BikeWo GreenTech is scheduled to hit the market on September 20, 2024 and close on September 24, 2024. BikeWo GreenTech plans to raise around ₹24.09 Cr through an IPO with a sale of up to 3,886,000 equity shares of ₹10 each. The Retail offered 35.00%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Bikewo Green Tech Limited was established in December 2006 and is a retailer of electric two-wheelers in India. The company operates in several states, including Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. They use a dealership model to run their business and offer three types of dealerships: State Dealership, Diamond Dealership, and Platinum Dealership. Bikewo plans to open new stores in cities like Raipur, Indore, Delhi, Chandigarh, Lucknow, Prayagraj, Patna, Bhubaneshwar, Nagpur, Bangalore, and Trivandrum. As of January 31, 2024, the company has 36 employees.
Bikewo has a strong position in the electric vehicle market in India, with partnerships for brands like Ola Electric, Quantum escooters, Bounce, and GT-Force. Their unique business model allows them to operate in multiple states, and they are focusing on expanding their after-sales services. This strategy is helping them achieve steady revenue growth and improve profit margins.
BikeWo GreenTech IPO Details
BikeWo GreenTech IPO opens on September 20, 2024, and closes on September 24, 2024. The Listing date for BikeWo GreenTech IPO is on September 27, 2024. The price band for IPO is ₹59 to ₹62 per share and lot size of 2000 Shares.
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | September 27, 2024 |
| Price | ₹59 to ₹62 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹24.09 Cr |
| Face Value | ₹10 per share |
BikeWo GreenTech IPO Tentative Timetable
BikeWo GreenTech opening date is September 20, 2024 and close date is September 24, 2024. The IPO allotment date is September 25, 2024. Therefund initiation of IPO is on September 26, 2024. The credit of shares in demat account is on September 26, 2024. The listing date is on September 27, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 20, 2024 |
| IPO Closing | September 24, 2024 |
| IPO Allotment Date | September 25, 2024 |
| Refund Initiation | September 26, 2024 |
| Shares Credit to Demat | September 26, 2024 |
| Lisiting Date | September 27, 2024 |
BikeWo GreenTech IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹124,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹124,000 |
| Retail(Maximum) | 1 | 2000 | ₹124,000 |
| HNI (Minimum) | 2 | 4000 | ₹248,000 |
BikeWo GreenTech IPO Promoter Holding
| Pre Issue Share Holding | 89.00% |
| Post Issue Share Holding |
BikeWo GreenTech IPO Review
The company is launching its first IPO using the book building method. They will offer 3,886,000 equity shares with a face value of Rs. 10 each to raise Rs. 24.09 crore at the highest price in the price range.
On the financial performance front, for the last three fiscals, the company has posted a total revenue/net profit of Rs. 13.92 cr. / Rs. 0.15 cr. (FY22), Rs. 20.62 cr. / Rs. 0.10 cr. (FY23), and Rs. 25.14 cr. / Rs. 1.67 cr. (FY24). It marked growth in bottom lines with a big jump for FY24, that surprises all.
For the last three fiscals, it has reported an average EPS of Rs. 1.37 and an average RoNW of 7.78%. The issue is priced at a P/BV of 3.39 based on its NAV of Rs. 18.31 as of March 31, 2024, and at a P/BV of ?? based on its post-IPO NAV of Rs. 62*** per share (at the upper cap).
*** post IPO NAV data appears to have been garbled. It shows the lower and upper price band itself as its NAV at the lower cap and upper cap post IPO, which is not correct.
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 48.44. Based on FY23 earnings, the P/E stands at 826.67. Thus the issue is aggressively priced discounting all near term positives.
The company reported PAT margins of 1.10% (FY22), 0.48% (FY23), 6.69% (FY24), and RoCE margins of 5.77%, 2.64%, 10.87% for the referred periods, respectively.
The company is a new electric two-wheeler retailer operating across India. It works on a third-party or franchise model. While it has seen an increase in sales, its profits have been inconsistent. Based on the earnings from FY24, it looks like the pricing is quite aggressive. Investors who are knowledgeable and have extra cash might consider investing a moderate amount for the long term.
BikeWo GreenTech IPO Subscription Status (Bidding Details)
Table not foundBikeWo GreenTech IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
BikeWo GreenTech IPO FAQs
What is BikeWo GreenTech IPO?
BikeWo GreenTech is issuing 3,886,000 equity shares with a face value of ₹10 each, totaling up to ₹24.09 Cr. The shares are being offered at a price of ₹59 to ₹62 each, with a minimum order quantity of 2000 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When BikeWo GreenTech IPO will open?
BikeWo GreenTech will open on September 20, 2024 for QIB, NII, and Retail Investors.
When BikeWo GreenTech IPO will end?
BikeWo GreenTech will end on September 24, 2024.
What is BikeWo GreenTech IPO Size?
BikeWo GreenTech IPO size is ₹24.09 Cr.
What is BikeWo GreenTech IPO Price Band?
BikeWo GreenTech price band is ₹59 to ₹62 per share.
What is BikeWo GreenTech IPO Allotment Date?
BikeWo GreenTech allotment date is September 25, 2024.
What is BikeWo GreenTech IPO Listing Date?
BikeWo GreenTech listing date is September 27, 2024. The IPO is to be listed on BSE and NSE.
How to Apply BikeWo GreenTech IPO through Zerodha?
To apply for the IPO “BikeWo GreenTech” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply BikeWo GreenTech IPO through Upstox?
To apply for the IPO “BikeWo GreenTech” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check BikeWo GreenTech IPO Allotment Status?
For BikeWo GreenTech IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is BikeWo GreenTech IPO GMP?
You can check out here: BikeWo GreenTech IPO GMP. Check all IPO GMP here.