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

Tunwal E-Motors IPO Details: Tunwal E-Motors IPO date is fixed, The IPO will open on July 15, 2024 and will close on July 18, 2024. Tunwal E-Motors is a NSE SME IPO to raise ₹115.64 crores via IPO. The Tunwal E-Motors IPO price band is fixed at ₹59 with a market lot of 2000 shares.

Tunwal E-Motors IPO

Table of Contents


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.

ApplicationLot SizeSharesAmount
Retail Minimum12000₹118,000
Retail Maximum12000₹118,000
S-HNI Minimum24000₹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
YearRevenueExpensePAT
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/

Tunwal E-Motors IPO FAQs


What is Tunwal E-Motors IPO?

Tunwal E-Motors IPO is an NSE SME IPO. They are going to raise ₹115.64 Crores via IPO. The issue is priced at ₹59 per equity share. The IPO is to be listed on NSE.

When Tunwal E-Motors IPO will open?

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

What is Tunwal E-Motors IPO Investors Portion?

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

How to Apply the Tunwal E-Motors IPO?

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

How to Apply the Tunwal E-Motors IPO through Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Tunwal E-Motors IPO through Upstox?

Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

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

Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Tunwal E-Motors”. Click on Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

What is Tunwal E-Motors IPO Size?

Tunwal E-Motors IPO size is ₹115.64 crores.

What is Tunwal E-Motors IPO Price Band?

Tunwal E-Motors IPO Price Band is ₹59 per equity share.

What is Tunwal E-Motors IPO Minimum and Maximum Lot Size?

The IPO bid is 2000 shares with ₹118,000.

What is Tunwal E-Motors IPO Allotment Date?

Tunwal E-Motors IPO allotment date is July 19, 2024.

What is Tunwal E-Motors IPO Listing Date?

Tunwal E-Motors IPO listing date is July 23, 2024. The IPO to list on NSE SME.

Note: The Tunwal E-Motors IPO details are announced officially. The IPO grey market premium (Tunwal E-Motors IPO Premium) is updated on the respective page. You can check our IPO grey market page for daily updates.

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