Tunwal E-Motors is scheduled to hit the market on July 15, 2024 and close on July 18, 2024. Tunwal E-Motors plans to raise around ₹115.64 Cr through an IPO with a sale of up to 19,600,000 equity shares of ₹2 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Tunwal E-Motors Limited, established in December 2018, is a prominent electric vehicle (EV) manufacturer focusing on producing and distributing top-notch electric two-wheelers. With a wide range of over 23 models tailored to diverse requirements, the company has built a strong presence in 19 states through a network of 256 dealers, ensuring comprehensive after-sales services like maintenance, diagnostics, and safety checks for customers.
The manufacturing facility of Tunwal E-Motors Ltd, situated in Palsana, Sikar and spanning 8000 square meters, has the capacity to produce up to 41000 electric bikes. With a dedicated team of 64 permanent employees trained regularly to enhance operational efficiency and maintain quality and safety standards, the company continues to strive for excellence in its operations and product offerings.
Tunwal E-Motors IPO Details
Tunwal E-Motors IPO opens on July 15, 2024, and closes on July 18, 2024. The Listing date for Tunwal E-Motors IPO is on July 23, 2024. The price band for IPO is ₹59 per share and lot size of 2000 Shares.
| IPO Date | July 15, 2024 to July 18, 2024 |
| Listing Date | July 23, 2024 |
| Price | ₹59 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹115.64 Cr |
| Face Value | ₹2 per share |
Tunwal E-Motors IPO Tentative Timetable
Tunwal E-Motors opening date is July 15, 2024 and close date is July 18, 2024. The IPO allotment date is July 19, 2024. The refund initiation of IPO is on July 22, 2024. The credit of shares in demat account is on July 22, 2024. The listing date is on July 23, 2024.
| Event | Date |
|---|---|
| IPO Opening | July 15, 2024 |
| IPO Closing | July 18, 2024 |
| IPO Allotment Date | July 19, 2024 |
| Refund Initiation | July 22, 2024 |
| Shares Credit to Demat | July 22, 2024 |
| Lisiting Date | July 23, 2024 |
Tunwal E-Motors 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 ₹118,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹118,000 |
| Retail(Maximum) | 1 | 2000 | ₹118,000 |
| HNI (Minimum) | 2 | 4000 | ₹236,000 |
Tunwal E-Motors IPO Promoter Holding
| Pre Issue Share Holding | 97.04% |
| Post Issue Share Holding | 62.34% |
Tunwal E-Motors IPO Review
Tunwal E-Motors Ltd. (TEML) is a growing player in the EV 2-wheeler sector, with a strong focus on innovation and rural market penetration. Established in 2018, the company has rapidly expanded its product lineup to over 23 models and built a dealer network across 19 states in India. TEML's production facility in Palsana, Rajasthan, has a current capacity utilization of 55.09% as of FY24, showcasing the company's potential to scale. The strategic focus on affordability and technological advancement has positioned TEML as a promising contender in the EV market.
Financially, TEML has shown impressive growth with a 346% CAGR in revenue. The company's revenue and net profit for FY22, FY23, and FY24 were Rs. 75.66 cr./Rs. 2.34 cr., Rs. 76.56 cr./Rs. 3.73 cr., and Rs. 105.54 cr./Rs. 11.81 cr., respectively. This significant increase, particularly in FY24, raises questions about the sustainability of such high profit margins. The upcoming IPO aims to raise Rs. 115.64 cr., with proceeds allocated for working capital, R&D, inorganic growth, and general corporate purposes, indicating a comprehensive strategy for future expansion.
Despite the promising growth, the IPO is aggressively priced, with a P/E ratio of 27.57 based on FY24 earnings and 86.77 based on FY23 earnings. This high valuation compared to industry peers such as Wardwizard Innovations and TVS Motors suggests a premium pricing strategy. Given the potential for growth in the EV sector, well-informed investors might consider investing for the medium to long term, while being mindful of the higher risks associated with the aggressive pricing and the need for sustained performance to justify the valuation.
Tunwal E-Motors IPO Subscription Status (Bidding Details)
Table not foundTunwal E-Motors 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
Tunwal E-Motors IPO FAQs
What is Tunwal E-Motors IPO?
Tunwal E-Motors is issuing 19,600,000 equity shares with a face value of ₹2 each, totaling up to ₹115.64 Cr. The shares are being offered at a price of ₹59 each, with a minimum order quantity of 2000 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Tunwal E-Motors IPO will open?
Tunwal E-Motors will open on July 15, 2024 for QIB, NII, and Retail Investors.
When Tunwal E-Motors IPO will end?
Tunwal E-Motors will end on July 19, 2024.
What is Tunwal E-Motors IPO Size?
Tunwal E-Motors IPO size is ₹115.64 Cr.
What is Tunwal E-Motors IPO Price Band?
Tunwal E-Motors price band is ₹59 per share.
What is the Tunwal E-Motors IPO Allotment Date?
Tunwal E-Motors allotment date is July 19, 2024.
What is the Tunwal E-Motors IPO Listing Date?
Tunwal E-Motors listing date is July 23, 2024. The IPO is to be listed on BSE and NSE.
How to Tunwal E-Motors IPO through Zerodha?
To apply for the IPO “Tunwal E-Motors” 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 Tunwal E-Motors IPO through Upstox?
To apply for the IPO “Tunwal E-Motors” 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 Tunwal E-Motors IPO Allotment Status?
For Tunwal E-Motors IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Tunwal E-Motors IPO GMP?
You can check out here: Tunwal E-Motors IPO GMP