development
  3. Pursuing Inorganic Growth
  4. General Corporate Expenses

Tunwal E-Motors IPO Review (May apply)

[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...


Tunwal E-Motors IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
Other7.61
Retail16.64
Total12.31

Total Application : 77,458 (16.66 times)

Tunwal E-Motors IPO Prospectus

Tunwal E-Motors IPO Rating

7
3.7
Rating:Rated 3.7 stars
Vote Here ...

Tunwal E-Motors Limited 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, 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 - Buy or Not

Tunwal E-Motors IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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Tunwal E-Motors IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Tunwal E-Motors IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The Tunwal E-Motors IPO listing date is not yet announced. The tentative date of Tunwal E-Motors IPO listing is Tuesday, July 23, 2024.
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