Tunwal E-Motors IPO Details: Tunwal E-Motors is set to launch its IPO from July 15 to July 18, 2024. This NSE SME IPO aims to raise ₹115.64 crores, with shares priced at ₹59 each, and a market lot of 2000 shares.
Founded in 2018, Tunwal E-Motors Ltd has swiftly become a key player in India’s electric vehicle (EV) industry, dedicated to advancing sustainable and eco-friendly mobility solutions. The company has demonstrated impressive growth, achieving a 346% CAGR on revenue and introducing over 23 models, including 7 variants of two-wheelers. With a dealer network of more than 225 across 19 states, Tunwal E-Motors is significantly impacting the market.
The company’s streamlined organizational structure supports its operations across various crucial areas. The Sales and Marketing Department is pivotal, developing effective distribution strategies and managing diverse sales channels. The Accounts Department ensures financial stability through comprehensive management, budgeting, auditing, and taxation. The Dealer Development Department, part of Sales, focuses on expanding the dealership network, fostering strong relationships, and providing essential support and training.
Human Resources (HR) manages recruitment, training, and organizational culture development, ensuring a talented and motivated workforce. The newly established Research and Development Department drives future innovation, enhancing existing EV products with cutting-edge technology. The Service and Warranty Department completes the customer journey by offering thorough after-sales service, including maintenance, repairs, and warranty claims.
Tunwal E-Motors’ comprehensive business model and commitment to excellence position it as a rising force in India’s EV landscape, poised for sustained growth and success.
Tunwal E-Motors IPO Objectives:
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding of working capital requirements of the Company.
- Research & Development
- Pursuing Inorganic Growth
- General Corporate Expenses
Tunwal E-Motors IPO Review (Apply or Not)
- May Apply
Tunwal E-Motors IPO Date & Price Band Details:
| IPO Open: | July 15, 2024 |
| IPO Close: | July 18, 2024 |
| IPO Size: | Approx ₹115.64 Crores, 19,600,000 Equity Shares |
| Fresh Issue: | Approx ₹81.72 Crores, 13,850,000 Equity Shares |
| Offer for Sale: | Approx ₹33.93 Crores, 5,750,000 Equity Shares |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹59 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 50% of the net offer |
| QIB Quota: | NA |
| NII Quota: | 50% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
Tunwal E-Motors IPO Lot Size:
Tunwal E-Motors’ IPO features a minimum market lot of 2000 shares, requiring an application amount of ₹118,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2000 | ₹118,000 |
| Retail Maximum | 1 | 2000 | ₹118,000 |
| S-HNI Minimum | 2 | 4000 | ₹236,000 |
Tunwal E-Motors IPO Timeline:
The Tunwal E-Motors IPO is scheduled to open on July 15 and close on July 18. The allotment date is set for July 19, with the anticipated listing date on July 23.
| IPO Open Date: | July 15, 2024 |
| IPO Close Date: | July 18, 2024 |
| Basis of Allotment: | July 19, 2024 |
| Refunds: | July 22, 2024 |
| Credit to Demat Account: | July 22, 2024 |
| IPO Listing Date: | July 23, 2024 |
Tunwal E-Motors IPO GMP Today:
The last Grey Market Premium (GMP) for Tunwal E-Motors SME IPO stands at ₹25. Given the price band of ₹59.00, the estimated listing price is ₹84 (cap price + today’s GMP). This suggests an expected percentage gain per share of 42.37%
Tunwal E-Motors Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹75.66 | ₹72.42 | ₹2.34 |
| 2023 | ₹76.56 | ₹71.63 | ₹3.72 |
| 2024 | ₹105.54 | ₹89.77 | ₹11.81 |
Tunwal E-Motors IPO Valuation – FY2024
Check Tunwal E-Motors IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹2.85 per Equity Share |
| Price/Earning P/E Ratio: | 20.70 |
| Return on Net Worth (RoNW): | 57.53% |
| Net Asset Value (NAV): | ₹4.95 per Equity Share |
Peer Group
- Wardwizard Innovations & Mobililty Limited
- TVS Motors
Company Promoters
- Jhumarmal Pannaram Tunwal
- Amitkumar Pannaram Mali
- Jhumarmal Pannaram Tunwal HUF
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 Allotment Status
Check Tunwal E-Motors IPO allotment status on Skyline website URL. Click Here
Tunwal E-Motors IPO Lead Managers aka Merchant Bankers
- Horizon Financial Pvt Ltd
Company Address
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 FAQs
What are the IPO dates for Tunwal E-Motors?
The IPO will open on July 15, 2024, and close on July 18, 2024.
What is the allotment date for Tunwal E-Motors IPO?
The allotment date for the IPO is set for July 19, 2024.
When will Tunwal E-Motors IPO be listed?
The IPO is expected to be listed on July 23, 2024.
What is the price band for Tunwal E-Motors IPO?
The price band for the IPO is fixed at ₹59 per share.
What is the minimum market lot for Tunwal E-Motors IPO?
The minimum market lot is 2000 shares.
What is the minimum application amount for the Tunwal E-Motors IPO?
The minimum application amount is ₹118,000.
What is the Grey Market Premium (GMP) for Tunwal E-Motors IPO?
As of July 11, 2024, 07:00 PM, the last reported GMP is ₹25.
How is the estimated listing price calculated?
The estimated listing price is calculated by adding the cap price of the IPO (₹59) to the current GMP (₹25), resulting in an estimated listing price of ₹84.
What is the expected percentage gain/loss per share for Tunwal E-Motors IPO?
The expected percentage gain per share is 42.37%.
What is the total amount Tunwal E-Motors aims to raise through the IPO?
Tunwal E-Motors aims to raise ₹115.64 crores through the IPO.
What sector does Tunwal E-Motors operate in?
Tunwal E-Motors operates in the electric vehicle (EV) manufacturing sector.
When was Tunwal E-Motors established?
Tunwal E-Motors was established in 2018.
How many models has Tunwal E-Motors introduced?
Tunwal E-Motors has introduced over 23 models, including 7 variants of two-wheelers.
How extensive is Tunwal E-Motors’ dealer network?
Tunwal E-Motors has a dealer base of over 225 across 19 states in India.
What are the key departments within Tunwal E-Motors?
Key departments include Sales and Marketing, Accounts, Dealer Development, Human Resources, Research and Development, and Service and Warranty.
What is the role of the Research and Development Department at Tunwal E-Motors?
The Research and Development Department is focused on future innovation and continuously enhancing existing EV products with cutting-edge technology.
