BikeWo Green Tech IPO will open on September 18, 2024, and close on September 20, 2024. This is a Book Built Issue, with the company aiming to raise approximately ₹24.09 crores. The IPO includes a fresh issue of ₹24.09 crores and an offer for sale of equity shares with a face value of ₹10 each.
The price band for the IPO is set between ₹59 and ₹62 per share. Retail investors are allocated 35%, Qualified Institutional Buyers (QIB) 50%, and High Net-worth Individuals (HNI) 15%. The company’s shares are expected to list on the NSE SME platform on September 25, 2024, with allotments finalized on September 23, 2024.
In terms of financial performance, BikeWo Green Tech reported a revenue of ₹20.62 crores in 2023, up from ₹13.92 crores in 2022. The company’s profit for 2023 was ₹0.10 crores, down from ₹0.15 crores in 2022. Investors considering this IPO may want to focus on the long-term potential of the company based on its financials.
BikeWo Green Tech IPO Objectives:
The company intends to use the net proceeds from the IPO for the following purposes:
Funding the purchase of electric two-wheelers for distribution to new and existing dealers.
Financing capital expenditure for establishing eleven dealership stores across various states in India.
Prepayment or repayment of a portion of the company’s outstanding borrowings.
General corporate purposes.
BikeWo Green Tech IPO Review: Should You Apply?
Review to be updated soon.
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BikeWo Green Tech IPO Date & Price Band:
| IPO Open Date: | September 18, 2024 |
| IPO Close Date: | September 20, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹59 to ₹62 Per Share |
| Issue Size: | Approx ₹24.09 Crores |
| Fresh Issue: | Approx ₹24.09 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
BikeWo Green Tech IPO Lot Size:
The minimum lot size for the BikeWo Green Tech IPO is 2,000 shares, with a required minimum application amount of ₹1,24,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2000 | ₹ 1,24,000 |
| Retail Maximum | 1 | 2000 | ₹ 1,24,000 |
| HNI Minimum | 2 | 4000 | ₹ 2,48,000 |
BikeWo Green Tech IPO Timeline:
The BikeWo Green Tech IPO will open for subscription on September 18, 2024, and close on September 20, 2024. Share allotments will be finalized on September 23, 2024, with the IPO listing scheduled for September 25, 2024.
| IPO Open Date: | September 18, 2024 |
| IPO Close Date: | September 20, 2024 |
| Basis of Allotment: | September 23, 2024 |
| Refunds: | September 24, 2024 |
| Credit to Demat Account: | September 24, 2024 |
| IPO Listing Date: | September 25, 2024 |
Promoters of BikeWo Green Tech IPO:
The promoters of BikeWo Green Tech Limited are Katepalli Manideep, Satyapoorna Chander Yalamanchili, N. Vidhya Sagar Reddy, and Manvi Talwar.
About BikeWo Green Tech Limited:
Established in 2016, BikeWo Green Tech Limited is a leading two-wheeler retailer in India. The company has consistently generated revenue since its inception. Initially focused on buying and selling pre-owned four-wheelers through authorized dealers of prominent automobile brands, BikeWo Green Tech facilitated the trade of used cars by acquiring vehicles from these dealers and assisting customers looking to sell or exchange their current vehicles for new ones.
BikeWo Green Tech has built a comprehensive network that encompasses all aspects of vehicle purchasing, including vehicle searches based on buyer preferences, price negotiations, booking, certification, financing, and doorstep delivery. Acting as a key intermediary between new car dealers and designated used car lots, the company supplies used cars for sale and earns a margin on each transaction.
Their business model focuses on establishing a dealership network in Tier-II and Tier-III cities. Currently, they offer three dealership models to partners: (i) State Dealership, (ii) Diamond Dealership, and (iii) Platinum Dealership. The company prioritizes strengthening its presence in existing markets before entering new ones, resulting in a strong brand presence in Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Gujarat. Moving forward, BikeWo plans to expand its dealership network in these regions and gradually enter new markets such as Rajasthan, Kerala, Karnataka, and West Bengal, in line with their cluster-focused growth strategy.
BikeWo Green Tech IPO Company Financial Report:
The company reported revenue of ₹20.62 crores in 2023, up from ₹13.92 crores in 2022. The profit for 2023 was ₹0.10 crores, compared to ₹0.15 crores in 2022.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹ 22.98 | ₹ 22.09 | ₹ 0.47 | ₹ 12.16 |
| 2022 | ₹ 13.92 | ₹ 12.80 | ₹ 0.15 | ₹ 14.97 |
| 2023 | ₹ 20.62 | ₹ 19.90 | ₹ 0.10 | ₹ 19.62 |
| Dec-23 | ₹ 18.07 | ₹ 15.90 | ₹ 1.31 | ₹ 30.16 |
BikeWo Green Tech IPO Valuation – FY2023
Check BikeWo Green Tech IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 1.36% |
| ROCE: | 2.64% |
| EBITDA Margin: | 3.26% |
| PAT Margin: | 0.48% |
| Debt to equity ratio: | NA |
| Earning Per Share (EPS): | ₹0.19 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 1.35% |
| Net Asset Value (NAV): | ₹ 35.44 |
BikeWo Green Tech IPO Registrar
- Bigshare Services Pvt Ltd
- Phone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://ipo.bigshareonline.com/ipo_status.html
IPO Lead Managers aka Merchant Bankers
Khandwala Securities Limited
Company Address
- BikeWo Green Tech Limited
- Plot No. 502B, Amara Jyothi
- Road No. 31, Jubilee Hills
- Hyderabad-500033
- Phone: +91 8121007731
- Email: info@bikewo.in
- Website: https://bikewo.in/
BikeWo Green Tech IPO FAQs
What is the BikeWo Green Tech IPO?
The BikeWo Green Tech IPO is an SME IPO aimed at raising ₹24.09 crores. The issue price is set between ₹59 and ₹62 per equity share, and it will be listed on the NSE.
When does the BikeWo Green Tech IPO open for subscription?
The IPO will open for subscription on September 20, 2024, for Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Investors. It will close on September 24, 2024.
What is the investor allocation for the BikeWo Green Tech IPO?
The allocation is as follows: 50% for QIB, 15% for NII, and 35% for Retail Investors.
How can I apply for the BikeWo Green Tech IPO?
You can apply for the BikeWo Green Tech IPO online through ASBA via your bank account or through UPI with your stock broker. Alternatively, you can submit an offline application form through your stock broker.
