Tunwal E-Motors Ltd, an upcoming force in the electric vehicle (EV) manufacturing sector, stands at the forefront of India’s drive towards sustainable and eco-friendly mobility solutions. Established in 2018, the company has rapidly evolved to become a significant player in the market, specializing in the design, development, manufacturing, and distribution of high-quality electric two-wheelers. Over the years, they have achieved a 346% CAGR on revenue, introduced more than 23 models including 7 variants of 2-wheelers, a dealer base of over 225 across India, and established a presence in 19 states.
Tunwal E-Motors operates with a streamlined organizational hierarchy, featuring key departments that drive various facets of its operations. The Sales and Marketing Department takes center stage, steering the creation and implementation of effective distribution strategies and managing diverse sales channels. Simultaneously, the Accounts Department ensures financial stability through oversight of financial management, budgeting, auditing, and taxation. The dealer development department within the sales department plays a crucial role in expanding the dealership network, fostering strong relationships, and providing essential support and training. Human Resources (HR) takes charge of recruitment, training, and organizational culture development, sustaining a talented and motivated workforce.
This company is establishing a Research and Development Department which will be required for future innovation and continuously enhancing existing EV products with technology. Lastly, the Service and Warranty Department completes the cycle, delivering a positive post-purchase experience through comprehensive after-sales service and support, including maintenance, repairs, and warranty claims. This well-coordinated structure positions Tunwal E-Motors for success in the dynamic electric vehicle landscape. Tunwal E-Motors Ltd’s comprehensive business model and commitment to excellence position it as an emerging player in India’s electric vehicle landscape, poised for sustained growth and success.
Objects of the Issue:
- Funding of working capital requirements of the Company.
- Research & Development
- Pursuing Inorganic Growth
- General Corporate Expenses
Tunwal E-Motors IPO Review
- May Apply
Tunwal E-Motors IPO Date & Price Band Details
| 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 |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
Tunwal E-Motors IPO Market Lot
The Tunwal E-Motors IPO minimum market lot is 2000 shares with a ₹118,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2000 | ₹118,000 |
| Retail Maximum | 1 | 2000 | ₹118,000 |
| S-HNI Minimum | 2 | 4000 | ₹236,000 |
Tunwal E-Motors IPO Dates
The Tunwal E-Motors IPO date is July 15 and the IPO close date is July 18. The IPO allotment date is July 19 and the IPO might 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 |
You can check IPO subscription status and IPO allotment status on their respective pages.
Tunwal E-Motors IPO Form
How to apply Tunwal E-Motors IPO? You can apply Tunwal E-Motors IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Tunwal E-Motors IPO in the Invest section. The other option you can apply Tunwal E-Motors IPO via IPO forms download via the NSE website. Check out the Tunwal E-Motors forms – click NSE IPO Forms download, fill and submit in your bank or with your broker.
Tunwal E-Motors Company Financial Report
| ₹ 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 |
Tunwal E-Motors IPO Valuation – FY2024
Check Tunwal E-Motors IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹2.85 per Equity Share |
| Price/Earning P/E Ratio: | 20.70 |
| Return on Net Worth (RoNW): | 57.53% |
| Net Asset Value (NAV): | ₹4.95 per Equity Share |
Peer Group
- Wardwizard Innovations & Mobililty Limited
- TVS Motors
Company Promoters
- Jhumarmal Pannaram Tunwal
- Amitkumar Pannaram Mali
- Jhumarmal Pannaram Tunwal HUF
Tunwal E-Motors IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: [email protected]
Website: https://www.skylinerta.com/ipo.php
Tunwal E-Motors IPO Allotment Status
Check Tunwal E-Motors IPO allotment status on Skyline website URL. Click Here
Tunwal E-Motors IPO Lead Managers aka Merchant Bankers
- Horizon Financial Pvt Ltd
Company Address
Tunwal E-Motors Limited
Rama Icon Commercial Building,
Office No 501, S.No 24/2, C.T.S, No. 2164,
Plot No. 31/11 Sadashiv Peth, Pune, 4110
Phone: +91-20-24336001
Email: [email protected]
Website: https://tunwal.com/
