Tunwal E-Motors was incorporated on December 21, 2018. It is one of the emerging companies in the EV 2-wheeler sector, committed to advancing innovation in EV 2-wheeler manufacturing. Tunwal E-Motors, an upcoming company in the electric vehicle (EV) manufacturing sector, works towards sustainable and eco-friendly mobility solutions.
| Bidding Dates |
|---|
| 15 Jul 2024 - 18 Jul 2024 |
| Subscription |
|---|
| 11.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,18,000 | 1 | 1 | 2000 | 19.6 M | ₹59 | 62.34 % | ₹1156.4 M | RHP DOC |
Tunwal E-Motors IPO SUBSCRIPTION STATUS
18 Jul '24Tunwal E-Motors IPO overall subscription rate was 11.57 times the total available shares
Tunwal E-Motors IPO retail subscription rate was 15.81 times in the retail segment
Tunwal E-Motors IPO non-institutional investor subscription rate was 7.33 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
18 Jul 2024 (Day 3) | 15.81x | 7.33x | - |
16 Jul 2024 (Day 2) | 4.62x | 1.43x | - |
15 Jul 2024 (Day 1) | 2.72x | 0.98x | - |
Tunwal E-Motors FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 118.1 | 1,046.0 | 1.8 | -9.4 | 17.1% |
| FY23 | 37.2 | 765.0 | -20.8 | -38.4 | 8.6% |
| FY22 | 23.4 | 754.6 | -25.5 | -90.6 | 5.7% |
Tunwal E-Motors IPO SUBSCRIPTION STATUS DETAILS
Tunwal E-Motors had 19.6 M shares on offer
Tunwal E-Motors IPO offer price was ₹59
Tunwal E-Motors IPO minimum Investment was ₹118000
Tunwal E-Motors IPO issue size was ₹ 1156.4 M
Tunwal E-Motors had a minimum lot size of 2000 Shares per application
Tunwal E-Motors NUMBER OF SHARES ON OFFER
Tunwal E-Motors IPO IMPORTANT DATES
| Issue Open Date | 15 Jul 2024 |
| Issue close Date | 18 Jul 2024 |
| Allotment Date | 19 Jul 2024 |
| Refund Date | 22 Jul 2024 |
| Demat Account Credit Date | 22 Jul 2024 |
| Listing Date | 23 Jul 2024 |
| Listing on Exchange(s) | NSE |
| Tunwal E-Motors Allotment Status | Exchange |
Tunwal E-Motors IPO subscription opened on 15 Jul 2024, and closed on 18 Jul 2024
IPO allotment for Tunwal E-Motors was finalized on Friday, 19 Jul 2024
IPO listing for Tunwal E-Motors was on NSE on Tuesday, 23 Jul 2024
Tunwal E-Motors IPO LISTING GAINS
| Issue Price (adjusted) | 59.0 |
| Listing Open Price | 64.0 |
| Listing Close Price | 60.8 |
| Listing Gain% | 8.5% |
| Current Gain% | -55.3% |
Tunwal E-Motors Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tunwal E-Motors Ltd. | 26.4 | 146 | 11.9 | 2.8 | 0.5 | 10.2 | 5.9 | 278.3 | 50.5 | 12.8 | 8.8 | 2.2 | 4.3 |
| Bajaj Auto Ltd. | 11662 | 325950.3 | 27.7 | 0.5 | 4.6 | 27.7 | 13.9 | 65087.2 | 24 | 10744.2 | 46.7 | 420.7 | 54.9 |
| Eicher Motors Ltd. | 8020 | 220162.6 | 38.1 | 2 | 8.8 | 22 | 17.1 | 24894.1 | 23.4 | 5515.2 | 16.5 | 210.3 | 19.3 |
| TVS Motor Company Ltd. | 4440.9 | 210981.4 | 61.6 | 1.4 | 3.5 | 31.6 | 5.3 | 56091.5 | 27 | 3018.3 | 35 | 72.1 | 43.7 |
| Hero MotoCorp Ltd. | 5725 | 114580.8 | 21 | 2.6 | 2.3 | 26.6 | 17.2 | 48469.4 | 15.5 | 5741.7 | 31.1 | 272.2 | 8.2 |
| Ather Energy Ltd. | 1481.5 | 58444.2 | -149.9 | -2.9 | 13.8 | -20.1 | -11 | 3823.1 | 65.8 | -517.2 | 36.3 | -9.9 | 51.7 |
Tunwal E-Motors INFORMATION ON IPO ISSUE
About Tunwal E-Motors
Tunwal E-Motors was incorporated on December 21, 2018. It is one of the emerging companies in the EV 2-wheeler sector, committed to advancing innovation in EV 2-wheeler manufacturing. Tunwal E-Motors, an upcoming company in the electric vehicle (EV) manufacturing sector, works towards sustainable and eco-friendly mobility solutions.
Object of the Issue
- Funding of working capital requirements of the company
- Research & development
- Pursuing inorganic growth
- General corporate expense
Tunwal E-Motors - PROMOTERS
| Name |
|---|
| Jhumarmal Pannaram Tunwal |
| Amitkumar Pannaram Mali |
| Jhumarmal Pannaram Tunwal HUF |
Tunwal E-Motors Lead Manager of the Issue
Horizon Management Private Limited
akash.das@horizon.net.co
Tunwal E-Motors Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Tunwal E-Motors Strengths
Consistent financial performance:
The company has demonstrated financial performance with a consistent track record of profitability, even amidst the challenges posed by the COVID-19 pandemic
Product portfolio
With over 23 models including 7 variants developed and available for distribution, Tunwal E-Motors sets itself apart in the electric vehicle (EV) market
Dealer network
The company is present in 19 states through a network of more than 256 dealers
Tunwal E-Motors Risks
Certain litigation and claims
The company and promoter of the company are parties to certain litigations and claims. These legal proceedings are pending at different levels of adjudication before the court and regulatory authority
Pricing pressure
Pricing pressure from the customers may adversely affect the gross margin and profitability. The inability to increase the prices may have a material adverse effect on the results of operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 33.9 crore, of 5,750,000 shares. It also consists of a fresh issue of Rs 81.7 crore.
The promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali and Jhumarmal Pannaram Tunwal HUF.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 59.0 - 59.0.
The IPO application opens on Jul 15, 2024 and closes on Jul 18, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 118,000.0, the maximum value for this IPO is Rs 118,000.0.
This IPO will be allotted on Jul 19, 2024.
The refund will be credited to your account on Jul 22, 2024.
The allotted shares will be credited to your demat on Jul 22, 2024.
Tunwal E-Motors Ltd.’s shares listed on the stock exchanges on Jul 23, 2024.