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TCS, HDFCBANK, SBI Liquid Fund (G)
Tunwal E-Motors Ltd.

Symbol

Equity

NSE

Min. Investment

59,000.00

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IPO Details

Bidding Dates

15 Jul 24 - 18 Jul 24

Price Range ₹

59 - 0

Total Equity

115.64Cr

Lot Size

2000

Exchange Status

NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.00×

Qualified Institutional Buyers

0.00×

Employees

0.00×

Retail Investors

0.00×

Total subscription Rate

0.00×

IPO Timeline

Offer start

15 Jul 2024

Offer end

18 Jul 2024

Allotment

19 Jul 2024

Refund initiation

22 Jul 2024

Demat transfer

22 Jul 2024

Listing

23 Jul 2024

About Company

Founded in December 2018, Tunwal E-Motors Limited is an electric vehicle (EV) manufacturing company that focuses on designing, developing, manufacturing, and distributing high-quality electric two-wheelers. The company has launched over 23 different models in the local market to meet diverse needs. Tunwal E-Motors has a presence in 19 states, supported by a network of more than 256 dealers across India. When appointing a dealer, the company requires them to provide after-sales services, including routine maintenance, battery management, diagnostics, safety checks, and component replacement. The company's manufacturing facility, located in Palsana, Sikar, spans 8,000 square meters. This plant has the capacity to produce up to 41,000 electric bikes. As of March 31, 2024, Tunwal E-Motors employed 64 permanent staff members. The company regularly trains its employees to enhance operational excellence, boost productivity, and maintain high standards of quality and safety compliance.

Year Founded

21-12-2018

Promotor Details

Jhumarmal Pannaram Tunwal

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage98.2462.34
Share Capital4067292434473317

Offer to Public

1,96,00,000.00 Cr

Project Details

  • Research & Development - 50cr
  • Pursuing Inorganic Growth - 50cr
  • Funding of working capital requirements of the Company - 350cr

Objectives

  • Funding of working capital requirements of the Company.Research & DevelopmentPursuing Inorganic GrowthGeneral Corporate Expenses

Highlights

  • As a pure EV player, Tunwal E-Motors has established an admirable position in the fast-growing Indian electric two-wheeler (E2W) market.
  • The company is well-regarded by both distributors and consumers, reflecting its strong brand recognition.
  • With a presence in 19 states through a robust distribution channel, the company has a widespread market reach.
  • Tunwal E-Motors offers a wide variety of products that are well accepted in the market, featuring simple and innovative designs.
  • The company is founder-led and supported by a highly experienced and professional leadership team, which drives its strategic initiatives and operational excellence.

Challenges

  • The company and its promoter are involved in various litigation and claims pending at different adjudication levels. Adverse decisions could result in liabilities, penalties, and negatively impact its reputation, business, and financial status.
  • The company relies on third parties for raw material supply without firm commitments or exclusive arrangements. The loss of suppliers, including key international ones, could adversely affect its business operations, results, and financial condition.
  • The company's revenue heavily depends on its distributors and dealers. Any decrease in revenue or sales from key intermediaries could negatively impact its business and operational results.
  • Pressure from customers to lower prices could reduce the company’s gross margin and profitability. Inability to raise prices might materially affect its operational results and financial condition.
  • Potential defects, quality issues, supply disruptions, or increased component prices could raise material costs, affect manufacturing timelines, and impact profitability.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
20235,694.49412.517.197.190.0346
20225,037.44102.88233.94233.940.5685
2021577.9252.00233.94233.940.5685
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