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Tunwal E-Motors Ltd IPO

Tunwal E-Motors Ltd, an upcoming force in the electric vehicle (EV) manufacturing sector, stands at the forefront of India's drive towards sustainable and eco-friendly mobility solutions. Established in 2018, the company has rapidly evolved to become a significant player in the market, specializing in the design, development, manufacturing, and distribution of high-quality electric two-wheelers.

Tunwal E-Motors Ltd IPO Details

Total Shares Offered

₹ 1,96,00,000

Offer to Public

57,50,000

Retail Max (Shares)

₹ 93,10,000

Pre Issue Promoters Holding

₹ 4,00,19,296

Exchange

NSE

Issue size

TBA

IPO Open Date

Jul 15, 2024

Close Date

Jul 18, 2024

Lot Size

2000

Min Investment

TBA

Issue Type

Fixed Price - SME

Listing Date

Jul 23, 2024

Tunwal E-Motors Ltd IPO Dates

Jul 15, 2024

Opening date

Jul 18, 2024

Closing date

Jul 19, 2024

Basis of Allotment

Jul 22, 2024

Initiation of Refunds

Jul 22, 2024

Credit of Shares

Jul 23, 2024

Listing date

Details

Sector	Type
Sector	Automobiles - Motorcycles
Sub Sector	Mopeds
Issue Type	Fixed Price - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	0
NII	0x	9310000
Retail	0x	9310000
Employee	0x	0
Total	0x	19600000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

9310000

19600000

Tunwal E-Motors Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	178.59	16.69	5.69
EBITDA	17.50	17.61	6.46
PAT	11.86	11.81	3.72
Total Assets	162.21	64.25	45.52
Share Capital	11.06	8.29	4.13
Total Borrowings	53.98	23.48	27.75
Operating Activities (Net Cash)	12.96	12.73	4.49
Investing Activities (Net Cash)	2.43	0.00	0.00
Financing Activities (Net Cash)	53.98	23.48	27.75
Net Cashflow	8.73	2.65	3.27

About Tunwal E-Motors Ltd

Tunwal E-Motors Limited was originally incorporated as Tunwal E-Motors Private Limited on December 21, 2018, vide certification of incorporation bearing Corporate Identity No. U34300PN2018PTC180950. under the provision of Companies Act, 2013 issued by the Assistant Registrar of Companies, of Maharashtra Pune, Subsequently Company was converted into Public Limited Company vide a fresh certificate of incorporation issued by Registrar of Companies, Pune consequent upon conversion from Private Limited to Public Company dated December 13, 2023, to its present name of Tunwal E-Motors Limited with the Corporate Identification Number U34300PN2018PLC180950.

The electric two-wheeler (E2W) market in India is experiencing rapid growth, propelled by the country's status as one of the world's fastest-growing markets for electric vehicles. The two-wheeler segment, commanding over 70% of all registered vehicles in India, plays a pivotal role in this surge. E2Ws are increasingly popular for short-distance travel, particularly in urban areas, where they offer a convenient and efficient mode of transportation. Notably, more than 50% of all petrol transactions in India are related to two-wheelers. Beyond personal use, E2Ws are finding diverse applications in commercial sectors, including logistics fleets for food and groceries, parcel and courier services, and passenger transport-related services. The adaptability of these vehicles for navigating through traffic has led to testing for first and last-mile connectivity through shared trips and bike taxi services. A study suggests that the penetration of electric two-wheeler sales in India could exceed 80% by 2030, highlighting the sector's anticipated robust growth. The accompanying line graph, depicting registered E2W sales from December 2021 to March 2023, underscores the upward trajectory of E2W penetration in the Indian economy. In March 2023 alone, 86,067 registered E2W sales were recorded by the Society of Manufacturers of Electric Vehicles (SMEV), emphasizing the sector's growing prominence and consumer adoption. This summary captures the thriving landscape of the electric two-wheeler industry in India, driven by a surge in demand and a shift towards sustainable and efficient modes of transportation.

Peer Comparison:

Wardwizard Innovations & Mobility Ltd
TVS Motor Company Ltd

Tunwal E-Motors Ltd Key Points

Strengths

Pure EV player with an admirable position in the fast-growing Indian E2W market.

Recognized brand in the eyes of the distributors and consumers.

Present in 19 states through a distribution channel.

Selling a wide variety of products which are well accepted in the market.

Simple and innovative designs.

Risk

The Company and Promoter of the company are party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before the court and regulatory authority. Any adverse decision may make it liable to liabilities/penalties and may adversely affect its reputation, business, and financial status.

Its success depends on the company's ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.

The company depends on third parties for the supply of raw materials and does not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on its business, results of operations and financial condition.

Strategy

Enhance Nationwide Presence.

New EV Models Introduction.

Invest in R&D to advance its technological capabilities and optimize costs.

Global Market Exploration through Exports.

Optimise capacity utilization.

How To Apply for Tunwal E-Motors Ltd IPO Online?

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Go through the IPO details like lot size, price band, about the company, etc.

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Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Tunwal E-Motors Ltd IPO?

Tunwal E-Motors Ltd's IPO offers shares for up to 81.72 It begins on Jul 15, 2024 and ends on Jul 18, 2024.

What is the price of the Tunwal E-Motors Ltd IPO?

The price of Tunwal E-Motors Ltd IPO ranges between NA to NA per share.

What are the open and close dates for the Tunwal E-Motors Ltd IPO?

The Tunwal E-Motors Ltd IPO opens on Jul 15, 2024 and closes on Jul 18, 2024.

When will the Tunwal E-Motors Ltd IPO be allotted?

The allotment for the Tunwal E-Motors Ltd IPO will be finalised on Jul 19, 2024. The shares will be listed on BSE and NSE on Jul 23, 2024.

What is the minimum lot size required for Tunwal E-Motors Ltd IPO?

The minimum lot size for Tunwal E-Motors Ltd IPO is 2000 shares, priced between NA to NA per share.

What is the GMP of Tunwal E-Motors Ltd IPO?

The GMP (Grey Market Premium) of Tunwal E-Motors Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Tunwal E-Motors Ltd IPO?

To check the allotment status of Tunwal E-Motors Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Tunwal E-Motors Ltd IPO getting listed?

The Tunwal E-Motors Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 15, 2024, and closes on Jul 18, 2024. The allotment is finalised on Jul 19, 2024.

How do you apply for the Tunwal E-Motors Ltd IPO?

To apply for the Tunwal E-Motors Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.