FREE Account Opening + No Clearing Fees
Loading...

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. 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.

Tunwal E-Motors IPO Details

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 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 IPO Listing Details

Listing Date July 23, 2024
BSE Script Code
NSE Symbol TUNWAL
ISIN INE0OXV01027
Final Issue Price ₹59 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹59.00
₹64.00
₹60.80
₹64.00
₹60.80

Check IPO Performance…

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

Read All Reviews Post Your Review Manage Reviews

SME IPO Enquiry

SME Company Owners
We could help you get listed on the stock market.

Contact us Today

Check our SME IPO Guide New

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 on July 23, 2024.
Open an Instant Account with Zerodha

Tunwal E-Motors IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

Loading...

659 Comments

238. Kuldeepsinh |   Link |  Bookmark |August 9, 2024 10:30:08 AM
Ola listed positive and shoot up 15% but not action yet no uc in this stock what to do in next any body know ?
238.4. Kuldeepsinh |   Link |  Bookmark |August 9, 2024 8:39:09 PM
@ultrasnow Then what is your statergy for tunwal e motors share
Can you please tell me sir

What is chances or your opinion
238.5. ultrasnow |   Link |  Bookmark |August 9, 2024 11:50:32 PM
@Kuldeepsinh Strategy is to wait at least a few quarters. Good sector, do not sell unless in urgent need of funds
237. MilanS |   Link |  Bookmark |August 9, 2024 3:01:51 PM
Ola ke sath thodi buying ayi h may be now people will look at relative cheap price and good fundamentals
236. Kuldeepsinh |   Link |  Bookmark |August 9, 2024 2:59:40 PM
Pelease send someone this company details to QIB pr big players There is best company then OLA 😀😀😀

profitableAnd best revenue this stock wants 5 6 UC now

Because OLA is a loss maker but shoot up and make UC in 6100 cr ipo

Then this company is best value
235. IPOse Dukhi Atma |   Link |  Bookmark |August 6, 2024 12:58:45 PM (200+ Posts)
Till now entered and exited in this stock 2 times,, bought 1 lot @49.60 and exited @51.95,, then again bought @47.5 and exited @49.95,, This stock looks good, but because of no interest from big players, looks like its always under pressure,, no clear LC or UC till now,, Shows the indecision by stock holders. In the beginning, I was confident about this stock. Now I am also not sure. Will enter again if it falls to 40 level or shows good indication of an upward movement
235.6. IPOse Dukhi Atma |   Link |  Bookmark |August 12, 2024 1:22:55 PM (200+ Posts)
Some traction is coming now with OLA. But still some selling pressure. and big resistances ahead are 55 and 59. Looks like good support @50 & 45
235.7. sauryadav |   Link |  Bookmark |August 12, 2024 1:30:44 PM
Hello @IPOse Dukhi Atma,
Oh yes, i checked some time back just like that and found it to be hovering at 52 but then big selling orders came in and it is sturggling the hold the momentum since then. But interesting roller coster ride. haha

Cheers
234. Kuldeepsinh |   Link |  Bookmark |August 6, 2024 10:35:07 AM
What to do in tunwal e motors please suggest me

I have 3 lot from ipo 59 price

Can i exit cost to cost in uocoming days ??please sugges
234.1. Ramachandra |   Link |  Bookmark |August 6, 2024 10:38:32 AM
exit and buy at 30 levels
234.2. IPOse Dukhi Atma |   Link |  Bookmark |August 6, 2024 1:02:03 PM (200+ Posts)
Keep it for long term if you can,, otherwise book loss and enter again @lower level,, or if you have money, average it @lower level
233. Lobiro |   Link |  Bookmark |August 2, 2024 7:52:31 PM
This company is a gem stock for long term. Be patient. The future of EV in India is bright. You will be rewarded if you stay calm. Current PE is almost 1/4th of its peers. It will be a multibagger.
233.5. IpoMoneyunblocked |   Link |  Bookmark |August 5, 2024 11:42:40 PM
30 target we can see in 2 days only 20% circuit and no hope with this company to recover
233.6. Ramachandra |   Link |  Bookmark |August 6, 2024 10:35:22 AM
nifty can come 23387
save money for lover levels
232. IpoMoneyunblocked |   Link |  Bookmark |August 2, 2024 10:54:43 AM
Stock selection + timing matters

Tunwal may give time to exit with less loss on tuesday
232.6. sauryadav |   Link |  Bookmark |August 2, 2024 2:29:02 PM
i mean WOW @IpoMoneyunblocked that was some prediction!
so it has a new mark to fall from on monday haha
232.7. IpoMoneyunblocked |   Link |  Bookmark |August 2, 2024 2:42:16 PM
I think picture will b clear on tuesday
231. sauryadav |   Link |  Bookmark |August 2, 2024 9:09:40 AM
Morning members!

I think its time to let go off Tunwal for the good of others...its been an evident fact that a stock has grown exponentially after i sell it off :D

