Tunwal E-Motors Limited IPO
- IPO Date15 Jul, 2024 to 18 Jul, 2024
- Listing Date23 Jul, 2024
- Face Value₹2 per share
- Issue Price₹59 to ₹59 per share
- Lot Size2000 Shares
- Minimum Investment₹1,18,000
- Listing At41,451,080
- Total Issue Size1,96,00,000 Shares
(aggregating up to ₹115.64 Cr) - Fresh Issue1,38,50,000 Shares
(aggregating up to ₹81.72 Cr)
- Offer for Sale57,50,000 Shares
(aggregating up to ₹33.92 Cr) - Issue TypeFixed Price Issue IPO
- Share holding pre issue5,53,01,078
- Shareholding post issue-
IPO Dates
Closing Date
18 Jul, 2024
Initiation of Refunds
22 Jul, 2024
Listing Date
23 Jul, 2024
15 Jul, 2024
Opening Date
19 Jul, 2024
Basis of Allotment
22 Jul, 2024
Credit of Shares
Tunwal E-Motors Limited Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Min) | 2 | 4000 | ₹2,36,000 |
| Retail (Max) | 1 | 2000 | ₹1,18,000 |
| S-HNI (Max) | - | - | - |
| Retail (Min) | 1 | 2000 | ₹1,18,000 |
| B-HNI (Min) | - | - | - |
Tunwal E-Motors Limited Promoter Holding
The promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUF
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 97.04% | 62.34% |
Tunwal E-Motors Limited COMPANY INFORMATION
Tunwal E-Motors IPO is a fixed price issue of Rs 115.64 crores. The issue is a combination of fresh issue of 138.5 lakh shares aggregating to Rs 81.72 crores and offer for sale of 57.5 lakh shares aggregating to Rs 33.93 crores. Tunwal E-Motors IPO opens for subscription on July 15, 2024 and closes on July 18, 2024. The allotment for the Tunwal E-Motors IPO is expected to be finalized on Friday, July 19, 2024. Tunwal E-Motors IPO will list on NSE SME with tentative listing date fixed as Tuesday, July 23, 2024. Tunwal E-Motors IPO price is ₹59 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹118,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹236,000. Horizon Financial Pvt Ltd is the book running lead manager of the Tunwal E-Motors IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Tunwal E-Motors IPO are Nikunj Stock Brokers and Giriraj Stock Broking. Refer to Tunwal E-Motors IPO RHP for detailed information.
Incorporated in December 2018, Tunwal E-Motors Limited is an electric vehicle (EV) manufacturing company that specializes in designing, developing, manufacturing, and distributing high-quality electric two-wheelers.
The company has introduced over 23 different models in the local market to cater to various needs.
The company has its presence in 19 states through a network of more than 256 dealers.
The company has a network of around 256 dealers in India. When a dealer is appointed, the company requires them to provide after-sales services such as routine maintenance, battery management, diagnostics, safety checks, and component replacement to customers.
The manufacturing unit of the company is located in Palsana, Sikar spread across an area of 8000 square meters.
Tunwal E-Motors Ltd manufactures electric bikes at its plant in Palsana and has the capacity to produce up to 41000 units.
As of March 31, 2024, the company had 64 permanent employees. The company trains its employees regularly to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.
Tunwal E-Motors Limited IPO
The document is a prospectus for Tunwal E-Motors Limited, detailing its financial and operational aspects. It includes information about the company's authorized share capital, the details of the public issue of equity shares, and the risks associated with the first public offer. The document also provides insights into the company's financial indebtedness, its board of directors, key intermediaries, and related party disclosures. Additionally, it outlines the company's statutory auditors and legal advisors.
Pros:
- Strong LeadershipThe company is led by a competent and experienced board of directors, ensuring effective governance and strategic decision-making.
- Financial StabilityTunwal E-Motors Limited exhibits financial stability, as evidenced by its negligible transactions and consistent remuneration to key managerial personnel over the years.
- Operational TransparencyThe document provides detailed insights into the company's financial indebtedness, related party transactions, and regulatory compliances, reflecting operational transparency.
- Strategic ExpansionThe company's expansion plans, including the purchase of machinery and equipment, signify a forward-looking approach towards growth and development.
- Legal ComplianceThe document outlines the company's adherence to legal and regulatory requirements, such as income tax and GST registrations, ensuring compliance with government regulations.
Cons:
- Related Party TransactionsThe consistent remuneration to key managerial personnel might raise concerns about potential conflicts of interest and corporate governance issues.
- Financial IndebtednessThe unsecured loans taken by key managerial personnel and their relatives could pose financial risks and impact the company's financial health.
- Lack of Capital AlterationThe company's intention to maintain its capital structure without alterations for the next six months might limit its flexibility in responding to market dynamics.
Conclusion
In conclusion, Tunwal E-Motors Limited's IPO portrays a promising venture with robust leadership and financial stability. However, it also raises concerns about related party transactions and financial indebtedness, which potential investors should consider.
This analysis provides a balanced view of the IPO, offering valuable insights for potential investors and stakeholders.
FAQs About Tunwal E Motors Limited Ipo
Tunwal E-Motors Limited IPO will open on 15 Jul, 2024 and close on 18 Jul, 2024. Investors must apply within this period to participate.
The Tunwal E-Motors Limited IPO price band is set between ₹59.00 and ₹59.00 per share. The minimum lot size is 2000, requiring an investment of at least ₹118000.00.
The Tunwal E-Motors Limited IPO shares are expected to be listed on 23 Jul, 2024, subject to regulatory approvals and final allotment.
You can track your Tunwal E-Motors Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Tunwal E-Motors Limited IPO will be listed on major stock exchanges such as BSE, where you can trade shares once they are listed.