Tunwal E-Motors IPO Date, Review, Price, Allotment Details

The Tunwal E-Motors IPO is scheduled to open on July 15, 2024, and close on July 18, 2024. This NSE SME IPO aims to raise ₹115.64 crores. The price band for the IPO is set at ₹59 per share, with a minimum lot size of 2000 shares.

Tunwal E-Motors Ltd Overview

Tunwal E-Motors Ltd, an emerging leader in the electric vehicle (EV) manufacturing sector, is spearheading India’s transition towards sustainable and eco-friendly mobility solutions. Founded in 2018, the company has quickly become a significant market player, focusing on the design, development, manufacturing, and distribution of high-quality electric two-wheelers. Tunwal E-Motors has achieved a 346% CAGR in revenue, introduced over 23 models, including 7 variants of two-wheelers, established a dealer base of more than 225 across India, and has a presence in 19 states.

The company’s streamlined organizational hierarchy includes key departments driving its operations. The Sales and Marketing Department is at the forefront, developing and implementing effective distribution strategies and managing diverse sales channels. The Accounts Department maintains financial stability through financial management, budgeting, auditing, and taxation oversight. The dealer development department within sales is crucial in expanding the dealership network, fostering strong relationships, and providing essential support and training. Human Resources (HR) handles recruitment, training, and organizational culture development, ensuring a talented and motivated workforce.

Tunwal E-Motors is also establishing a Research and Development Department to drive future innovation and enhance existing EV products with advanced technology. The Service and Warranty Department completes the cycle, ensuring a positive post-purchase experience through comprehensive after-sales service and support, including maintenance, repairs, and warranty claims. This coordinated structure positions Tunwal E-Motors for success in the dynamic electric vehicle market. Tunwal E-Motors Ltd’s comprehensive business model and commitment to excellence position it as a rising star in India’s electric vehicle landscape, poised for sustained growth and success.

Objects of the Issue:

Funding working capital requirements

Research & Development

Pursuing inorganic growth

General corporate expenses

Tunwal E-Motors Review:

May Apply

Tunwal E-Motors IPO Date

IPO Open:	July 15, 2024
IPO Close:	July 18, 2024
IPO Size:	Approx ₹115.64 Crores, 19,600,000 Equity Shares
Fresh Issue:	Approx ₹81.72 Crores, 13,850,000 Equity Shares
Offer for Sale:	Approx ₹33.93 Crores, 5,750,000 Equity Shares
Face Value:	₹2 Per Equity Share
IPO Price Band:	₹59 Per Equity Share
IPO Listing on:	NSE SME
Retail Quota:	50% of the net offer
QIB Quota:	NA
NII Quota:	50% of the net offer

Tunwal E-Motors IPO Market Lot

The minimum market lot for the Tunwal E-Motors IPO is 2000 shares, with an application amount of ₹118,000.

Application	Lot Size	Shares	Amount
Retail Minimum	1	2000	₹ 1,18,000
Retail Maximum	1	2000	₹ 1,18,000
S-HNI Minimum	2	4000	₹ 2,36,000

Tunwal E-Motors IPO Dates

The Tunwal E-Motors IPO will open on July 15 and close on July 18. The allotment date is set for July 19, and the IPO is expected to list on July 23.

IPO Open Date:	July 15, 2024
IPO Close Date:	July 18, 2024
Basis of Allotment:	July 19, 2024
Refunds:	July 22, 2024
Credit to Demat Account:	July 22, 2024
IPO Listing Date:	July 23, 2024

Tunwal E-Motors Company Financials

		in crores
Year	Revenue	Expense	PAT
2022	₹ 75.66	₹ 72.42	₹ 2.34
2023	₹ 76.56	₹ 71.63	₹ 3.72
2024	₹ 105.54	₹ 89.77	₹ 11.81

Also Read: IPO GMP, Latest IPO Grey Market Premium & Kostak Rates

Tunwal E-Motors IPO Valuation – FY2024

Review the valuation details of the Tunwal E-Motors IPO, including Earnings Per Share (EPS), Price/Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).

Earning Per Share (EPS):	₹2.85 per Equity Share
Price/Earning P/E Ratio:	20.7
Return on Net Worth (RoNW):	57.53%
Net Asset Value (NAV):	₹4.95 per Equity Share

Peer Group

Company Promoters

Tunwal E-Motors IPO Registrar

Tunwal E-Motors IPO Allotment Status

Check Tunwal E-Motors IPO allotment status on the Skyline website here.

Tunwal E-Motors IPO Lead Managers (Merchant Bankers)

Horizon Financial Pvt Ltd

Company Address

Tunwal E-Motors IPO FAQs

What is Tunwal E-Motors IPO?

Tunwal E-Motors IPO is an NSE SME IPO aimed at raising ₹115.64 crores, priced at ₹59 per equity share, to be listed on NSE.

When will Tunwal E-Motors IPO open?

The IPO will open on July 15, 2024, for QIB, NII, and Retail Investors.

What is the Tunwal E-Motors IPO investors’ portion?

The investors’ portion is 0% for QIB, 50% for NII, and 50% for Retail.

How to apply for the Tunwal E-Motors IPO?

You can apply for the Tunwal E-Motors IPO via ASBA online through your bank account or via UPI through your stock brokers. You can also apply by filling out the offline form with your stock brokers.

How to apply for the Tunwal E-Motors IPO through Zerodha?

Log in to Console on the Zerodha website or app, go to Portfolio, and click on IPO. Select “Tunwal E-Motors,” click on the Bid button, enter your UPI ID, quantity, and price, and submit the IPO application form. Approve the mandate on your UPI app. Open a Demat account with Zerodha if needed.

How to apply for the Tunwal E-Motors IPO through Upstox?

Log in to the Upstox app, select the IPO, choose “Tunwal E-Motors,” click on the Bid button, confirm your application, and approve the mandate on your UPI app. Open a Demat account with Upstox if needed.

How to apply for the Tunwal E-Motors IPO through Paytm Money?

Log in to the Paytm Money app, select the IPO, choose “Tunwal E-Motors,” click on the Bid button, confirm your application, and approve the mandate on your UPI app. Open a Demat account with Paytm Money if needed.

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

The IPO size is ₹115.64 crores.

What is the price band for the Tunwal E-Motors IPO?

The price band is ₹59 per equity share.

What is the minimum and maximum lot size for the Tunwal E-Motors IPO?

The minimum and maximum lot size is 2000 shares, amounting to ₹118,000.