Tunwal E-Motors Limited
Fixed Price IPO · NSE
- Price band
- ₹59 - ₹59
- Lot size
- 2,000 shares
- Issue amount
- ₹115.64 cr
- Total subscription
- 12.18×
- Opens
- 15 Jul 2024
- Closes
- 18 Jul 2024
- Allotment
- 19 Jul 2024
- Listing
- 23 Jul 2024
Offer at a glance
Issue overview
- Issue size
- 1,96,00,000 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹1,18,000
- Fresh issue
- ₹81.72 cr
- Offer for sale
- ₹33.93 cr
- Registrar
- Skyline Financial Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,18,000
- Issue type
- Fixed Price IPO
- Shares before issue
- 4,14,51,080
- Shares after issue
- 5,53,01,080
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 2,000 | ₹1,18,000 |
| HNI | 2 | 4,000 | ₹2,36,000 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 54.93 | 423.66 |
| RETAIL | 54.93 | 914 |
Financial performance
Company financials
In Lakhs · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 2.85 | 1.81 | 1.21 |
| ROE | 57.53 | 45.32 | 55.12 |
| ROCE | 59.38 | 31.97 | 27.13 |
| RONW | 57.53 | 45.32 | 55.12 |
| PRE IPO(PE) | 20.71 | 0 | 0 |
| POST IPO(PE) | 27.62 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in December 2018, Tunwal E-Motors Limited is an electric vehicle manufacturer specializing in the design, development, production, and distribution of electric two-wheelers. Offering over 23 models, the company serves 23 states in India through a network of 330+ dealers who provide comprehensive after-sales services. Its Palsana, Sikar manufacturing facility spans 8,000 sq. meters with a production capacity of 41,000 units. As of March 31, 2024, Tunwal E-Motors employs 64 permanent staff trained in quality, safety, and operational excellence.
Strengths
- Strong Market Presence: Tunwal E-Motors Limited is a key player in India's fast-growing electric two-wheeler (E2W) market.
- Trusted Brand: Known for its quality and reliability, the company enjoys a positive reputation among distributors and customers.
- Wide Dealer Network: Operating in 19 states with over 256 dealers, Tunwal E-Motors makes its products easily accessible across the country.
Risk factors
- Legal Issues: The company and its promoter are facing ongoing legal cases, which could result in fines, reputation damage, and affect the company's business and financial stability.
- Product Development Risks: The company’s growth depends on launching new electric vehicle models on time and in large numbers, which can be difficult and risky.
- Supplier Dependency: The company relies on external suppliers without guaranteed long-term contracts, which could cause supply delays and negatively impact business operations and finances.
Promoters
Jhumarmal Pannaram Tunwal
Amitkumar Pannaram Mali
Jhumarmal Pannaram Tunwal HUF
Registrar & documents
Lead manager
Horizon Financial Private Limited
Registrar & contacts
Skyline Financial Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S, No. 2164, lot No. 31/11 Sadashiv Peth, Pune
+91-20-24336001
[email protected]Company website ↗Understanding TUNWAL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.