IPO Details
Bidding Dates
15 Jul '24 - 18 Jul '24
Minimum Investment
₹1,18,000 / 1 Lot ( 2,000 Shares )
Price Range
₹59
Maximum Investment
₹1,18,000 / 1 Lot ( 2,000 Shares )
Retail Discount
To be announced
Issue Size
₹115.64 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Jul 15, 2024
IPO Close Date
Jul 18, 2024
Basis of Allotment
Jul 19, 2024
Initiation of Refunds
Jul 22, 2024
Credit of Shares to Demat
Jul 22, 2024
Listing Date
Jul 23, 2024
Cut-off time for UPI mandate confirmation
Jul 18, 2024
About Tunwal E-Motors Ltd
Incorporated in December 2018, Tunwal E-Motors Limited is a leading electric vehicle (EV) manufacturing company dedicated to the design, development, manufacturing, and distribution of high-quality electric two-wheelers. The company has successfully introduced over 23 distinct models in the local market, catering to a diverse range of consumer needs.
Tunwal E-Motors has established a significant presence across 19 states in India through an extensive network of over 256 dealers. Each appointed dealer is required to provide comprehensive after-sales services, including routine maintenance, battery management, diagnostics, safety checks, and component replacements, ensuring customer satisfaction and vehicle longevity.
The company’s manufacturing facility is located in Palsana, Sikar, spanning an area of 8,000 square meters. This state-of-the-art plant has a production capacity of up to 41,000 units, enabling Tunwal E-Motors to meet the growing demand for electric bikes.
As of March 31, 2024, Tunwal E-Motors employs 64 permanent staff members. The company is committed to operational excellence, regularly training its employees to enhance productivity and ensure adherence to stringent quality and safety standards.
Tunwal E-Motors Limited continues to play a pivotal role in advancing the EV industry in India, contributing to a sustainable future with its innovative and reliable electric two-wheelers.
Industry Outlook:
- India's electric two-wheeler segment grew at a staggering 303% CAGR from FY21 to FY23, outpacing all other segments in the dynamic EV market.
- By 2030, India’s E2W exports are projected to exceed US$ 28-30 million, growing at a robust CAGR of 10-12%, highlighting significant export potential.
Tunwal E-Motors Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of working capital requirements of the Company
- Research & Development
- Pursuing Inorganic Growth
- General Corporate Expenses
Peer Details
The companies considered by Tunwal E-Motors as its peers include:
- Wardwizard Innovations & Mobililty Limited
- TVS Motors Limited
How to Check the Allotment Status of the Tunwal E-Motors Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.
Contact Details of Tunwal E-Motors Limited IPO
- Registered office: Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S No. 2164, Plot No. 31/11 Sadashiv Peth, Pune, 411030 Maharashtra India
- Phone: +91-20-24336001
- E-mail: cs@tunwal.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Revenue (in ₹ lakh) | 10,553.69 | 7,655.74 | 7,566.42 |
| Profit After Tax (PAT) (in ₹ lakh) | 1,181.17 | 372.48 | 233.94 |
| Cash & Cash Equivalents (in ₹ lakh) | 264.65 | 327.31 | 261.49 |
| Net Worth (in ₹ lakh) | 2,053.08 | 821.91 | 424.43 |
| Debt Equity Ratio (x) | 1.00 | 2.30 | 3.20 |
| Return on Equity (%) | 57.53% | 45.32% | 55.12% |
| Return on Capital Employed (RoCE) (%) | 59.38% | 31.97% | 27.13% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 2.85 | 1.81 | 1.21 |
Know before investing
Strengths
6-
Experienced leadership with a decade of industry expertise.
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Leveraging management's market acumen for identifying opportunities.
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Diverse portfolio with over 23 electric two-wheeler models.
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Presence in 19 states with 256+ dealers.
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Commitment to sustainability with eco-friendly electric two-wheelers.
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Resilient profitability even during the COVID-19 pandemic.
Risks
8-
Legal proceedings could result in ₹282.92 lakhs liabilities.
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Criminal case involving promoter may impact reputation.
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Developing new EVs requires significant capital investment.
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Reliance on third-party suppliers for raw materials.
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80% of raw materials from few international suppliers.
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Pricing pressure may adversely affect profit margins.
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Supply chain disruptions can impact manufacturing and delivery.
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Inability to anticipate market trends may affect competitiveness.
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Tunwal E-Motors IPO FAQs
Tunwal E-Motors Limited IPO is a Fixed Price IPO. The IPO will be open from July 15, 2024, to July 18, 2024.
The Basis of Allotment will happen on Friday, July 19, 2024.
The IPO subscription window will open on July 15, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2,000 shares.
The listing date for Tunwal E-Motors is Tuesday, July 23, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
