Tunwal E-Motors IPO is open for subscription on July 15, 2024 and close today July 18, 2024. The allotment for the Tunwal E-Motors IPO is expected to be finalized on Friday, July 19, 2024. Tunwal E-Motors IPO will list on NSE SME with tentative listing date fixed as Tuesday, July 23, 2024.
IPO Size: 19,600,000 shares (115.64 Cr) Fresh Issue: 13,850,000 shares (81.72 Cr) Offer for Sale (OFS): 5,750,000 shares (33.93 Cr) Subscription Dates: July 15, 2024 to July 18, 2024 Expected Allotment: Friday, July 19, 2024 Listing Date (Tentative): December 23, 2023 Price Band: ₹59 per share Retail Investors: ₹.118,000 (2000 shares) Small HNI : ₹.236,000(2 lots, 4000 shares) Big HNI : ₹.1,062,000(9 lots, 18000 shares)
| IPO Date | July 15, 2024 to July 18, 2024 |
| Listing Date | December 23, 2023 |
| Face Value | ₹2 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 19,600,000 shares (aggregating up to ₹115.64 Cr) |
| Fresh Issue | 13,850,000 (aggregating up to ₹81.72 Cr) |
| Offer for Sale | 5,750,000 shares of ₹2 (aggregating up to ₹33.93 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 41,451,080 |
| Share holding post issue | 55,301,080 |
| Market Maker Portion | 980,000 Shares |
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 980,000 (5%) |
| Retail Shares Offered | 9,310,000 (47.5%) |
| Others | 9,310,000 (47.5%) |
| Total Shares Offered | 19,600,000 (100%) |
| Investor Category | Shares Offered *** | Shares Bid for | Total Amount (Rs Cr.)* | Subscription (times) |
|---|---|---|---|---|
| Anchor Investors | 980,000 | |||
| Retail Investors | 9,310,000 | |||
| Others | 9,310,000 | |||
| Total | 19,600,000 | 0 | 0.00 | 0.00 |
Tunwal E-Motors Limited IPO raises ₹ crore from anchor investors. Tunwal E-Motors Limited IPO Anchor bid date is November 30, -0001. Tunwal E-Motors Limited IPO Anchor Investors list
| Bid Date | November 30, -0001 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 30, -0001 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 30, -0001 |
| GMP Date | IPO Price | GMP | Estimated Listing Price | Last Updated |
|---|---|---|---|---|
| 18-07-2024 | ₹59 | ₹4 | ₹63 (6.78%) | 18-07-2024 04:07 |
| 17-07-2024 | ₹59 | ₹8 | ₹67 (13.56%) | 17-07-2024 11:07 |
| 16-07-2024 | ₹59 | ₹10 | ₹69 (16.95%) | 16-07-2024 11:07 |
| 15-07-2024 | ₹59 | ₹11 | ₹70 (18.64%) | 15-07-2024 11:07 |
| 14-07-2024 | ₹59 | ₹11 | ₹70 (18.64%) | 14-07-2024 11:07 |
| 13-07-2024 | ₹59 | ₹12 | ₹71 (20.34%) | 13-07-2024 11:07 |
Tunwal E-Motors Limited IPO opens on July 15, 2024 and closes on July 18, 2024.
| IPO Open Date | Monday, July 15, 2024 |
| IPO Close Date | Thursday, July 18, 2024 |
| Basis of Allotment* | Friday, July 19, 2024 |
| Initiation of Refunds* | Monday, July 22, 2024 |
| Credit of Shares to Demat* | Monday, July 22, 2024 |
| Listing Date* | Saturday, December 23, 2023 |
| Cut-off time for UPI mandate confirmation | 05:00 pm, July 18, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹ 118,000 |
| Retail (Max) | 1 | 2000 | ₹ 118,000 |
| HNI (Min) | 2 | 4000 | ₹ 236,000 |
The promoters of the company are Jhumarmal Pannaram Tunwal, Amitkumar Pannaram Mali And Jhumarmal Pannaram Tunwal HUF
| Share Holding Pre Issue | 97.04% |
| Share Holding Post Issue | 62.34% |
Incorporated in December 2018, Tunwal E-Motors Limited is an electric vehicle (EV) manufacturing company that specializes in designing, developing, manufacturing, and distributing high-quality electric two-wheelers.
The company has introduced over 23 different models in the local market to cater to various needs.
The company has its presence in 19 states through a network of more than 256 dealers.
The company has a network of around 256 dealers in India. When a dealer is appointed, the company requires them to provide after-sales services such as routine maintenance, battery management, diagnostics, safety checks, and component replacement to customers.
The manufacturing unit of the company is located in Palsana, Sikar spread across an area of 8000 square meters.
Tunwal E-Motors Ltd manufactures electric bikes at its plant in Palsana and has the capacity to produce up to 41000 units.
As of March 31, 2024, the company had 64 permanent employees. The company trains its employees regularly to increase operational excellence, improve productivity, and maintain compliance standards for quality and safety.
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
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: cs@tunwal.com
Website: https://tunwal.com/
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
| Listing Date | December 23, 2023 |
| Final Issue Price | ₹ 59 per share |
| Price Details | NSE | BSE |
|---|---|---|
| Final Issue Price | ₹ 59 | ₹ 59 |
Tunwal E-Motors Limited IPO is a main-board FPO of 19,600,000 equity shares of the face value of ₹ 2 aggregating up to ₹ 81.72 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 2000 Shares.
The Tunwal E-Motors Limited IPO opens on July 15, 2024 and closes on July 18, 2024.
Retail Investors: ₹.118,000 (2000 shares) Small HNI : ₹.236,000(2 lots, 4000 shares) Big HNI : ₹.1,062,000(9 lots, 18000 shares)
The finalization of Basis of Allotment for Tunwal E-Motors Limited IPO will be done on Friday, July 19, 2024, and the allotted shares will be credited to your demat account by Monday, July 22, 2024. Check the Tunwal E-Motors Limited IPO allotment status.