July 23, 2024
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Tunwal E-Motors IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Tunwal E-Motors IPO listing Review
On 23 July 2023, the scrip was listed at Rs. 64, a premium of 6.47% over the issue price.
Tunwal E-Motors allotment Link
What was the last grey market premium of Tunwal E-Motors IPO?
Premium Rs. 5
Subject to rates Rs. 7600
Subscription status of Tunwal E-Motors IPO
Tunwal e-Motor IPO (Closed)Price Rs. 59 Lot 2000 shares, Rs. 109.86 Crore |
||||
| QIB | NII X | RII X | Total X | Applications |
| 7.61 | 16.64 | 12.31 | 77,458 / (16.66x) | |
| Bids of Rs. 1352.38 Crore received | ||||
| Note: Weak response | ||||
What is the business of Tunwal E-Motors?
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.
With new age production facility strategically located in Palsana, Rajasthan, Tunwal E-Motors leverages efficient manufacturing/assembly processes to meet the burgeoning demand for electric scooters. The company is registered under the Bureau of Indian Standards and SAE International, USA has confirmed World Manufacturer identifier (WMI) code for the company.
The Company has strategically designed a robust revenue model, to sustain its financial health and foster growth in the competitive electric vehicle market. The company’s primary revenue stream emanates from Sales of various models through its established distributor / dealer network, encompassing the sale of electric two wheelers directly to customers.
It has more than 23 different models which have been launched in the domestic market catering to the various needs and segments.
Get more information about the company @ www.tunwal.com
Tunwal E-Motors IPO Details |
|
| IPO opens on | 15 July 2024 |
| IPO closes on | 18 July 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 19600000 Shares / Rs 115.64 Crore |
| * Fresh Issue | 13850000 Shares / Rs 81.72 Crore |
| * Offer for Sale – | 5750,000 shares/ Rs. 33.92 Crore |
| Market Maker Portion | 980000 Shares |
| Net offer to Public | 186200000 Shares/ Rs.109.86 Crore |
| Face Value per share | Rs. 2 |
| Price Band | Rs.59 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (50%) | 9310000 | 54.93 |
| NII (15%) | 2793000 | 16.48 |
| RII (35%) | 6517000 | 38.45 |
| Total Shares | 18620000 | 109.86 |
| Retail portion will be oversubscribed by | 3258 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 2000 Shares | Rs.118000 |
| Min HNI Application | 4000 Shares | Rs.236000 |
Who are the Promoters of Tunwal E-Motors IPO?
TThe promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUF
What are the Objects of Tunwal E-Motors IPO?
The Offer comprises of fresh issue of shares and offer for sale.
The objectives of the Offer are to:
1.Funding of working capital requirements of the Company.
2.Research & Development
3.Pursuing Inorganic Growth
4.General Corporate Expenses
Tentative timetable |
|
| IPO opens on | 15 July 2024 |
| IPO Closes on | 18 July 2024 |
| IPO Allotment on | 19 July 2024 |
| Refund Initiation | 22 July 2024 |
| Credit of Shares | 22 July 2024 |
| Listing on | 23 July 2024 |
| Registered Office of the Company 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 |
| Who is the Lead Manager of this IPO? Horizon Financial Pvt Ltd |
| Who is the Registrar to IPO? Skyline Financial Services Private Ltd |
Tunwal E-Motors IPO Financial & Analytical Ratios |
||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Crore | Rs. | % | |
| 2021-22 | 75.66 | 2.34 | 1.21 | 55.12 |
| 2022-23 | 76.56 | 3.72 | 1.81 | 45.32 |
| 2023-24 | 105.54 | 11.81 | 2.85 | 57.53 |
| Book Value of the Share on 31.03.2024 | 31.03.2024 | Rs 4.95 | ||
| BV of the Share at cap price | after the IPO | Rs. | ||
| Offer Price/upper band | Rs. 59 | |||
IPO
|
|
| Price/last EPS of 23-24 | 20.71 |
| Price/BV Ratio | 11.92 |
| Upper price/BV after IPO | – |
How Tunwal E-Motors IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Tunwal E Motors | 2 | 106 | 20.71 |
| Wardwizard Inno. | 1 | 239 | 152 |
| TVS Motor | 1 | 31974 | 38.52 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Tunwal E-Motors IPO Review
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.
Size: Net size of the IPO is Rs. 109.86 crore, which is large, compared to other SME IPOs. The retail portion is Rs. 38.45 Crore and NII portion is Rs.16.48 Crore.
Financial Snapshot: In spite of tough competition from industry heavy weights like Bajaj Auto, TVS Motor, Ola, the company has achieved reasonably good topline and bottomline. Though the competition will increase further, the deman is also expanding at very huge rate. The shares are offered at reasonable valuation and offers scope for listing gains.
+ from fundamental angle: Apply
+ from grey market angle: ?
Quicklinks
Tunwal E-Motors IPO GMP today allotment, review?
Tunwal E-Motors IPO GMP grey market premium
Tunwal E-Motors IPO FAQs
What is Tunwal E-Motors IPO?
This is a SME IPO of 19600000 equity shares of the face value of Rs. 10 aggregating up to Rs.115.64 Crores. The issue is priced at Rs.59 per share. The minimum order quantity is 2000 Shares.
When will Tunwal E-Motors IPO subscription open?
The IPO opens on July 15, 2024, and closes on July 18, 2024.
What is the lot size of Tunwal E-Motors IPO?
The IPO lot size is 2000 Shares, and the minimum amount required is Rs.118000
How to apply for Tunwal E-Motors IPO?
You can apply in this IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Tunwal E-Motors IPO allotment?
The finalization of Basis of Allotment for this IPO will be done on 19 July, 2024, and the allotted shares will be credited to your demat account by July 22, 2024.
When is Tunwal E-Motors IPO listing date?
This IPO listing date is July 23, 2024.