Cheers
231.2. IpoMoneyunblocked |   Link |  Bookmark |August 2, 2024 10:23:33 AM
Expecting it to close near uc today
231.3. sauryadav |   Link |  Bookmark |August 2, 2024 10:40:39 AM
hehe havent sold it yet..hard to take that call..i bought it on 57 so currently my lot is on a ventilator :D and another one which i invested in also has landed in LC right next day...its Clinitech ...out of all the 10-12 IPOs in the past few days only the ones i have are down :D
230. RPM |   Link |  Bookmark |August 1, 2024 7:17:20 PM (200+ Posts)
Is tunwal publishing monthly sales figures...?
230.2. Old Bull |   Link |  Bookmark |August 3, 2024 8:38:06 AM
These sales figures pertain to those vehicles which are registered with RTO, Tunwal manufacture non RTO vehicles in which no lisensce and insurance is requried, i know it because i used to be dealer of KLB komaki, even figures declared by komaki are incorrect their sales is much more than shown here . TUNWAL almost sale approx 15000 two wheelers.
230.3. RPM |   Link |  Bookmark |August 15, 2024 7:08:34 PM (200+ Posts)
@Old Bull Is there anyway to check its sales or quarterly results?
229. Old Bull |   Link |  Bookmark |July 31, 2024 11:43:44 AM
Mansi and Giriraj are not in loss i gave seen many deals by them in other counters which they buy high and sell low, so it cannot be trusted and they are very seasoned traders booking loss by them I don👆believe, second thing total IPO was of 33 crore only it is very easy to manuplate prices by operators, last 3 4 trading session volumes sujest big things.
229.1. sauryadav |   Link |  Bookmark |July 31, 2024 12:07:56 PM
Thats some insight!

What will be your verdict if I may ask?
228. Kamal want to learn share market |   Link |  Bookmark |July 30, 2024 11:22:05 AM
Again today will be lc its trapping retailers be cautious
228.2. Ramachandra |   Link |  Bookmark |July 30, 2024 12:15:42 PM
yes be ware
228.3. MilanS |   Link |  Bookmark |July 30, 2024 12:23:55 PM
Yes weak hands are out weakers are spreading scare, its uc now
227. Ramachandra |   Link |  Bookmark |July 29, 2024 11:00:20 PM
IPO Retail 93L shares Hni 93L shares total: 1.96cr Aprox

on 23-07-24 4260000 100% delivery
24th 218000
25th 126000
26th 3670000 97% delivery
29th 1496000 91% delivery

All to gather 95L shares got delivery aprox still 1cr shares left
in 5 trading days it fall from 64 to 49.60. coming days selling pressure will be there from people who bot on 23rd and 26th.apart from this 1cr shares left un traded yet who got in ipo @59 this is how @Vbhav
227.1. MilanS |   Link |  Bookmark |July 30, 2024 1:55:46 AM
Single lot purchase karne wale jo retailers h unke upar selling pressure nai h, and attractive price dikhne par buyers aur ayege, so will not got till 30
227.2. Vbhav |   Link |  Bookmark |July 30, 2024 8:19:36 AM (200+ Posts)
@Ramachandra  It should not go till 30/-

You calculation is good . But it will not go below till 30/- .

I am holding it for long-term. Is it ok ?? I dint find anything wrong about company.
226. Red Vs Green |   Link |  Bookmark |July 29, 2024 10:54:19 PM
Girija ji now completly out from this stock after booking 1.62 crore loss. Now mansi has aprox 10 Lakh shares and can not be trusted for long term hold.
226.12. syed m faizi |   Link |  Bookmark |August 1, 2024 4:34:54 PM
Retailers ayenge retailers trap honge, par circuit open rehna chahiye :)
226.13. sauryadav |   Link |  Bookmark |August 1, 2024 5:39:46 PM
hahaha aane jaane waalon ke chakkar mein lag raha hai yahi haal reh jayega Tunwal ka :D
225. Old Bull |   Link |  Bookmark |July 29, 2024 3:32:55 PM
Ward Wijard pe 100, greaves cotton pe 159,Mercury EV Tech PE 659 , Tunwall oe. 26
224. Old Bull |   Link |  Bookmark |July 29, 2024 3:29:37 PM
There is definatly operator play in tunwall heauvy volumes suggest so
223. Mas |   Link |  Bookmark |July 29, 2024 10:24:11 AM (200+ Posts)
Something is cooking in this one , can't understand why back to back LC.
223.4. IPOse Dukhi Atma |   Link |  Bookmark |July 30, 2024 10:42:53 AM (200+ Posts)
@sauryadav  UC today, cheers :)
223.5. sauryadav |   Link |  Bookmark |July 30, 2024 10:47:03 AM
hehe yes, something to cherish today...lets see what tomorrow holds...but thank you for sharing @IPOse Dukhi Atma :) :)

Cheers to you too
222. sauryadav |   Link |  Bookmark |July 29, 2024 10:15:39 AM
Greetings members!

Was just going through articles and came across a list of IPOs fascilitated by the 'Horizon management private limited' (below is the list of the ones launched in a year)...more than half of them are landing in LC. Quite a strange pattern..or this may be just a random matter of chance and could be ignored.

#      Issuer Company       Exchange      Issue Open
1      Tunwal E-Motors Limited       NSE SME      Jul 15, 2024
2      Veritaas Advertising Limited NSE SME      May 13, 2024
3      Shree Karni Fabcom Limited       NSE SME      Mar 06, 2024
4      M.V.K. Agro Food Product Ltd       NSE SME      Feb 29, 2024
5      Baba Food Processing India Limited       NSE SME      Nov 03, 2023
6      Cosmic CRF Limited       BSE SME      Jun 14, 2023

Regards
222.1. IPOse Dukhi Atma |   Link |  Bookmark |July 29, 2024 12:50:07 PM (200+ Posts)
coincidence
221. Unluckyneweshak |   Link |  Bookmark |July 29, 2024 9:57:09 AM
It seems like till the time QIBs come in this script it will keep doing LCs. Market makers are changing hands n taking it down further.
220. StayInvested |   Link |  Bookmark |July 29, 2024 8:09:07 AM
Very good company.. company fundamentals is strong. Profitable, PE is very low compare to peers and ola electric ipo gives push to this stock...so buy as much as you can...
219. Kuldeepsinh |   Link |  Bookmark |July 28, 2024 6:39:38 PM
I have 3 loats kya karna chahiye can anyone guide me ctc nikal paunga ya nahi ismese