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
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
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 98.24 | 62.34 |
| Share Capital | 40672924 | 34473317 |
Offer to Public
1,96,00,000.00 Cr
Project Details
- Pursuing Inorganic Growth - 50cr
- Research & Development - 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
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 5,037.44 | 102.88 | 7.19 | 7.19 | 0.0346 |
| 2021 | 577.92 | 52.00 | 372.48 | 372.48 | 0.903 |
| 2023 | 5,694.49 | 412.51 | 233.94 | 233.94 | 0.5685 |
