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

Tunwal E-Motors IPO Details

Tunwal E-Motors IPO details Today : Tunwal E-Motors IPO details Today is Open on 15 July 2024 and Close on 18 July 2024. Tunwal E-Motors IPO to Raise 19,600,000 shares (Approx ₹115.64 Cr) via IPO. The Fresh issue of 13,850,000 shares (Approx ₹81.72 Cr) and The Offer For Sale is 5,750,000 shares of ₹2 (Approx ₹33.93 Cr).

Our Company was originally incorporated as “Tunwal E-Motors Private Limited” on 21 December 2018.Tunwal E-Motors Ltd, an upcoming force in the electric vehicle manufacturing sector, stands at the forefront of India’s drive towards sustainable and eco-friendly mobility solutions. 

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.

Our Product Portfolio:

We have more than 23 different models which have been launched in the domestic market catering to the various needs and segments.

  • Mini Sports 63 – 48V
  • Mini Lithino
  • Storm Zx
  • Lithino Li
  • TZ
  • ROMA
  • ALFA PRO

We are present in 19 states through a network of more than 225 dealers.

With new age production facility strategically located in Palsana, Rajasthan, Tunwal E-Motors leverages efficient manufacturing/assembly processes to meet the burgeoning demand for electric scooters. Our company is registered under the Bureau of Indian Standards and SAE International, USA has confirmed World Manufacturer identifier (WMI) code for our company.

Committed to addressing the urgent need for electric mobility solutions in India, Tunwal E-Motors focuses on delivering user friendly, technologically advanced and affordable electric scooters. The company’s mission extends beyond product excellence, aiming to contribute to a cleaner and more sustainable future for the nation and also develop further electric based mobility solutions.

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.

Our company is establishing a Research and Development Department which will be required for furture innovation and continuously enhancing existing EV products with technology.

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.

Tunwal E-Motors IPO Date & Price Band Details

IPO Open Date 15 July 2024
IPO Close Date 18 July 2024
IPO Size 19,600,000 shares (Approx ₹115.64 Cr)
Fresh Issue 13,850,000 shares (Approx ₹81.72 Cr)
Offer For Sale 5,750,000 shares of ₹2 (Approx ₹33.93 Cr)
Lot Size 2000 Shares
IPO Face Value ₹2 Per Equity Share"
IPO Price Band ₹59 Per Every Share
IPO Listing On NSE SME
IPO Retail Quota 50%
IPO QIB Quota -%
IPO NII Quota 50%
DRHP Draft Click Here
Anchor Investor Click Here

Tunwal E-Motors IPO Market Lot Details

Application Lot Size Shares Amount
Retail Minimum 1 2000 ₹118,000
Retail Maximum 1 2000 ₹118,000
S-HNI Minimum 2 4000 ₹236,000

Object of the Issue

  1. Funding of working capital requirements of the Company.
  2. Research & Development.
  3. Pursuing Inorganic Growth.
  4. General Corporate Expenses.

Tunwal E-Motors IPO Allotment & Listings (Details)

IPO Open Date 15 July 2024
IPO Close Date 18 July 2024
Basis of Allotment 19 July 2024
Refunds 22 July 2024
Credit to Demat Account 22 July 2024
IPO Listing Date 23 July 2024

Tunwal E-Motors Financial Reports

₹ in Lakhs
Year Revenue Net Worth PAT
2024 ₹10,553.69 ₹2,053.08 ₹1,181.17
2023 ₹7,655.74 ₹821.91 ₹372.48
2022 ₹7,566.42 ₹424.43 ₹233.94

Our Company Promoters

  1. Jhumarmal Pannaram Tunwal

Qualitative Factors

  • Pure EV player with an admirable position in the fast-growing Indian E2W market.
  • Recognized brand in the eyes of the distributors and consumers.
  • Present in 19 states through a distribution channel.
  • Selling a wide variety of products which are well accepted in the market.
  • Simple and innovative designs.
  • Founder led company supported by a highly experienced and professional leadership team.
  • Manufacturing both high speed and low speed two-wheeler vehicles.
  • Cost efficient sourcing and locational advantage.

Tunwal E-Motors Comparison Listed Industry Peers Group

Company Name Face Value EPS P/E Ratio Ro NW (%) Revenue (₹ in Lakhs)
Tunwal E Motors Ltd 2.00 1.81 [.] 45.32% 7,650.18
Peer Group
Wardwizard Innovations & Mobililty Limited 1.00 0.34 151.54 10.04% 23,891
TVS Motors 1.00 27.97 38.52 24.14% 31,97,400

Comparison of accounting ratios with listed industry peers

  • Tunwal E Motors Ltd
  • Wardwizard Innovations & Mobililty Limited
  • TVS Motors

Also Read: Three M Paper Boards IPO Details, GMP Price, Date, Review

Tunwal E-Motors Company Contact Details

Rama Icon Commercial Building, Office No 501, S.No 24/2, C.T.S No. 2164, Plot
No. 31/11 Sadashiv Peth, Pune, 411030, Maharashtra, India,
Contact Person: Bhavana Shivshankkar Sangoli
Contact No: +91-20-24336001
Email ID: cs@tunwal.com
Website: www.tunwal.com

Tunwal E-Motors IPO Registrar

SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area, Phase – I, New
Delhi-110020, India
Telephone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Investor Grievance Email: grievances@skylinerta.com

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