Tunwal E-Motors IPO
#1. Quick Intro to Tunwal E-Motors IPO
The initial public offering (IPO) of Tunwal E-Motors will open for subscription on July 15 and close on July 18, comprising fresh issues of Rs.81.72 crore and an offer for sale (OFS) of Rs.33.93 crore. An investor can apply for the issue for a minimum of 2000 shares and the listing will happen on July 23, 2024.
Tunwal E-Motors Limited (2018) one of the leading companies in the EV 2-wheeler sector, is committed to advancing innovation in EV 2-wheeler manufacturing. Over the years, the company achieved a 201% CAGR in revenue, introducing more than 23 models including 7 variants of 2-wheelers, a dealer base of over 256 across India and establishing a presence in 19 states.
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.
Check out the IPO allotment status
#2. IPO Object of Tunwal E-Motors
The company intends to use the IPO Funds for the following purposes:
- Funding of capital expenditure requirements of the company for new machinery, etc.
- Research & Development
- Pursuing inorganic growth
- General corporate purposes and issue expenses.
#3. Tunwal E-Motors Core Strengths
- Recognised brands in the eyes of distributors and consumers
- Present in the 19 states through a distribution channel
- Simple and innovative designs
- Selling a wide variety of products
- Pure EV player
- Experienced promoters and management team
#4. Tunwal E-Motors IPO Review & Rating
| Issue Size | Rs.115.64 crore |
| Issue Price | Rs.59 per share |
| Minimum Lot Size | 2000 Shares |
| Total Profit (Latest) | Rs.1181.17 Lakh |
| ROE (%) | 57.53 |
| RONW (%) | 59.38 |
| Listing on | NSE SME |
| IPO Deliver Rating | Three |
#5. Tunwal E-Motors IPO Dates, Price Band & Details
Tunwal E-Motors IPO will open on July 15, 2024, and close on July 18, 2024. The IPO is to be listed on July 23, 2024.
| Type of issue | Fixed Price Issue IPO |
| Issue Size | Rs.39.83 crore |
| Price Brand | Rs.59 per share |
| Face Value | Rs. 02/- per share |
| IPO Open Date | July 15, 2024 |
| IPO Close Date | July 18, 2024 |
| IPO Allotment Date | July 19, 2024 |
| Refund Date | July 22, 2024 |
| Share Credit Date | July 22, 2024 |
| Listing Date | July 23, 2024 |
#6. Tunwal E-Motors IPO Offer Details
Tunwal E-Motors IPO’s total issue size is 196,00,000 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | 138,50,000 | 81.72 |
| Offer for Sale (OFS) | 575,00,000 | 33.93 |
#7. Tunwal E-Motors Financials Overview (Lakhs)
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category (Rs.) | March 2024 | March 2023 | March 2022 |
| Total Revenue | 10553.69 | 7655.74 | 7566.42 |
| Net Worth | 2053.08 | 821.91 | 424.43 |
| Profit | 1181.17 | 372.48 | 233.94 |
| Total Borrowings | 1224.06 | 409.40 | 321.55 |
#8. Tunwal E-Motors Quantitative Factors
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category | March 2024 | March 2023 | March 2022 |
| EPS (Rs.) | 2.85 | 1.81 | 1.21 |
| RoNW (%) | 57.23 | 45.32 | 55.12 |
| NAV (Rs.) | 4.95 | 3.98 | 8.25 |
#9. Tunwal E-Motors Comparison with Other Peer Companies (Top 2)
Listed companies in India are comparable in all aspects of the business.
| Company Names | Total Revenue
(Rs. in Lakhs) |
RoNW (%) | EPS |
| TVS Motors | 39,14,474 | 23.68 | 35.50 |
| – | – | – | – |
#10. Tunwal E-Motors Company Promoters
The company has one promoter as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP).
| Sr. No. | Name of Promoters |
| 01. | Jhumarmal Pannaram Tunwal |
#11. Tunwal E-Motors Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
| Pre-issue | 97.04 |
| Post-issue | 62.34 |
#12. Tunwal E-Motors IPO Reservation Details
Tunwal E-Motors IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
| QIB/Others Shares Offered | 50% of the Net Offer |
| Retail Shares Offered | 50% of the Net Offer |
| NII Shares Offered | – |
#13. Tunwal E-Motors IPO – Lot Size
An investor can apply for a minimum of 2000 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 2000 | 1,18,000 |
| Retail (Max.) | 1 | 2000 | 1,18,000 |
| HNI (Min.) | 2 | 4000 | 2,36,000 |
#14. Tunwal E-Motors IPO – Prospectus Copy
An investor can download/view the Tunwal E-Motors prospectus copy, which the company filed to exchange, details are as follows.
| Tunwal E-Motors IPO Prospectus |
| Draft Red Herring Prospectus (DRHP) |
| Red Herring Prospectus (RHP) |
#15. Tunwal E-Motors IPO Registrar
Skyline Financial Services Private Limited
Website: www.skylinerta.com
#16. Tunwal E-Motors IPO Lead Managers
Horizon Management Private Limited
Website; www.horizon.net.co
#17. Tunwal E-Motors IPO Application (How to Apply for an IPO)
There are three primary options for applying for a Tunwal E-Motors IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Tunwal E-Motors Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Tunwal E-Motors Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you.
#18. Tunwal E-Motors Company Details
Tunwal E-Motors Limited
Registered Office: 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.
Email: cs@tunwal.com
Website: www.tunwal.com
Investor Grievances/Compliance Officer: BS Sangoli
#19. Tunwal E-Motors Subsidiary Companies (Top 2)
| Sr.No. | Name of Companies (Indian) |
| 01. | – |
| 02. | – |
#20. Tunwal E-Motors Company Board (Top 2)
| Sr. No. | Name of Directors |
| 01. | Jhumarmal Pannaram Tunwal |
| 02. | Amitkumar Pananram Mali |
Tunwal E-Motors IPO – Frequently Asked Questions (FAQs)
| #1. What is a Tunwal E-Motors IPO?
Tunwal E-Motors brings its IPO of Rs.115.64 crore, on July 15, 2024, with a price band of Rs.59 per share. |
| #2. What is the Tunwal E-Motors IPO Open date?
Tunwal E-Motors IPO’s opening date is July 15, 2024. |
| #3. What is the Tunwal E-Motors IPO Close Date?
Tunwal E-Motors IPO’s closing date is July 18, 2024. |
| #4. What is the Tunwal E-Motors IPO Listing date?
Tunwal E-Motors’s IPO listing date is July 23, 2024. |
| #5. What is the Tunwal E-Motors IPO Minimum investment amount?
Tunwal E-Motors IPO’s minimum investment amount is Rs.1,18,000. |
| #6. What is the Tunwal E-Motors IPO offer issue Size?
Tunwal E-Motors offers an issue size of Rs.115.64 crore. |
| #7. What is the Tunwal E-Motors IPO Price Band?
Tunwal E-Motors’s IPO price band is Rs.59 per share. |
| #8. Is Tunwal E-Motors IPO mainboard IPO or SME IPO?
Tunwal E-Motors IPO is an SME IPO. |
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